RICE was launched on May 03, 2020 on Ethereum mainnet, with a fixed total supply of 100,000,000 RICE. All RICE are minted when it deployed. No RICE tokens can ever be minted over that hard cap.
RICE Total Allocation (v1, initial)
In the initial RICE total allocation plan (v1) when it was deployed, the total supply of RICE tokens allocated to 8 groups is shown below in the "RICE Total Allocation (v1, initial) chart.
In the initial allocation plan, Investors and Core Contributors have independent vesting schedules, while the other parts of RICE follow the linear unlocking periods starting in May 2021, and are currently available for use.
The following chart shows the unlocking timeline for each part under the RICE Total Allocation (v1, initial) lock-up rules, as well as the new unlocking timeline for Investors in v2.
As of now, the parts that have already been used and allocated include Community Reward, Public Pool, Market Maker, Marketing, and Core Contributors (phase 1, locked for 2 years, released linearly over one year), totaling: 4,211,290.82 RICE. The remaining 95,788,709.18 RICE will be allocated according to RICE Allocation v2.
RICE Allocation v2
The initial RICE total allocation plan (v1) was designed based on the structure of the foundation, similar to most crypto projects. In some ways, this structure is beneficial for project management, but it does not fully align with the design principles we outlined in Governomy. Specifically, it creates privileged groups outside the governance system. RICE Allocation v2 addresses this issue to ensure the security and credibility of the entire system.
The 95,788,709.18 RICE tokens allocated to 5 groups is shown below in the "RICE Allocation v2 chart.
Restructuring
Several allocation units in v1 are merged in v2:
- The remaining RICE quotas in Foundation, Marketing, Public Pool, and Community Reward (a total of 27,088,709.18 RICE) will be merged into the Treasury, controlled by goRICE holders.
- Incubator Reward retains the v1 quota (35,000,000.00 RICE), and will be transferred to the RICE Reward Pool upon the launch of Governimy to be automatically distributed by the Governomy economic system (cannot be controlled manually).
- Airdrop retains the v1 quota (1,000,000.00 RICE) and will be distributed upon the launch of the incubator. Any remaining will be transferred to the Treasury.
- Core Contributors Phase 1 allocation (1,300,000.00 RICE) has started the Vesting Schedule in July 2023 (via DAOSquare Incubator's Vesting APP). The remaining 13,700,000.00 RICE will start the Vesting Schedule in September 2024 (via DAOSquare Incubator's Vesting APP). Any remaining will be transferred to the Treasury.
- Investors retains the v1 quota (20,000,000.00 RICE) and will start the Vesting Schedule in September 2024 (through the DAOSquare Incubator's Vesting APP). Any remaining will be transferred to the Treasury.
Distribution
Each allocation unit's RICE will follow the rules below to distribute to the relevant recipients.
Allocate To | Initial Allocation | Use For | How To Distribute | Timeline |
Treasury | 27,088,709.18 | Development Fund | Expense Proposal in Governomy | n/a |
Incubator Reward | 35,000,000.00 | Reward to incubator users (Venture DAOs) | Automate with Governomy | Start when the incubator goes live |
Investors | 20,000,000.00 | Return to investors of DAOSquare | Automate with Vesting APP in DAOSquare Incubator | Sep 2024 - Sep 2025, releasing linearly |
Core Contributors | 13,700,000.00 | Reward to core contributors of DAOSquare Incubator | Automate with Vesting APP in DAOSquare Incubator | Sep 2024 - Sep 2025, releasing linearly |
Airdrop | 1,000,000.00 | Invite believers, promotors, builders, supporters in DAO space to participate in governance of DAOSquare. | Automate with Vesting APP in DAOSquare Incubator | Sep 2024 |
← Previous
Next →