Allocation
Last updated
Last updated
The community will become responsible for the spending of the DAO's QUARTZ upon deployment of Snapshot and then, the DAO.
Insurance
QUARTZ might be used to capitalize an insurance fund. Once in place, Quartz stakers will benefit from the coverage.
Liquidity Mining/Bonds
QUARTZ can be distributed to incentivize additional liquidity (e.g. through KPI options).
TVL Mining
QUARTZ can be distributed to increase the TVL of Sandclock's metavaults (e.g. through KPI options).
Ecosystem Development/Grants
QUARTZ can be granted to incentivize development or marketing of our growing ecosystem.
At least 30% of QUARTZ shall remain locked in perpetuity. The purpose of this QUARTZ is to incentivize TVL growth, Giving, or other actions on-chain without diluting existing holders. It achieves this through a delegative function, whereby a trusted backend can delegate voting power to an address on Polygon without transferring ownership of the tokens.
It was initially designed in order to incentivize giving, but it can fulfill other objectives while preserving the value of QUARTZ.
3,235,547 were sold during Phase I
500,000 were sold to a limited number of strategic partners (partnership incentive alignment and additional development services, 50% still being vested until October 23 2023)
1,371,376 were sold during Phase II
116,279 were loaned to Lindy Labs for liquidity provision on SushiSwap (matched with 2,000,000 USDC)
29,412 were loaned to Wintermute for liquidity provision on SushiSwap (matched with 500,000 USDC)
56,088 were used for Liquidity Mining on SushiSwap
168,500 were used for Liquidity Mining on Olympus
470,583 were loaned to Wintermute for market making on KuCoin
20,000 were given to KuCoin (plus an undisclosed amount of USDC) for listing purposes
22,000 were given to KuCoin for their marketing campaign
177,819.05 have been used for grants to date
| Purpose | Scheduled Emissions | Tokens |
|---|---|---|
DAO
Emissioning 15% APY via TVL mining incentive. The DAO controls the use of these tokens. Possible future use cases are listed under DAO Tokens, designed to increase the value of the treasury and lessen the effects of dilution for QUARTZ holders. In other words, they'll be used to accelerate growth and benefit all stakeholders.
51,800,000
Permalocked
None. These will be locked in perpetuity. Learn more under Permalocked Tokens. [BURNED]
-30,000,000
Team
To date, only approximately 15,000,000 have been allocated. Team tokens are vested linearly over three years. The cliff ended on April 21 of 2022 and team members are able to claim, as the tokens are vesting until October 21 2024. They don’t fall under circulating until claimed.
18,200,000
