The Pilgrim Token($PIL) is a token to align incentives for Pilgrim users. The following document informs how the token will be released upon launch and after 4 years.

Key Takeaways

  1. Tokens will be issued 100% at genesis. → In order to protect token price
    1. However, tokens for investors and builders have cliff and vesting.
    2. The number of total token is 1B.
  2. Token issuance will be executed by the DAO governance proposal on demand.
    1. Therefore, the stake of the community will be much higher compared to what this document proposes.
  3. Pilgrim is expected to use 40% of tokens over 4 years. Pilgrim controls the release of tokens by halving the reward parameter every year. However, since this is speculation, Pilgrim might use more or fewer protocol incentives tokens.

Token Release

Genesis Token Release

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Token Release at Year 1 Starts

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4+ years Token Release

Vesting for investors and builders will be finished at this time.

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Token Release Schedule Chart

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Investors

For the previous F&F round, 2.63% has diluted. Up to 4.5% of tokens will be diluted by launch. Investors have 2 years vesting with a 1-year lockup.

Builders

Builders have 2 years vesting with a 1-year lockup.

Strategic Reserve