Genesis Minting
Last updated
Last updated
The community board has approved a 20M Cheddar Genesis to bootstrap the Cheddar Loyalty Network:
The FREE Community Farming will mint unlimited Cheddar for 20 days.
2.3M tokens will be minted for the team and community contributors.
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. team.cheddar.near
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. contributors.cheddar.near
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.