Saito Token Distribution
Note: This document is an easy to access version of the information available at https://saito.io/saito-tokenomics.pdf and includes updated information on current distribution.
ERC20 SAITO (wrapped SAITO)
A portion of the network is available in wrapped ERC20 form. All purchasers other than public sale participants face lengthy vesting periods.
ERC20 Saito may be converted to Layer-One SAITO on-demand. The token exists to simplify purchase and for permissionless integration in off-chain applications.
Additional benefits to holding ERC20 SAITO include the right for token withdrawal onto any public Saito fork operating under the open source license.
Layer-One SAITO (on-network SAITO)
Layer-One SAITO are used on-chain and are not directly convertible to ERC20 Saito. Most token allocations exist in this category.
We expect the private sector to step in to provide convertibility and liquidity to holders of on-chain Saito as the network grows and transaction volume.
Transfers and balances of on-chain Saito are not guaranteed while the network is under development. We expect to announce support for on-chain token persistence towards Autumn 2021.
ERC20 Token Distribution 2021
N.B: 2% of Contributors/Dev and 3% of Foundation token pool may also be made available as wrapped ERC20 tokens this year.
ERC20 Token Vesting Schedule
ERC20 convertibility for tokens purchased by seed and private round backers is restricted by a vesting schedule that will release tokens gradually over the next 12 months.
These figures indicate maximum availability. Not all holders are converting and tokens withdrawn from the ERC20 for use on the Saito network cannot be converted directly back into the Saito ERC20.
Layer-One Token Distribution
Contributors / Devs — 15%
Allocation to fund software and network developers working on the core protocol and significant applications for the next decade.
Strategic Partners — 10%
Pool to subsidize on-chain transaction and development costs for third-party companies investing their own resources in building PKI applications on the Saito network.
Rewards-10%
Funds for token faucets, airdrops and other incentive programs to build community.
Foundation-20%
Flexible pool intended for community distribution and management and oversight. Exact mechanism for operating the Saito Foundation is to-be-determined in 2021 following the public sale.*
Core Team-15%
Compensation for early developers and network creation in the first three years of network development. These tokens are not convertible to ERC20 or other more liquid token types for a minimum of five years.
* potentially available for conversion to ERC20 Saito from 2022 onward beyond 2021 earmarked amount on p3.
Addendum
Updated post IDO which took place on 2021–04–22
Minting
2021–04–20: 3,000,000,000 Tokens Minted
Project Distribution
2020–04–20: 2,500,000,000 to Private Sale Disbursement Wallet
2020–04–20: 300,000,000 to Foundation Wallet
2020–04–20: 200,000,000 to Contributor/Devs Wallet
Private Sale Distribution (IDO and First Vesting)
An IDO was held on Polkastarter on 2021–04–22, after which Seed and Private sale tranches were vested, and liquidty pools were released for Uniswap.
After this distribution total circulating supply is 901.3MM SAITO, with a further 124.7MM SAITO providing liquidity from a total supply of 3B SAITO.
Please refer to this link for a full account. As noted given Seed supporters choosing not to vest at the first opportunity this had a relatively small effect on circulating supply, that will return to the intended schedule at the second vesting date (2021–07–22).
This had a relatively small effect on circulating supply for reasons outlined in the link above.
