Tokenomics

Last update: 30 August 2024

Token Distribution

Glossary of Cap Table Terms:

Sales: pre-TGE private sales to raise funds and gain early support.
Founders and Team: core contributors of the project.
Industry Partners: strategic partners who provide crucial support.
Community Airdrop: Free distribution to promote the project.
Marketing and Growth: marketing efforts and ecosystem growth.
Treasury short-term: short term growth and operational needs including listing liquidity and market makers.
Treasury long-term: long term operational needs for expansion and long-term sustainability.

Notes (*)

*) Community Airdrop: We have allocated 160 million $RECORD tokens (16% of the total supply) on Base for community incentives and distribution as a token of our appreciation. These tokens will be distributed across multiple seasons, each carefully designed to enhance different aspects of our ecosystem. To date, only a portion of these tokens has been distributed across completed seasons, such as the pre-TGE season (SZN1) and the LBP season, with 88 million $RECORD tokens still remaining for distribution. The vesting terms we’ve indicated are projected averages and may vary with each season. We are committed to transparency and will keep our community informed as we move through these distribution phases. **) Treasuries: We have subdivided the treasuries into Marketing and Growth, Short-Term, and Long-Term categories to provide the community with a clear projection of their intended use, each aligned with its specific purpose. It’s important to note that these treasuries are 100% available at TGE, as there are no locks or vesting periods applied to them (please refer to the following section for detailed treasury management procedures). Additionally, these treasury categories do not form part of the circulating supply.

Treasury Management

The Web3 Music Association, the foundation behind the Music Protocol, is a non-profit organisation established under Articles 60 to 79 of the Swiss Civil Code.
It operates as an independent legal entity with legal capacity under Swiss law.
It is incorporated in Switzerland and follows strict compliance procedures.
The Association underwent a full regulatory assessment with the Swiss Financial Regulator (FINMA) to obtain a token classification as a utility.
It has a structured and rigorous governance model to ensure that management and team members fulfil their purpose of leveraging open-source distributed ledger software and protocols to directly or indirectly promote the growth, development, and adoption of such technologies within the music industry, the surrounding community, and the entire ecosystem.
To ensure the safety of token holders and align with the Association's mission, the treasuries are managed through a multi-signature (multi-sig) account controlled by the Association Governance.

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