The Shimmy Token, through a scheduled launch event, will make its way to the ADA compatible wallets of early community members early June 2022. The initial token sale event will represent 20% of the total supply, and will largely be vested via the treasury throughout future TGEs.
In restricting the initial circulating supply of the $SHM Token and strategically releasing it through future events, the aim is to create upward price pressure as the supply increases. The breakdown below, highlights the initial distribution of the token at launch.
The below table displays the allocation of the total supply of Shimmy Token at the time of the Token Generation Event (TGE). The further 'Total Percentile', will be vested from the Treasury Multisig at the predetermined timescales.
The token will be meticulously released to the community and founding network. We will ensure the initial distribution remains fair through 'Whaleproofing' - ensuring a maximum trade purchase of 50,000,000 $SHM Tokens.
In line with our Vesting Agreement. The Shimmy Team, Advisors & Investors will receive their allocation of the Token at specified timescales throughout the 18 months following the TGE. These vesting schedules are standardised and must be adhered to. Only public/ exchange sales will be immediately available.
Prior to launching $SHM Token on the mainnet, we will be conducting regular audits of our token & smart contracts. These will be reported openly to the Shimmy community.