Keep + NuCypher: Token Design Proposals for KEANU

Proposal One:

  • Phase one: an initial distribution — 50M allocated to KEEP and NU holders, via staking and Merkle roots.
  • Phase two: a market launch, when tBTC v2 will be ready to launch — 20M sold via a tBTC raise to the DAO treasury.
  • Phase three: where 30M rewards start being distributed in both tBTC and T1.

Proposal Two:

  • 75% to existing token holders (this percentage is split 50/50 between Keep and NuCypher token holders).
  • 12.5% stakedrop for the first six months. Anyone who stakes TBTC V2 would qualify to receive stakedrop tokens. This is to incentivize people to start staking on the network quickly
  • 7.5% to stakers based on time staked in the existing networks x amount staked. This is based on the amount and time staked on the networks to get tokens into the hands of active network users and create incentives to remain staked in existing networks.

Proposal Three:

  • 45% (225 Million) dropped to current KEEP and NU holders.
  • 5% (25 Million) dropped to past stakers in both networks.
  • 15% of the tokens will be sold. This is to generate liquidity and incentivizing new investors.
  • 50% of the total supply goes to bootstrapping tBTCv2 through the treasury. 20% of the amount allocated to the treasury will be locked for future projects, mergers, and bootstrapping. It will gradually unlock over the next five years.

Proposal Four

Proposal Five

  • 10% treasury
  • 10% liquidity incentives
  • 55% for KEEP/NU/T stakers. The staking power of NU/KEEP will keep decreasing while the power of T5 stakers will gradually increase.

Proposal Six

  • NU and KEEP tokens will continue to live on and be tradeable on centralized and decentralized exchanges.
  • WorkLock 2.0
  • Over 90 days in July, any NU or KEEP holder can lock their tokens for four years for the right to receive T6 tokens at the price of $0.001
  • When Keanu launches, people will receive T6, and all T6 will be locked for three months.
  • After 90 days, NU and KEEP tokens will be exchangeable directly for T6. There will be a simple swap through an LP that will hold any T6 tokens that have been allocated to KEEP/NU holders.
  • T6 CDP
  • The lending protocol will be deployed that would enable NU or KEEP tokens to wrap all collater and borrow T6 tokens against that collateral.
  • Anyone holding NU or KEEP can wrap that asset.

Current Thoughts

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crypto + privacy @ Figment | also, social science

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Elizabeth Barnes

Elizabeth Barnes

crypto + privacy @ Figment | also, social science

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