Chainflip Labs, a cross-chain trading platform, has announced its tokenomics and will airdrop its token to the community.
$FLIP is Chainflip Labs' ERC-20 native token, which is expected to launch in Q2 2023. The initial supply of the token is 90 million with an annual emission cap of 8%. The distribution plan of $FLIP is as follows.
- 4.75 million $FLIP allocated to the community airdrop. The allocation is given to the Oxen Foundation (OPTF) to distribute to Service Node operators that participated in the Service Node airdrop program in 2020/21.
- 6.9 million $FLIP for the token sale.
- 13 million $FLIP allocated to contributors.
- Approximately 34 million $FLIP allocated to strategic investors.
- 4.2 million $FLIP allocated to the Oxen Foundation.
- 4,968,503 $FLIP allocated to Liquid Treasury.
- 22 million $FLIP allocated to Treasury Reserves.
Chainflip Labs closed a $10 million round of funding in May 2022 with participation from Pantera Capital, Framework Ventures, and Blockchain Capital.