ELAND Token : Updated Tokenomics & Burning Event
The Tokenomics behind the Eland token is designed to create a strong adoption around powerful Real Estate Data and Mapping applications such as Etherland.
With only over 2% of the maximum supply in circulation, Etherland’s product launches were a success and LAND ID NFTs are high in demand while registrations are growing. Having reached the goals of obtaining functional and scalable decentralized applications, the previously established maximum supply would not be necessary for the success of the Eco-system and while burning 95% there is enough space for development and achievement of the next objectives.
As a result, Etherland’s wallet but also all the others initial allocation wallets will be reduced by 95% on May 25th (overnight between the 24th — 25th May GMT Time). The burning event will affect ONLY the top 4 big wallets, all other wallets will remain the same.
- Current Maximum Supply: 1 000 000 000
- Amount of tokens to be burned: 929,313,930
- New Maximum Supply: 70,686,070
- Current Circulating Supply: 21,774,810
New Allocation after the burning event:
- Etherland: 9,813,007
- Agricultural Land Application: 7,500,000
- Initial DEX Offering : 2,183,831.93
- Reserve: 10,000,000
- Team and Advisors: 4,414,421
- User Rewards Reserve: 10,000,000
- Carbon Credit Reward: 5,000,000
Token Release schedule
No more than 250 000 Eland tokens will be withdrawn per month from each of the following allocation wallet: Etherland, Agricultural Land Application, Reserve, Carbon Credit Reward and Team.
There is no maximum on the amount of tokens that can be withdraw from the Initial DEX Offering and User Rewards Reserve as those tokens are correlated with adoption and will be used to provide liquidity on exchanges and incentivise stacking contributions.
Maximum release per quarter
A maximum of 150 000 Tokens per month and in total no more than 300 000 tokens per quarter will be distributed to the team, advisors and partners, while a maximum of 200 000 tokens will be given away every quarter with the mobile app game.
Depending on the product development and adoption, the full maximum supply will be in circulation between 2032 and 2035. Other token burning events could eventually happen to meet this schedule.