The UDOT is UDOT application native token. The token is necessary for the correct operation of the network.
Honest participants are rewarded UDOT and malicious actors can lose their UDOT.
Token Name: UDOT (UDOT)
Anticipated Launch: November 2022
Smallest Unit: 1 Planck (1^10 Plancks = 1 UDOT)
Annual Inflation: 7%
Genesis Supply: 1 Billion
Fees: 50% burned / 50% treasury
|Strategic Private Sale||250,000,000||25%||Subject to 12 months vesting. Sold to private investors through a private sale.|
|Marketing Incentives||100,000,000||10%||Rewards that are granted to the community through marketing efforts. Freelancers and organizations will be given seed funds to start using the application.|
|Parachain Lease||200,000,000||20%||These funds are reserved for incentivizing Universaldot’s parachain lease on Polkadot for the first 2 years. It will likely be paid out to users who lock DOT in continuous interest payments similar to staking.|
|Team and Advisors||150,000,000||15%||Subject to 24 months vesting. Under the control of Universaldot to reward early team members and future employees.|
|Universaldot Foundation||300,000,000||30%||Under the control of Universaldot Foundation, a non-profit entity.|
UDOT is used in various parts of the core protocol. The main uses are outlined below:
- The base currency of exchange.
- The staking token will be rewarded to stakers who run validator nodes supporting the network.
- The governance token will be used to make binding decisions over the direction of the UDOT chain.
- As the currency for transaction fees.