The Shimmy Utility Token, is a Reward & Incentive currencythat engages the network, incentivises usership and brings utility and transparency. It is carefully designed to provide upwards price pressure as usership grows.
At launch, there will be no inflation. Although our community will decide upon the inflationary model specifications, to be inbuilt after 12 months. The total initial circulating supply will be capped at 1,052,500,000 $SHM Tokens.
As is outlined below, +50% of the total supply will be distributed to the community. This community and stakeholder leverage emphasises our commitment to transparency, with bottom up governance and transparent, decentralised operations.
A further breakdown of the Token information, including distribution, addresses and permissions will be made available in our treasury page.
With 1,052,500,000 SHM Tokens circulating upon TGE. The locked Token Supply remains in a Multisig, to be vested via the treasury at allotted timescales.
Total Token Supply
The maximum token supply is 5,000,000,000 $SHM Tokens. This supply will be gradually reduced throughout the 3 years following launch, with a deflationary model. This will reduce the total supply of the Token, as it releases into the market.
At yearly intervals for the first 3 years after TGE, Shimmy will hold token burn events, whereby a minimum of 5% of the remaining Token Supply in the Treasury Multisig will be burned. This ensures a relative limited supply as the Token continues to release into the market, and aids an increase in the value of the token. Below indicates the maximum supply of the token after the 3 burn events:
With this gradual and subtle reduction to the maximum supply, met with the gradual vesting schedule feeding the token to the market. The Token supply remains consistently incremental, positioning towards stability and upwards price movement.