# Tokenomics

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Transfer Restrictions

The content contained in this website does not constitute an offer or sale of securities in or into the United States, or to or for the account or benefit of U.S. persons, or in any other jurisdictions where it is unlawful to do so.

Transfer of BIT tokens may be subject to legal restrictions under applicable laws. Under no circumstances shall BIT tokens be reoffered, resold or transferred within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended.
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## **BIT Token Address**

0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5

## **Current State**

As of 2023 May 20th, as authorized by [BIP-21](https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693), the current state of token holdings and vesting status is as follows:

<table><thead><tr><th width="212">Holder Category</th><th width="245.33333333333326">Addresses</th><th>Comment</th></tr></thead><tbody><tr><td>BitDAO Treasury<br>aka. Mantle Treasury</td><td><a href="https://etherscan.io/address/0x78605Df79524164911C144801f41e9811B7DB73D">0x78605Df79524164911C144801f41e9811B7DB73D</a></td><td>All distributions are authorized via <a href="https://snapshot.org/#/bitdao.eth">Snapshot Proposals</a>, and viewable via <a href="https://treasurymonitor.bitdao.io/">Treasury Monitor</a></td></tr><tr><td>Burn</td><td><a href="https://etherscan.io/address/0x000000000000000000000000000000000000dead">0x000000000000000000000000000000000000dEaD</a></td><td></td></tr><tr><td>All Others</td><td>Various</td><td>No remaining vesting schedules.</td></tr></tbody></table>

## **Historical State and Changes**

### **Supply and Inflation**

#### Initial State and Authorized Changes

* On 2021 July 15th the $BIT token was launched with a max supply of 10,000,000,000 tokens (with no inflation). Other token parameters are described in the following [Token Design research article](https://github.com/windranger-io/public-docs/blob/main/research/R003.md#token-design-research).
* Initial state [distribution and vesting](https://docs.bitdao.io/litepaper-1/tokenomics#distribution-and-vesting) schedules are listed below.
* All subsequent BIT purchases, BIT disbursements, and BIT burns from the BitDAO Treasury have been authorized via [Snapshot Proposals](https://snapshot.org/#/bitdao.eth), and are viewable via [Treasury Monitor](https://treasurymonitor.bitdao.io/).

#### Notable Items

* As of 2022 September 15th, as per launch parameters, all private sale vesting has been completed.
* As of 2023 April 5th, as authorized by[ BIP-20](https://snapshot.org/#/bitdao.eth/proposal/0x6ebdd692948cb84ef2f1855718ffd4aa6421c092a656825870f70b2c27485040), the majority of Bybit Locked vesting will be transferred to the BitDAO Treasury for community ownership.
* As of 2023 May 20th, as authorized by [BIP-21](https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693), all BIP-20 contributions to the Treasury has been accelerated and completed.
* As of 2023 May 20th, as authorized by [BIP-21](https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693), all Bybit Locked amounts have been vested.

### **Distribution and Vesting**

#### **Summary - Parameters at Launch**

<table><thead><tr><th>Category</th><th width="126">Total Supply</th><th width="116">Available at Launch</th><th width="136">Cliff Period</th><th>Vesting Schedule After Cliff</th></tr></thead><tbody><tr><td>Private Sale</td><td>5%</td><td>0%</td><td>3 months</td><td>Vested linearly over 12 months</td></tr><tr><td>Launch Partner Rewards</td><td>5%</td><td>5%</td><td>N/A</td><td>N/A</td></tr><tr><td>BitDAO Treasury</td><td>30%</td><td>10%</td><td>3 months</td><td>Vested linearly over 12 months</td></tr><tr><td>Bybit Flexible</td><td>15%</td><td>15%</td><td>N/A</td><td>N/A</td></tr><tr><td>Bybit Locked</td><td>45%</td><td>0%</td><td>12 months</td><td>Vested linearly over 24 months</td></tr></tbody></table>

*Note: Private sale and launch partner rewards are still being finalized, and the numbers are subject to change. Unallocated amounts will be returned to Bybit. (completed December 11, 2022).*

