Dimitra; Discussing the Token Supply
Continuing with our biweekly video series, today our CEO and Founder Jon Trask answers the question what is the token supply currently and what will be the total supply overall? Did you miss this weeks video? Feel free to watch the video below, or read on to learn more!
Jon Trask: So by design, the total token supply is a billion tokens, and we’re releasing those billion tokens depending on the area of tokenomics, but most of it is released over 10 years or more. If you break down our token supply, we have a reserve set aside, which is about 5% of the tokens. Our reserve would be used for things like DeFi if we wanted to go in that route, or if we were setting up DeFi loans, we need to maintain a reserve for that. We also have 10% of our tokens for an ecosystem fund, and our ecosystem fund essentially drives value through the ecosystem. You know, we may need to fund a not-for-profit or a small group of farmers to get them onboarded onto the platform. We may need to fund the implementation of some technology, and we may need to fund different partnerships that will drive more users to the platform.
The next component is our partners: Unizen. Unizen are strategic advisors for us, and they played a big role in rolling out our crypto strategy and crypto marketing. So, you know, we’re always thankful to them at Unizen for everything that they’ve done. We have about 8% of the tokens reserved for them. We have 17% of our tokens reserved for staking and rewards, bug bounties, things like that over the years. Like we mentioned before, the maximum is about 13% that people can earn. And the number of those tokens, the 17 tokens, will supply more than a decade of rewards. We have an impact fund, which is a fund to make a difference on ESR, make a difference with charities and not-for-profits, and onboard those people really in need, to the system.
There’s a lot of farmers in the world, over 600 million farmers. Many of them are in some of the most poor nations or poor areas of the world, and they have challenges accessing technology. The interesting thing is a lot of them have a cell phone. So we use these, among other methods to onboard farmers to the platform who maybe wouldn’t jump onto a platform themselves. We sold about 1.3% of the tokens, 13 million tokens, in our presale. And there’s about 20% of the tokens that are held for founders, advisors, team members, partner organizations who provide services to the company. So we do have a chart that’s available and you can access that chart on our website, again, go to dimitra.io/token. And currently our circulating supply is over 50 million. And you can watch that on CoinGecko, probably the most reliable information for us on token supply.
Michael Whitlatch: Yeah, fair enough. And John, people had previously mentioned about the Dimitra foundation owning the majority of the tokens, but it isn’t like it’s just a giant pot of tokens you can do whatever you want with. As you said, they’re allocated to specific resources over time, correct?
Jon Trask: Absolutely. Yeah. So we do have our release plan, and all of these aren’t sitting there in my name. They all play a strategic role in the company over the next decade, and fitting together with driving more users to the platform, which again, drives overall value and drives the value of tokenomics.