PICA Tokenomics
Total supply and genesis token distribution
The total supply of PICA is 10 billion tokens. PICA Token distribution is intended as follows:
| Allocation | Amount | Percentage (%) | Description |
|---|---|---|---|
| Founders, Current Contributors, Key Partners & Advisors | 2,000,000,000 | 20% | 20% of PICA is earmarked for distribution to founders, current key team members, Key Partners & Advisors along a 2-year linear vesting schedule with an initial 6-month lock. |
| Treasury | 2,708,674,592 | ~27.1% | Approximately 18% of PICA’s supply was allocated to account for the long-term sustainability of Picasso. 75% of spent network fees will automatically flow into this fund (the remaining 25% of gas fees are distributed to collators). Following the approval of Referendum 63 on Picasso, ~9% of unclaimed crowdloan rewards were transferred to the Treasury. Following council motion 23, 1 billion PICA from this allocation is currently bonded on Picasso to secure the network. ** |
| Future Personnel Incentives (part of Treasury) | 200,000,000 | ~2% | 2% of PICA is intended to be reserved for future personnel incentives. Future issues from this pool will be subject to a 4-year vesting schedule from network launch or grant date (whichever is later) with a 1-year cliff and monthly vesting thereafter.** |
| Crowdloan | 2,091,622,608 | ~20.9% | 30% of Picasso's token supply was originally allocated to crowdloan stakers for the parachain lease slot dated November 30, 2021 - October 31, 2022. The crowdloan stakers earned 50% of their PICA upon TGE, with the remainder released linearly within 48 weeks. The full balance can be used to participate in governance and other activities besides transferring. Any unclaimed rewards from the crowdloan will be transferred to the Picasso treasury three months after the crowdloan vesting period is concluded via a treasury proposal. This was executed after community referendum 63 on OpenGov. |
| Ecosystem Incentives | 1,000,000,000 | 10% | 10% of PICA’s total token supply will be released from the protocol as rewards and incentives for a number of actions involved in the protocol. These are programmatic incentives to bootstrap network growth such as running an oracle on Apollo. |
| Series A Token Purchasers | 699,702,800 | ~7% | This portion of PICA tokens is allocated to Series A token purchasers, with a 3 month lock-up plus 2 years vesting. |
| Liquidity Programs | 1,500,000,000 | 15% | 15% of the total token supply will be released as rewards for participants in Liquidity Programs on Picasso. |
**Estimated allocation and length of program is subject to change. Specific Disclaimers and Disclosures for the PICA Token