The community board has approved a 20M Cheddar Genesis to bootstrap the Cheddar Loyalty Network:
- 1.The FREE Community Farming will mint unlimited Cheddar for 20 days.
- 2.2.3M tokens will be minted for the team and community contributors.
- 3.Cheddar for partnerships or growth will be proposed on the NEAR governance forum and voted on in the CheddarDAO by the community board before additional Cheddar minting occurs.
Team & Advisors: 2M (10%) - Lockup according to the Phase-0 schedule.
- 3-month cliff
- 3 months linear vesting (tokens unlock linearly from month 4 till 6 after genesis)
- Tokens in the vesting contract are not transferable.
- Locked tokens can be used for Cheddar DAO governance voting.
Partnerships: 8M (40%) - building NEAR ecosystem.
Cheddar DAO governance will be used to approve and mint tokens as needed. Both the community board and council will have the ability to vote and approve a proposal after a governance post has been submitted and discussed.
Early Supporters: 300K (1.5%) — NEAR dApp integration.
Cheddar will be minted to a contributor wallet and issued by the team to auditors, community board members, and testers.
DAO Treasury 9.7M (48.5%) — Future use governed by DAO.
Cheddar DAO governance will also be used for the treasury fund to approve and mint tokens on an as-needed basis. Both the community board and council will have the ability to vote and approve a proposal after a governance post has been submitted and discussed.