Public Contribution
To address the challenge of initial token valuation, Abax has implemented a novel mechanism called the Balanced Dynamic Cost Model. This model aims to prevent potential pitfalls associated with traditional valuation methods, which can limit project potential and lead to investor losses.
Public Contribution has been divided into two phases: During the first phase, 100M tokens will be generated, and this phase will last until this pool is exhausted. In the subsequent second phase, it will be possible to mint tokens, but the cost of generating new tokens will increase in proportion to the number of generated tokens. The second phase will last 3 months and the supply of this phase is unlimited.
Public Contribution: Phase 1
During the first phase, 100M tokens will be generated, this phase will last until this pool is exhausted. This allocation will be distributed as follows:
20,000,000 to the public contribution contracts *
20,000,000 to the founders
2,000,000 to the foundation
58,000,000 locked in Strategic Reserves
Through Phase 1, the community will be able to contribute to the project by interacting with the Public Contribution Smart Contract. During the interaction, each 1 USDC transferred contributor will receive 25 ABAX Tokens + Bonus**.
*: This allocation has been reduced by the amount of tokens reserved for participants of the Stakedrop Campaign. With 7.5M tokens allocated to the Stakedrop participants, the remaining allocation for public contribution contracts is 12.5M tokens.
** participation in the Zealy campaign guarantees a bonus during the minting process
For more information about ongoing campaigns, visit Promotional Campaigns.
Public Contribution: Phase 2
After distributing all 20,000,000 tokens from the Public Contribution Smart Contract allocated for public contributors, there will still be an option to mint ABAX tokens, although at an increasing cost.
The cost of receiving 1 ABAX will be: 0.04 + 0.04 x/100,000,000 USDC, where x is the amount of additionally generated tokens.
The tokens will be generated in such a way so the proportion from Initial Allocation is kept: Minting 1 Abax will additionally generate 1 Abax for founders, 0.1 will be sent to the foundation and 2.9 will be locked in DAO Treasury. Tokens minted in phase two will be subject to the same vesting period as tokens from phase one.
All funds collected during Public Contribution will be transferred to DAO Treasury, managed by Abax DAO.
Contributions are final and cannot be refunded. While anyone can participate, it's important to understand the risks of interacting with smart contracts. Contributors should carefully assess their risk tolerance before committing their resources. The minimum contribution is 1 USDC, while there is no maximum contribution.
Token vesting
Both Public Contribution participants and founders are subject to vesting. That ensures a long-term commitment to the project and aligns their interests with the success of Abax. Public contributors will receive 40% of their tokens instantly, with the remaining portion being vested linearly over 4 years. As for founders, they will receive 20% of the tokens instantly, and the remaining portion will also be vested linearly over 4 years.
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