Summary #
The PRIMA token will empower the StoryPrima community to build and shape a rich ecosystem of #StoryFirst NFT projects that are meaningful, transformative, and "built to last."
PRIMA token holders will have governance power over the DAO in many areas, especially about which projects the DAO will incubate.
PRIMA:
- Has a total maximum supply of 250 million tokens.
- Token hard cap. No additional tokens can be minted. PRIMA's supply will never increase.
- The token does not have native burning capabilities. However, the DAO will utilize revenues from incubated projects and other sources to buy and burn PRIMA (by sending the token to the Ethereum "burn address.")
Token Distribution #
PRIMA will be distributed among four groups, as outlined below.
73.5%: Ecosystem Fund
Fund dedicated to supporting incubated projects, distributing PRIMA to the community, DAO Treasury, etc.
- Ecosystem Fund unlocked over 48 months
- 64,312,500 tokens reserved for:
- Holders of NFTs from StoryPrima-incubated projects
- Participants in lore/story-building initiatives run by StoryPrima-supported projects such as Legends of Cypher
- Other community incentives
- 119,437,500 tokens allocated to DAO Treasury (Treasury funds will be used to support incubated projects, pay
DAO contributors, develop Web3 applications, produce media properties and research, etc.)
- 64,312,500 tokens reserved for:
17%: StoryPrima DAO Founders
The group responsible for launching the StoryPRIMA DAO
- 42,500,000 tokens to StoryPrima DAO founding team
- 10% unlocked immediately
- 90% unlocked over 36 months
3%: Liquidity Bootstrapping Event
Event designed to bolster PRIMA liquidity
- 7,500,000 tokens for liquidity bootstrapping event
- Dutch auction held where community can purchase PRIMA tokens; 60% of proceeds used to provide DAO-owned liquidity for PRIMA token, 40% allocated to DAO treasury
5%: Investors/Advisors
Provided to early StoryPrima advisors/investors
- A maximum of 12,500,000 tokens provided to project advisors/investors
- Investor/advisor shares unlocked over 36 months
- Investor/advisor shares unlocked over 36 months
1.5%: Holders of Legends of Cypher Origin Collection NFTs
Airdrop to holders of LoC NFTs (details to be announced)
- A maximum of 3,750,000 tokens airdropped to holders of Origin Collection NFTs from StoryPrima DAO's first incubated project, Legends of Cypher
Estimate of total initial circulating supply (after the airdrop and liquidity bootstrapping event): ~13 million PRIMA.
