Selenium Token (SELE)
The Selenium Token ($SELE) is Selenium Protocol's governance token. It must be used to vote on active proposals and is required as a deposit for making new governance proposals. In future iterations of Selenium, it will serve further purposes for the protocol that increase its utility and value.
Users that stake $SELE tokens also earn $SELE rewards.
Selenium Token is also used to incentivize users to farm yields by staking LP tokens which were minted by providing liquidity for $SELE and Selenized Assets (sAsset). Yield is paid to the users from $SELE that are newly minted through annual inflation, which gradually increases the total supply of $SELE until the end of distribution period.
Selenium Token Supply
Selenium Token ($SELE) built on a blockchain have set up algorithmically created release schedules. This means we can accurately predict how many coins will be made by a specific time.
There are planned to be a total of 108,270,800 SELE tokens to be distributed over 4 years. Beyond that, there will be no more new $SELE tokens introduced to the supply.
Distribution Schedule (Token per Year)
| Genesis | 1st Year | 2nd Year | 3rd Year | 4th Year | |
|---|---|---|---|---|---|
preSELE Airdrop | 25,000,000 | - | - | - | - |
preSELE Reward | 500,000 | 4,147,200 | 2,073,600 | 1,036,800 | 518,400 |
Launchpad Airdrop | 500,000 | - | - | - | - |
sAsset Lp Staking | 2,000,000 | 7,257,600 | 5,443,200 | 3,628,800 | 1,814,400 |
Staking Rewards | 500,000 | 3,110,400 | 2,592,000 | 2,073,600 | 1,555,200 |
Development | - | 6,220,800 | 4,665,600 | 3,110,400 | 1,555,200 |
Liquidity & Community | 6,250,000 | 2,592,000 | 2,073,600 | 1,555,200 | 1,036,800 |
Marketing & Listing | 3,000,000 | 5,184,000 | 3,888,000 | 2,592,000 | 1,296,000 |
$SELE Supply | 37,250,000 | 65,762,000 | 86,498,000 | 100,494,800 | 108,270,800 |
Annual Inflation (%) | - | 76.54% | 31.53% | 16.18% | 7.74% |
All tokens of the scheduled distribution will be remodeled in proportion to the preSELE airdrop.
Genesis Token Distribution
Total of 37,250,000 tokens are available at Genesis of Selenium Protocol. The distribution of these tokens will be made as below:
preSELE airdrop: 67.11% (25M) tokens will be airdropped to preSELE partecipants.
Launchpad Airdrop: 1.34% (0.5M) tokens will be airdropped to all Launchpad participants.
sAsset Lp Rewards: 5.37% (2M) tokens wil be allocated to the address containing all the rewards for the Selenium ecosystem rewards.
Marketing & Listing: 8.05% (3M) tokens will be allocated to Marketing and Listing reserve address.
Liquidity & Community Pool: 16.78% (6.25M) tokens will be used for initial liquidity and allocated to the community pool.
Staking Rewards: 1.34% (0.5M) tokens will be allocated to Staking Reserve address.
Dynamic Emission Schedule
Tokens emission will occur block by block, in ascending order over the first 4 years:
1st Year: 5.5 $SELE per block
2ndYear: 4 $SELE per block
3rd Year: 2.7 $SELE per block
4th Year: 1.5 $SELE per block
Emission Program (Token per Block)
| 1st Year | 2nd Year | 3rd Year | 4th Year | |
|---|---|---|---|---|
sAsset Lp Staking | 1.4 | 1.05 | 0.7 | 0.35 |
Marketing & Listing | 1 | 0.75 | 0.5 | 0.25 |
Development | 1.2 | 0.9 | 0.6 | 0.3 |
preSELE Rewards | 0.8 | 0.4 | 0.2 | 0.1 |
Staking Rewards | 0.6 | 0.5 | 0.4 | 0.3 |
Community Pool | 0.5 | 0.4 | 0.3 | 0.2 |
Total | 5.5 | 4 | 2.7 | 1.5 |
All further changes to the distribution of $SELE tokens per block will only be made via Governance voting.
Final Token Distribution
Total supply of SELE tokens will increase for 4 years due to inflation, until the total token supply becomes 108,270,800.
The distribution structure at the end of year 4 will look like the below:
preSELE Airdrop: The airdrop amount which was originally allocated to preSELErs, will now account for 23.09% (25M) of the total token supply.
Launchpad Airdrop: The airdrop amount allocated to Genesis to all launchpad participants will represent 0.46% (0.5 million) of the total token supply at the end of the distribution.
Staking Rewards: 9.08% (9.83M) tokens will be distributed to all stakers and governance participants
preSELE Rewards: 7.18% (7.77M) tokens are distributed to respective preSELE holders.
Development: 14.36% (15.55M) tokens will be distributed and used for the continuous development of the protocol.
sAsset LP Staking: 18.61% (20.14M) tokens are distributed to all sAsset staking pools by the end of year 4. Tokens are distributed daily to each staking pool based on their allocation point compared to other assets.
Marketing & Listing: 14.74% (15.96M) tokens will be distributed in the marketing address and will be used for advertising campaigns, partnerships and future CEX listings.
Liquidity & Community Pool: 12.48% (13.5M) of total $SELE supply will be distributed to Community Pool by the end of year 4.
Distribution Rate (Inflation)
Inflation rate of $SELE tokens are designed to gradually decrease every year until it reaches 108,270,800 at the end of year 4. After the end of year 4, no more $SELE tokens will be minted through inflation.
Staking Rewards & Buyback
Selenium token holders who decide to lock their $SELE tokens receive rewards in the following methods:
For each block, $SELE tokens will be distributed to all stakers (see Staking Rewards in the table).
All protocol fee generated by Selenium are exchanged into $USTC from the CDP collateral and sold to buy $SELE via Terraport after being sent to the Collector contract. $SELE tokens are then distributed as rewards to $SELE stakers and voters in proportion to the percentage of the total stake. This process balances the generation of new $SELE by creating buying pressure.
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