Distribution Models & Token Supply
The total supply of CMX will be capped at 11 Million. After 1 Million are burned for CTZN this will leave a total supply of 10 Million. Deflationary mechanics will then further reduce that supply as time goes on.
CMX non-fungible tokens will be specific to each year. Each denomination will have it's own image and will be stamped with it's minting year. In this way the tokens will each be individual collectibles and a complete set of each year can be made.
The annual token supply will be determined on a year to year basis. There will be a finite amount of CMX NFTs that will be minted. All initial mints will be in the 1 CMX denomination. The template for 1 CMX will have a locked total issuance during the initial year of minting.
After each year a full review of that years minting, distribution and use will take place. The following years supply will be calculated and announced to the community.
The token will initially be distributed as only a 1 CMX NFT. There will be blends available to blend up to higher denominations to complete the sets. There will be 6 total denominations including the 1 CMX initial denomination. Each of the first 5 denominations will feature a character from the MFC Metaverse. The 6th will feature a special scene or character that unifies the other 5 lower denominations in some manner.
The 2022 CMX Series will feature the 5 MetaForce champions on the 5 lower denominations. The 6th and highest denomination will feature a group shot of the MetaForce team. Future annual series runs will be selected by the community.
Much like minting IRL tokens, the token supply will exist on a minting schedule. The Mint will only be available to produce a certain amount of tokens weekly. The CMX NFTs will be distributed each based on a predetermined formula. The Mint is only open 50 weeks a year and takes a 2 week hiatus at the end of December each year for holiday break and retooling for the next years run. During these two weeks token minting contracts will be updated for the following years templates.
Total distribution will be measured by the total years supply divided by 50 weeks. Each of the first 50 weeks of the year 2% of the annual supply will be made available for use. In 2022 the team will prorate the annual supply based on the remaining weeks of the year. This process will be done manually and may experience occasional delays until such time that it can be automated with smart contracts.
The FT to NFT bridge will be allow owners to move their tokens freely between fungibles and non-fungibles. The purpose for this is to allow for multiple utilities as both a fungible and non-fungible token.
The token will be rewarded both as FTs and NFTs. Rewards will be for a variety of reasons including, but not limited to, the following...
- General Community Engagement
- Leaderboard Rewards
- Liquidity Pool (LP) rewards
- NFT Mining/Partner Project Engagement