#### **Private Sale**

* First vesting: October 15, 2021

#### **Launch Partner Rewards**

* 2.6% for SushiSwap

#### **BitDAO Treasury**

* BitDAO Treasury will hold 30% of total BIT tokens
* Tokens can be used for swaps, grants, milestone rewards, etc. All usage will be executed only after a DAO proposal and vote.
* Treasury tokens are effectively owned by token holders in proportion to their token holdings (e.g. a 1% token holder has a look-through ownership of 1% of the 30%, or an additional 0.3% of overall tokens)

**Bybit Flexible and Bybit Locked**\
\
Bybit has pledged to contribute significantly to the BitDAO treasury, see details [here](https://docs.bitdao.io/partners/bybit-pledge). As a result Bybit will hold a large percentage of BIT tokens at launch. As these tokens are privately held by Bybit, they can be used for any purposes, including: to establish R\&D centers to support BitDAO, to support Bybit business growth, to reward Bybit or BitDAO affiliated R\&D center employees and stakeholders.

### Additional Data

#### **Key Addresses List**

<table><thead><tr><th width="225.43669250645996">Category</th><th width="568.56330749354">Address</th></tr></thead><tbody><tr><td><strong>Private Sale</strong></td><td><a href="https://etherscan.io/address/0x117c7c3835e7465926AE4ebc3F4e5A3c5afE108d">0x117c7c3835e7465926AE4ebc3F4e5A3c5afE108d</a><br>note: all vesting has been completed by September 15, 2022</td></tr><tr><td><strong>Launch Partner Rewards</strong></td><td><p><a href="https://etherscan.io/address/0xF405127e31E96216F6214983546E7A2dE2b9881b">0xF405127e31E96216F6214983546E7A2dE2b9881b</a></p><p><a href="https://etherscan.io/address/0xd9107D1d077C2516e83cB41f41883570D904f050">0xd9107D1d077C2516e83cB41f41883570D904f050</a></p></td></tr><tr><td><strong>BitDAO Treasury</strong></td><td><a href="https://etherscan.io/address/0x78605Df79524164911C144801f41e9811B7DB73D">0x78605Df79524164911C144801f41e9811B7DB73D</a><br><a href="https://etherscan.io/address/0x02c2E03c5F241794909D953F5b8fA630856F172C">0x02c2E03c5F241794909D953F5b8fA630856F172C</a></td></tr><tr><td><strong>Mantle Core Budget</strong></td><td><a href="https://etherscan.io/address/0x1B9Cef6Bdd029f378c511E5e6C20eE556b6781b9">0x1B9Cef6Bdd029f378c511E5e6C20eE556b6781b9</a></td></tr><tr><td><strong>Bybit Flexible</strong></td><td><a href="https://etherscan.io/address/0x5a076b2D0941F2BC9b49d05D3a1FF9C7aCDc5e78">0x5a076b2D0941F2BC9b49d05D3a1FF9C7aCDc5e78</a></td></tr><tr><td><strong>Bybit Locked</strong><br>Note: As of 2023 May 20th, as authorized by <a href="https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693">BIP-21</a>, all Bybit Locked amounts have been vested.</td><td><p><a href="https://etherscan.io/address/0xE5791f93b997c7Fc90753A1f2711E479773a2A87">0xE5791f93b997c7Fc90753A1f2711E479773a2A87</a></p><p><a href="https://etherscan.io/address/0xf6032C7c15bF4B56bfc5D69208f9ce47F5958512">0xf6032C7c15bF4B56bfc5D69208f9ce47F5958512</a></p><p><a href="https://etherscan.io/address/0xb67e28a7e0D1AD886eeeb18B0BDa55b7Efb56113">0xb67e28a7e0D1AD886eeeb18B0BDa55b7Efb56113</a></p><p><a href="https://etherscan.io/address/0x991A91681f80cb890338B89C1A72be719A902d8B">0x991A91681f80cb890338B89C1A72be719A902d8B</a></p><p><a href="https://etherscan.io/address/0x16fE6e64447051b1Eb68d6408F041ac22f6fd563">0x16fE6e64447051b1Eb68d6408F041ac22f6fd563</a></p><p><a href="https://etherscan.io/address/0x44b4bABd7cbC8cE32Dc3Ff77ed9B6dF9E2D11003">0x44b4bABd7cbC8cE32Dc3Ff77ed9B6dF9E2D11003</a></p><p><a href="https://etherscan.io/address/0x3329Fbcda16f15c4Ed1D6847BF18e9d045EE941F">0x3329Fbcda16f15c4Ed1D6847BF18e9d045EE941F</a></p><p><a href="https://etherscan.io/address/0xa2E5e8A607562B7BdA05d5820e569C290b43be6D">0xa2E5e8A607562B7BdA05d5820e569C290b43be6D</a></p><p><a href="https://etherscan.io/address/0x3A9B1Da81ca44FEBc97A713242F6a3FeeeC7C891">0x3A9B1Da81ca44FEBc97A713242F6a3FeeeC7C891</a></p><p><a href="https://etherscan.io/address/0xc20C13D2303EEAEEaeb7f73BabF7014bce6D130a">0xc20C13D2303EEAEEaeb7f73BabF7014bce6D130a</a></p></td></tr><tr><td><strong>BIT Burn</strong></td><td><a href="https://etherscan.io/address/0x000000000000000000000000000000000000dead">0x000000000000000000000000000000000000dEaD</a></td></tr></tbody></table>

