Elysian Token Distribution Explained — Why 23%?

Why is Elysian selling only 23% of its total supply during the token sale?

As an investor, this is an extremely important question to ask. 23% percent seems like an insignificant amount, so we’ll address this head on. The reasoning behind choosing to sell only 23% of all Elycoins is integral to the success of the Elysian project. To understand the 23% question, we first need to look at the total Elycoin allocation.

*TGE — 23%
*Sold to TGE participants through a TGE, Pre-TGE and Private Sale event.
*Referral — 1%
*Distributed for referrals to the Elysian TGE
*Bounty — 1%
*Distributed for completing tasks associated with the Elysian Bounty Campaign
*Team — 10%
*Held by the team for employee salaries and team compensation to incentivize continued work on the Elysian project.
*Reserve — 30%
*Allocated for the Elysian Reserve fund.
*Growth Pool — 35%
*Allocated for the Elysian Growth Pool.

Now that we understand the allocation of all Elycoins, let’s speak about the elephant in the room — the Growth Pool, the Team Allocation and the Elysian Reserve. In total, these three allocations account for 75% of all Elycoins. Let’s discuss why they account for so much of the supply, and what they’re going to be used for.

Team Allocation

The team allocation will be 10% of the total supply. This will be used for paying the salaries of staff on the Elysian project. The 10% allocation will be broken down into ten evenly sized, separately timed releases, with the first team payout occurring directly after the crowdsale. After the first batch of team tokens are released, there will be another at the three month mark, followed by one every six months for the next four years. The team allocation of Elycoins is important so that the money raised through the ICO does not have to be used on various salaries and can instead be used towards research, development, marketing and implementation of the Elysian platform.

Growth Pool

The Elysian Growth Pool is a multi-faceted post-TGE community engagement plan which ensures active collaboration between the community and Elysian core team. Elysian will allocate 35% of its total supply to the Growth Pool. These tokens will be released in increments to compensate members for tasks completed through the Growth Pool, which are proposed and voted on by registered members of the Elysian community through the Elysian forums. These tasks must fall in line with Elysian business objectives and development. Furthermore, there is an annual cap on the release of these tokens, at 50-million ELY per year.

The process for the Growth Pool will be as follows. A registered member(s) of the community will propose a project/task which will require a certain allotment of Elycoin from the Elysian Growth Pool. A budget and project proposal would be created by the Elysian core team to ensure clarity and transparency regarding where the Elycoin from the Growth Pool will be spent. Once a majority vote in favor of the project/task is registered, the community member(s) will receive a pre-designated amount of Elycoin as they complete each task, objective and milestone associated with their proposal.

Elysian Reserve

The Elysian Reserve will function in a manner which is very similar to the Growth Pool, however these tasks will be actioned by the Elysian core team. There will be a 30% allocation of the total Elycoin supply set aside for the Elysian Reserve, and an annual cap of 37.5-million ELY released per year. There are conditions which must be met before any of these reserved Elycoins can be released. Like the Growth Pool, all items which warrant budget spend from the reserve must receive a majority vote by registered members of the community in the Elysian forums.

Qryptos ELY ICO Link:
https://tokens.qryptos.com/ico-market/ELY

Important Elysian Links:

Website https://elycoin.io/

Telegram https://t.me/elysian_ely

Whitepaper https://elycoin.io/whitepaper/english

Reddit https://www.reddit.com/r/Elysian_ELY/

Twitter https://twitter.com/Elysian_ELY