Our initial plan was to mint 100 million tokens at the get go. 17% is going to be GIVdropped. Of those, 10% will be liquid and 90% will be in the GIVstream)… so with a 100 million initial supply, we’d have an initial circulating supply of 1.7 million GIV.
Griff did some quick math…
BrightID has a circulating supply of 6 million tokens and a price of around $0.5 - so a market cap of around $3 million (Market cap = Price x Circulating Supply). We could expect that our token would have a similar market cap, so we could expect that with a 1.7 million initial circulating supply, GIV would be worth around $2.
Should we change the initial supply to change the order of magnitude of GIV? What should we set the total initial GIV supply to be? I made a table to give you and idea of what that would look like… In italics is our current plan. In bold is my favourite solution.
|Initial Supply||Approx Price of 1 GIV||Each GIVback round gets*||avg GIVdrop recipient gets a GIVstream of**|
|10 million||$20.00||10,000||0.6 GIV/week|
|100 million||$2.00||100,000||6 GIV/week|
|1 billion||$0.20||1 million||60 GIV/week|
|10 billion||$0.02||10 million||600 GIV/week|
*This is the maximum amount of tokens being allocated to give out for every 2-week GIVback round: 0.1% of the total supply per round.
*The average GIVdrop recipient right now is getting 1700 GIV (0.0017% of the total supply)
Avg GIVdrop = 1700 GIVstream = 6 GIV/week
This is really a matter of the psychology of numbers - what sounds best? What looks best? What makes the most #highvibes?
I really think a 1 billion GIV initial supply is a cool option:
- It means every round, we’re giving away “one million GIV” to donors!
- it means that, even when someone earns a GIV stream that’s only worth about $0.2/week… they’re getting still 1 GIV/week - a whole number!
- Our average GIVdrop recipient starts out with a double-digit GIVstream.
- It’s not some crazy inflated numbers that’s very hard to keep track of
That said, open to hear others’ suggestions/opinions. What do you think is best?