Token Distribution
Up to 4 Billion EGLs can be minted and distributed, with half of the value going to the ETH community (2B EGLs) and another 1.25B EGLs going to miners.
Specifically,
Half of the EGLs - 2B out of 4B - is awarded to the ETH community, specifically to:
- Genesis Supporters who help bootstrap EGL
- Voter Reward to incentives usage
- Core Devs, whose different opinions are key to guide community
- DAO treasury to support and fund future developments, audits, or any other cause chosen by the EGL holders.
Mining pools are awarded EGLs whenever they mine a new block, depending on how closely they follow the community's desired gas limit (
desiredEgl). This reward gradually decreases over time, since the initial incentive - needed to persuade pools to alter their behavior and adhere to the EGL vote - is much greater than the incentive required for pools to continue doing so in the long term.The total amount is of EGLs awarded to pools is capped at 1.25B EGLs.
EGL creators and early backers of the project are awarded 750M EGLs. These EGLs are gradually minted over a period starting 9 weeks after the Launch, and ending 52 weeks after it. They are released on the same schedule at Genesis participants, which the majority of the tokens being released close to week 52.
From the Creators pool, a portion of the tokens are for a handful of investors that provided the necessary seed capital to fund development. They have the same lockup as the Creators.
Last modified 1yr ago