Who holds the STEAK?
SteakHut has a Total Supply of 5,000,000 $STEAK. No further $STEAK will ever be minted.
A large proportion of $STEAK will be vested on launch, and slowly released over time. This will help further reduce any initial dilution.
$STEAK will have a Total Supply of 5,000,000 Tokens
$STEAK-Holders can earn revenue shares by staking their tokens.
SteakHut will be conducting an emission schedule of 50% of the token supply or 2,500,000, to Zappers to incentivize Zapping. The emission schedule will follow a logarithmic decay function, rewarding our earliest Zappers and reducing supply over time.
Of the remaining $STEAK supply:
- 20% are reserved for the SteakHut team (locked and vested).
- 15% will be held in reserve for Zappers and JLP depositors and used as needed.
- 5% will be held by the community treasury and will be used for various purposes such as bug bounties, partnerships, marketing, and community engagement.
Purpose: Incentivize early JOE Zapping with SteakHut by rewarding $STEAK emissions
To encourage the long-term holding of Zapped Joe tokens, as well as early Zappers, the emission schedule will follow a logarithmic decay emissions schedule.
The allocation may also be used to further incentivize other users: JLP depositors, STEAK-Holders, LP providers (hJOE:JOE & $STEAK:AVAX) as required. This will be at the discretion of the SteakHut team to best optimize the protocol.
In the early stages of the protocol, Zappers will be rewarded with $STEAK. After SteakHut Community Treasury reserves and liquidity is sufficient, Zappers will instead be rewarded with a profit share, through staking. Profit shares will be paid in $JOE.
Herd emissions will be operational over a 24-month period, or until hJOE staking is introduced (at the discretion of the SteakHut team).
To ensure an appropriate token release schedule a decay emission schedule will be utilized. A model where the emission rate is higher earlier on and slows down over time will Incentivize high yields for our earliest users.
Purpose: Aligning the interest of the SteakHut development team with the entire SteakHut community
Vesting: 6 month Cliff, 12 month Linear Vest
SteakHut bonus rewards will be deployed discretionarily as incentives based on market conditions.
These may be added to further boost emissions as needed.
Bonus Emission tokens will be held in reserve over a 24-month period, by the SteakHut Community Treasury.
Bonus tokens may also be used in selected Airdrops and marketing strategies geared towards JLP depositor inflows to the SteakHut protocol.
Bonus Emission Tokens may also be used to incentivize other SteakHut LPs including STEAK-AVAX and hJOE-JOE as needed, such as through double reward farms.
SteakHut is extremely excited to be using Rocket Joe in order to bootstrap liquidity for our governance token, $STEAK.
Rocket Joe allows us to generate liquidity in the form of a STEAK-AVAX liquidity pool. This will allow SteakHut to generate Protocol Owned Liquidity, with 50% of all liquidity raised during the Rocket Joe Launch belonging to SteakHut.
The LP tokens that participants receive from the Rocket Joe launch will have no locking period.
- Launch Date: 05/05/2022
- Liquidity Raised: 10,353 AVAX
Purpose: Progressing the SteakHut Protocol
Vesting: 10% TGE, 12 month Linear Vest
5% will be held by the community treasury and will be used for various purposes such as bug bounties, partnerships, marketing, and community engagement.
The use of these tokens will be dictated by the SteakHut team and used in a manner to benefit the entire SteakHut community.