The InsurAce platform will issue a standard ERC20 token, INSUR, as the governance token to incentivize the ecosystem participants retroactively.
The current use scenarios for INSUR tokens are as follows:
Representation of voting rights in community governance scenarios such as claim assessment, proposal voting, and etcetera
Mining incentives for capital provisions to the insurance pool and investment products
Eligible for fees generated by InsurAce protocol through governance participation
Community and ecosystem incentives
Along with the InsurAce Protocol development, we will include more use scenarios for INSUR tokens via community governance.
The supply and allocation plan for INSUR is designed as such:
Total supply: 100M INSUR
The distribution plan for the tokens is as the table shown below.
15% unlock upon token generation event (TGE), linear vesting/block over 2 years for the rest starting from the 3rd month after TGE
25% unlock upon token generation event (TGE), linear vesting/block over 2 years for the rest starting from the 3rd month after TGE
Team & Advisors
5% unlock upon TGE, linear vesting/block over 2 years for the rest starting from the 3rd month after TGE
Reserved for liquidity provision on exchange listing, marketing initiatives, developer grants, bug bounty programs, strategic partnership, and long-term development of the platform
Initial Liquidity Bootstrap
Public sale on Balancer LBP for liquidity bootstrapping and promoting community awareness
In accordance with the mining schedules
The above token distribution plan may subject to changes via community governance from time to time.