7. Token Issuance
This is a single fungible token system consisting of a fixed supply of HIDE Tokens issued via an inflation mechanism over time.
The token supply is calculated, inflated and allocated at every Calculation Period.
7.1 Inflation curve
We employ a calibrated sigmoid population curve, P(t), generalised below.
Where M is the HIDE Maximum supply, t is the Calculation Period counter (t ∈ [0,∞)), k and c are constants to be resolved from the initial supply I(0), and a half-life inflection point of the curve, expressed in Calculation Periods t0.5.
Noting that the inflation rate is perpetual, since the curve is asymptotic tending to 100% (M), but becomes negligible in later years.
Figure 2 assumes the fastest issuance rate. i.e. there is 100% utilisation of HIDE.
7.2 Dynamic Inflation
Inflation is determined at the end of each calculation period by a time-dilation adjustment determined from the staking ratio S. The time-count t in P(t) is factored by S to determine the actual issuance for the period. For example, if staking S = 50% on a constant basis, P(t) would calculate {P(0), P(0.5), P(1)...} for calculation periods (0, 1, 2...).
7.3 Burn Adjustment
HIDE tokens that have been burnt have the effect of reducing the maximum supply M permanently. And so M is potentially reduced at the end of every Calculation Period by this amount B and included this way in the curve calculations.
7.4 Allocations
Investors includes three different pricing rounds (seed, strategic and private) that have identical liquidity. This follows the issuance pattern from the supply curve but is 100% issued by month 30 (highlighted in Figure 3).
Public Sale consists of a financing round that is fully liquid at TGE and any form of airdrop.
Treasury includes any discrete liquidity or partnership incentives.
7.5 User Incentives
50% of tokens are distributed over time to eligible LPs as described in Section 4; Either direct to HIDE LPs or to LPs directed by staked HIDE.
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