Token Basics 📊
Therefore, the HBT token is designed to strengthen the security of the rollup infrastructure and to incentivize staking, farming and building of new governance + rollup features.
Communities use HBT to signal the most needed features and gov tools. Implementation of community-led upgrades increases the value of the Habitat platform and HBT.
Habitat is based on a circular economy. Builders, stakers, and active voters can earn while users and communities pay in HBT for rollup operator fees and new features.
When HBT and ETH are staked you earn the right to vote on important rollup design decisions. This can include challenge times, block finalizations, operator fees, and many more rollup-specific governance parameters.
All the rewards and profits of the rollup go towards the liquidity providers and HBT-ETH stakers on Habitat. Communities should not only benefit by low transaction fees or fast confirmation times but also by the very own profit Habitat generates.
The total supply of HBT is capped at 100.000.000 Habitat Token
84% = 84.000.000 HBT are fully locked and can only be unlocked via governance once the bootstrapping phase ends.
To ensure high security and no initial drain or rug pull only 0.5% can be unlocked per week. When no proposal is passed this rate will accumulate to allow bigger funding opportunities.
An initial supply of 2.000.000 was released during the bootstrapping phase of Habitat, which started on 10th March 2021.
During this fair launch, everyone could directly swap any ERC-20 token to HBT and the swap happened at a fixed rate of 0.25 DAI = 1 HBT.
There will be pre-defined proposals to unlock HBT for IDO and liquidity providers - the community is making the last call whether or not to initiate those proposals.
The genesis team are vesting their total cut of 9% over 3 years.
For future hires, operator fees and marketing/communication an additional 5% will be vested.
All funds will be dropped to and send out by a multi-signature wallet.
The overview shows a detailed distribution of the HBT token, the process will be facilitated by pre-deployed Droplet Contracts, which drip the 0.5% over a fixed period of time towards the assigned wallets and contracts.