Numbers Protocol aims to create community, value, and trust in the digital media world by leveraging traditional cryptography approaches along with blockchain technology. The project uses a capture, seal, trace approach to provide authenticity certifications as well as traceable records for data and content at the beginning of the content lifecycle, enabling users to claim and retain ownership of their data.
At the center of Numbers Protocol, as the platform’s native protocol token, is $NUM, which is a utility token designed to incentivize users to create, archive, and verify content with good integrity.
In this article, we’ll cover several key components of $NUM, including an overview of $NUM, the general tokenomics and upcoming roadmap, and token allocation.
What is $NUM?
The vision of Numbers Protocol is to create an ecosystem where photos (encompassing both images and videos) matter by leveraging proofs, integrity records, and data provenance to increase the credibility and legitimacy of registered photos in the network. $NUM token, as the native tokens of Numbers Protocol, can be used to pay for services running in the decentralized photo network.
$NUM is an ERC20 compatible token with a total supply of 1 billion. One of the great things about $NUM is that it can also be bridged to BEP20.
Here’s a breakdown of $NUM:
$NUM has been allocated to a number of areas, each with a unique vesting schedule.
Integrity reward — Investors who invested at the early stage of the project or join the strategic round of the token sale and commit to the long-term contribution of the network as technical, business, marketing partners, or the network ambassador.
- Vesting: 10% on TGE, 3-month lock, 4.29% monthly over 21 months.
Public Sale — Contributors who participate in the community round of the token sale.
- Vesting: 20% on TGE, 3-month lock, then 20% quarterly.
*Note: Details of the public and bootstrap pool will be updated after the events conclude.
Teams & Advisors — Advisors and developers who participate in building the initial version of the decentralized photo network.
- Vesting: 1-year cliff after TGE or 3-month cliff after network launch (the shorter), then 2.78% monthly.
- Tokens are vested with a cliff period.
Pre-Listing Partners & Consultants — Pre-listing partners and consultants who participate in the listing process and ensure the listing process of $NUM tokens runs smoothly.
- Vesting: 10% on TGE, 6-month lock, 22.5% on month 7, 13, 16, 19.
User Reward and Staking — Benefit network users who participate in the decentralized photo network ecosystem.
- Vesting: 1% monthly for the first year, 2% monthly starting from the second year until all tokens are distributed.
- The distribution of user rewards starts after the network launch.
Liquidity — For creating a liquidity pool of AMM and market making for creating a healthy trading environment.
- Vesting: 10% on TGE, 3% monthly for the first year, and 5.2% monthly for the second year.
Ecosystem — Network operators, tech or business partners, and community developers who contribute to the decentralized photo network ecosystem.
- Vesting: 1.5% on TGE, 2% monthly until all tokens are distributed.
- As the network transitions to community governance, the distribution of ecosystem rewards will be decided by the network community. This fund may also be used for extreme cases. In the case that the network is attacked and not functional, this fund may be depleted based on the governance vote result.
Marketing — Marketing tokens to incentivize KOLs to participate and broadcast the project to the community.
- Vesting: 17.5% on TGE, then 7.5% monthly.
The Community/Public Sale will open in November 2021, during which individuals can buy a limited amount of $NUM tokens at a relatively low price. At this point, only white-listed individuals who complete the KYC process can purchase.
After the bootstrapping completes, tokens will be listed on an exchange and free to be traded. Once $NUM is listed on an exchange, the price of $NUM token will be driven by market demand and inflation caused by the release of the reward tokens.
$NUM has a variety of incentives and utilities within the Numbers Protocol ecosystem. For example, it will be used to reward users, can be earned through staking, as well as used across several network apps.
More info about the benefits and uses of $NUM can be found in Part 2 of this article coming soon!