*Note that due to "delegate all" constraint, there may be more Bybit Locked addresses in the future as the delegatee list is expanded (each address can only select a single delegatee to delegate votes to).*<br>

#### **Bybit Locked - Vesting Schedule and Tracking**

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Note: As of 2023 May 20th, as authorized by [BIP-21](https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693), all Bybit Locked amounts have been vested. The information below is for historical record purposes only.
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For the purposes of tracking and analytics, vested tokens from Bybit Locked will be transferred to Bybit Flexible according to the vesting rules above.

Total number of tokens in Bybit Locked addresses can be viewed here: <https://portfolio.nansen.ai/dashboard/APE-EJWYHS>

<table><thead><tr><th width="108.33333333333331">Vesting</th><th width="164">Date</th><th>Target Units of $BIT remaining in Bybit Locked </th></tr></thead><tbody><tr><td>0</td><td>2022-07-16</td><td>4,500,000,000</td></tr><tr><td>1</td><td>2022-08-16</td><td>4,312,500,000</td></tr><tr><td>2</td><td>2022-09-16</td><td>4,125,000,000</td></tr><tr><td>3</td><td>2022-10-16</td><td>3,937,500,000</td></tr><tr><td>4</td><td>2022-11-16</td><td>3,750,000,000</td></tr><tr><td>5</td><td>2022-12-16</td><td>3,562,500,000</td></tr><tr><td>6</td><td>2023-01-16</td><td>3,375,000,000</td></tr><tr><td>7</td><td>2023-02-16</td><td>3,187,500,000</td></tr><tr><td>8</td><td>2023-03-16</td><td>3,000,000,000</td></tr><tr><td>9</td><td>2023-04-16</td><td>2,812,500,000</td></tr><tr><td>10</td><td>2023-05-16</td><td>2,625,000,000</td></tr><tr><td>11</td><td>2023-06-16</td><td>2,437,500,000</td></tr><tr><td>12</td><td>2023-07-16</td><td>2,250,000,000</td></tr><tr><td>13</td><td>2023-08-16</td><td>2,062,500,000</td></tr><tr><td>14</td><td>2023-09-16</td><td>1,875,000,000</td></tr><tr><td>15</td><td>2023-10-16</td><td>1,687,500,000</td></tr><tr><td>16</td><td>2023-11-16</td><td>1,500,000,000</td></tr><tr><td>17</td><td>2023-12-16</td><td>1,312,500,000</td></tr><tr><td>18</td><td>2024-01-16</td><td>1,125,000,000</td></tr><tr><td>19</td><td>2024-02-16</td><td>937,500,000</td></tr><tr><td>20</td><td>2024-03-16</td><td>750,000,000</td></tr><tr><td>21</td><td>2024-04-16</td><td>562,500,000</td></tr><tr><td>22</td><td>2024-05-16</td><td>375,000,000</td></tr><tr><td>23</td><td>2024-06-16</td><td>187,500,000</td></tr><tr><td>24</td><td>2024-07-16</td><td>0</td></tr></tbody></table>

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