Webb Unveils Token Allocation for Tangle Network's April 10th Mainnet Launch

We are thrilled to announce the final token allocation plan for the highly anticipated Tangle Network genesis launch on April 10th 2024.

After careful consideration and comparison against successful networks, we have tailored our allocation strategy to meet the unique needs and goals of Tangle.

The allocation plan is supports our foundational structures, incentivizes community participation, and helps ensures long-term sustainability and success. The components of the allocation are as follows:

Contributors (43.64%):
This allocation supports the core teams, core-team investors, and advisors who are essential for the network's development and strategic direction. The tokens will be subject to a vesting schedule to promote long-term commitment.

Governance-Managed (51.36%):
These funds are earmarked for community decision-making, future development, network success programs, liquidity provisions, and partnerships critical for launch and growth. The Treasury (35%) and Foundation (15%) will manage these tokens.

Airdrops (5%):
Airdrops are aimed at rewarding and incentivizing validators, early supporters, and participants, fostering a strong and engaged community from the outset. We include allocations for Leaderboard Participants, DOT Validators, EDG Genesis Participants, and EDG 2023 Snapshot participants. We describe these and our reasoning below:

Airdrops

The Tangle Network, with its foundation in the Substrate blockchain framework, strategically plans airdrops to bolster its ecosystem by targeting specific groups that align with its mission of providing cross-chain and zero-knowledge (ZK) applications, along with multi-party computation (MPC) services. The targeted airdrops are not only a gesture of gratitude but are also designed to cultivate a robust, engaged, and supportive community essential for the network's growth and sustainability. Below are the three targeted groups for the airdrops and the rationale behind each:

Leaderboard Participants

The airdrop for Leaderboard Participants is designed to reward the proactive validators who participated in Tangle Network's promotional campaigns. These individuals have shown an early interest and commitment to supporting the network's infrastructure, particularly in its nascent stages. By incentivizing validators through this airdrop, Tangle Network aims to encourage a stable and reliable validator base. This is crucial for the network's performance, especially given its focus on restaking and providing MPC services. An engaged validator community is vital for maintaining network security, processing transactions efficiently, and ensuring the reliable execution of cross-chain and ZK applications.

DOT Validators Snapshot

Targeting DOT Validators through a snapshot airdrop serves multiple strategic purposes. First, it recognizes and rewards validators from the Polkadot ecosystem, encouraging them to extend their validation services to the Tangle Network. Given that both Tangle and Polkadot leverage the Substrate framework, DOT validators are likely to have the technical expertise and infrastructure already in place to support Tangle, and we believe they will be interested in our restaking-enabled MPC and ZK services. This crossover potential not only broadens the validator pool but also fosters interoperability and cross-chain collaboration. Additionally, by appealing to an existing community of validators, Tangle Network taps into a group that's already familiar with the responsibilities and rewards of maintaining a blockchain network, potentially speeding up adoption and network growth.

Edgeware (EDG) Participants (Genesis and 2023 Snapshot)

The airdrops to EDG participants serve a dual purpose. Firstly, they reward the loyalty and continued support of those who have been involved in projects that several members of the Webb team have contributed to, including Webb's CEO Drew Stone, who co-founded Commonwealth Labs, the original developer of Edgeware. including the EDG network. We intend for this to convey a sense of continuity and acknowledges the trust these participants placed in our vision. Secondly, the airdrop acts as a token of gratitude towards the EDG community for an initial grant made to the Tangle project under Webb. By including both Genesis participants and those captured in the 2023 Snapshot, the Tangle Network ensures it encompasses a broad spectrum of the EDG community, from early adopters to more recent supporters, thereby strengthening ties and fostering goodwill between the networks.

Together, these targeted airdrops are instrumental in building a foundational community for the Tangle Network, one that is engaged, supportive, and technically capable to support our suite of MPC and ZK services.

Vesting

The vesting schedules for the allocations are designed to promote a phased distribution of tokens.

A-Vesting Schedule: Targeted at key developers and investors, this plan features a 12-month cliff period followed by a 24-month vesting period. It's crafted to encourage long-term commitment by delaying token release, thus aligning their interests with the project's success. No tokens are available upfront, emphasizing the importance of sustained contribution.
B-Vesting Schedule: Aimed at participants of various airdrops, this plan introduces a shorter, 1-month cliff and a 24-month vesting period, with a small percentage of tokens made immediately available. This approach seeks to reward early supporters while still promoting ongoing engagement with the project.

More Details

For a detailed breakdown of the allocation percentages, vesting schedules, and token distribution, please refer to the Tangle Network Allocation Documentation. The documentation provides comprehensive information on the allocation model, vesting formulas, and definitions of key terms.

Stay tuned for more updates as we approach the genesis launch on April 10th.

For media inquiries or further information, please contact [email protected].