9. Tokenomics
The Amaze team takes the distribution of our native digital cryptocurrency very seriously, and we aim to be as transparent as possible about our diligence and the steps we take to maintain ecosystem stability, deliver real value to our community of network infrastructure supporters, and token users, and ensure that our products and ecosystem grow. AmazeToken, $AMT, is a utility token. All commissions, marketplace purchases, gas fees, and mining rewards within AmazeWallet are made solely in $AMT tokens. The tokens are used to reward users and validators and serve as the unit of account for the sale and purchase of NFTs and rewards for the contributing processing power and validating transactions to secure the network (mining). Our tokenomics can be summarised in the following key takeaways:
AmazeToken is the basis of the smartwallet created by Amaze, and is a multifunctional token minted on the AmazeChain blockchain network for users to interact with the different product features of the ecosystem. The rollout of these will take place in a number of phases that will allow us to stabilise the features, collect user feedback and scale our services as our user base grows.
The maximum supply will be 200 million tokens. $AMT will be initially distributed during the Token Generation Event. 3.A total of 100,000,000 $AMT (50% of max supply) must be mined to add to the circulating supply. These tokens are mined by validating transactions and blocks, thereby securing the network, either by community miners (nodes on mobile) or commercial miners, and licenses can be purchased from the Amaze team. Each year a certain number of $AMT can be mined and that halves every four years, meaning the whole mining period is 128 years. More transactions in the ecosystem mean higher utility of AmazeToken. Distributing $AMT to nodes in the form of blocks ensures that the token issuance will be strictly tied to the number and volume of transactions conducted. 4.A total of 56,250,000 tokens will be reserved for the Foundation, and sold via a public sale. The token is currently listed on Coinstore and BitMart, with further exchanges to follow. These tokens will be used to support the utilities in the network infrastructure and ecosystem.
A total of 11,250,000 tokens will be available as Community Pool in the form of referrals and other similar campaigns.
A total of 32,550,000 tokens will be reserved for the Team and for Enterprise Buyers. These tokens will be locked for at least 24 months.
We will look to launch a DAO after launch, for which the $AMT will act as a governance token. Token holders will be given control over future changes to the protocol and the ability to vote for updates.
Half (50%) of all transaction fees collected in AmazeToken will be burned permanently to reduce the total supply. AMT’s CoinMarketCap listing is here.
Allocation of AMT:
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