📊VEP tokens
The initial supply is 50M VEP
Last updated
The initial supply is 50M VEP
Last updated
Veplus implements a dual token model to manage governance and utility:
veVEP as ERC-721 governance token
VEP as BEP-20 utility token
Users can receive veVEP by locking VEP tokens at any time. The lock period can be up to 2 years, following the linear relationship shown below:
100 VEP locked for 2 years will become 100 veVEP
100 VEP locked for 1 years will become 50 veVEP
The longer the lock time, the higher the voting power and the more rewards users receive.
At launch, the initial supply is 50M VEP. We reserved and distributed VEP and veVEP to users and protocols that will contribute to our mission to become the liquidity base-layer of the BNB Chain as follow:
10M (20%) VEP and veVEP tokens will be distributed to people who are likeliest to contribute to Veplus and and the BNB Chain long-term success through airdrops:
Community airdrop on June 30th: 2M (4%) veVEP tokens
Retroactive airdrop on July 18th: 2.5M (5%) VEP tokens
The airdrop of 10M (20%) veVEP is to attract and engage with top 20 protocols which are mostly to contribute to Veplus and the BNB Chain's long-term success. We will consider a number of metrics such as TVL, transaction volume, unique wallets and number of transactions.
We have reserved 9M (18%) veVEP to distribute to partner protocols after the launch. This will be used to engage partners in the BNB Chain's ecosystem through grants.
5M (10%) of the initial supply was allocated for TreeNFT minters. TreeNFT minters receive a mix of 50% VEP tokens and 50%veVEP NFT:
50% - veVEP locked for 2 years
50% - VEP tokens vested linearly over 8 weeks
9M (18%) veVEP was allocated for Veplus team. Veplus team will lock 100% of tokens for 2 years and vote for VEP/USDT pairs in perpetuity.
The BNB Chain team has a vested interest in ensuring that Veplus achieves its mission of serving as an ecosystem public good on the BNB Chain. 2.5M (5%) veVEP in the initial distribution was allocated for the BNB Chain team to support their vested interest.
We have reserved 2.5M (5%) VEP tokens to distribute to users and partner protocols. This will be used to grow users and build liquidity with partner protocols in the BNB Chain's ecosystem.
2M (4%) VEP of the initial supply will be paired with USDT or WBNB to provide liquidity at launch.
