Token Distribution & Vesting
The QI token distribution was designed to foster active participation and engagement within the BENQI protocol. By encouraging balanced growth in both borrowing and lending pools, the distribution aimed to maintain high market utilization and a wide base of participants.
QI tokens were distributed via ecosystem development initiatives to achieve a balance of high market utilization and a wide distribution of participants.
Tokens have been distributed amongst various key parties. All tokens are fully vested.
- Core Contributors (720M): Reserved for team members. Fully vested.
- Foundation (1.08B): May be used or disposed of at the Foundation's discretion. Fully vested.
- Exchange Liquidity (360M): Provides liquidity for QI token trading on decentralized and centralized exchanges. Fully vested.
- Seed Round (426.96M): Allocated to early investors who provided initial funding and support. Fully vested.
- Private Sale Round (869.04M): Reserved for strategic partners and investors to help scale the project. Fully vested.
- Public Sale Round A (439.2M): Open to the public, helping to onboard a wider community of users and participants. Fully vested.
- Public Sale Round B (64.8M): Immediate liquidity provided through a fully unlocked public sale. Fully vested.
45% or 3,240,000,000 QI tokens were allocated to ecosystem development through BENQI's Liquidity Mining program, which uses QI to incentivize the platform’s growth. This is fully vested.
This is illustrated in the following chart:
| Category | Total Amount (QI) | Lockup Amount (QI) | Status | Initial Unlock Date | Unlock Schedule |
|---|---|---|---|---|---|
| Core Contributors | 720,000,000 | 720,000,000 | Fully vested | Aug 2022 | 1-year cliff, quarterly vesting over 3 years |
| Foundation | 1,080,000,000 | 1,080,000,000 | Fully vested | May 2022 | 9-month cliff, quarterly vesting over 3 years |
| Ecosystem Development | 3,240,000,000 | 3,240,000,000 | Fully vested | Aug 2021 | Varied (dependent on incentive programs) |
| Exchange Liquidity | 360,000,000 | 360,000,000 | Fully vested | Aug 2021 | Varied (depending on market needs) |
| Seed Round | 426,960,000 | 426,960,000 | Fully vested | Aug 2021 | Monthly release over 2 years |
| Private Sale Round | 869,040,000 | 869,040,000 | Fully vested | Aug 2021 | Monthly release over 1 year |
| Public Sale Round A | 439,200,000 | 439,200,000 | Fully vested | Aug 2021 | Monthly release over 1 year |
| Public Sale Round B | 64,800,000 | 64,800,000 | Fully vested | Aug 2021 | Monthly release over 1 year |
| Total | 7,200,000,000 | 7,200,000,000 |