Futureswap Governance Token Distribution
The Futureswap Governance Token (FST) enables democratic governance of the Futureswap platform. Token holders set Futureswap’s direction for the future. The distribution of FST is structured intentionally to ensure longevity and value add to the platform and gives full control to its users. The development team believes that success comes from being able to run the platform with a long term vision and has repeatedly chosen a long term strategy instead of short term gain (e.g Shutting down the alpha to ensure user safety). Futureswap’s aspiration is to become the best execution environment for perpetuals on any asset. Our community is key in achieving this goal.
FST enables community members to express their views in an open manner, allowing them to create proposals to bring the best ideas to life that will serve the platform long term. The FST supply is capped at 100 million tokens which will be minted over the next nine years. Here is our release schedule for Futureswap Token (FST).
Futureswap Tokens will be distributed to four groups: Users, Developers, Investors, and Team.
User rewards
Futureswap has three core user groups: Traders, Liquidity Providers, and Referrers.
30 million FST (30% of total) will be allocated to the users of Futureswap to ensure they have a strong voice in governance. User incentives are issued over the course of 3 years with an initial front load (as voted in by the community) in the initial weeks after launch. FST holders can vote to adjust the incentive distribution schedule, exchange weighting, and action weighting.
Development Fund
A development fund will be issued tokens over 9 years to allocate voting power to groups/individuals who bring value to the Futureswap platform. There are a total of 18 million FST (18% of total) reserved for the development fund. The fund will be controlled by token holders. There are many purposes for a development fund, but since FST is non-transferable the development fund acts to give more of a voice to those who receive grants.
Team
Futureswap needs to be able to recruit and retain top-tier talent in order to achieve our ambitious long-term goals. As we have seen with other projects, we believe it is crucial to have incentives aligned with the project and its values. 34 million FST (34.4% of total) is reserved for current and future core team members which vests over 3 years. This will ensure that the team actively developing Futureswap will have a voice in its governance and can continue to drive important additions to the platform.
Investors
In total, investors hold 12.58 million FST (12.58% of total) with a 3-year vesting schedule, which started April 20, 2020. Futureswap has reserved an additional 5 million FST (5% of total) for a future round if needed. To attract investors with a long-term mindset all investors without exclusion have a 3-year vesting period. We’ve been fortunate enough to be able to strategically choose investors who are aligned with our values and have helped Futureswap remain long term oriented. Having a strong investor backing with a long term vision has enabled the team to make the right choices when it comes to safety, hiring and overall execution.
Future of Futureswap
The Futureswap team is excited about the opportunity ahead of us. At the time of writing (Jan 2021), the current size of the rapidly growing crypto perpetuals market is over $250 billion in trade volume per day and Futureswap is well positioned to be a force in that market.
We are excited about Futureswap and its possibilities, if you would like to help build the future with us, join our Discord and follow us on Twitter @FutureswapX
