πŸͺ™Launch Phases

BitBadges plans to execute a two-phased launch:

Phase 1: Beta

Betanet is the initial phase of BitBadges upon launch. This is a phase where we plan to ship fast, gain feedback quickly, and iron out all bugs as quickly as possible in order to build the best product for you long term.

To allow us to do so, there will be no governance decisions, and all in-app credits will be purchasable via a faucet-like system (explained below).

Phase 2: Official Mainnet

Once betanet is concluded and we feel ready, we will officially deploy a mainnet version of BitBadges. Everything will carry over.

In mainnet, we will look to decentralize further, operate under a governance model, and see out our vision as a fully decentralized and indestructible protocol. Time of this phase is TBD but most likely, this will be started when the betanet faucet runs out.

We will also look to migrate to being fully open-source where possible.

Credits ($BADGE vs $STAKE)

$BADGE is the in-app compute credits system we use for blockchain transaction fees, such as creating or transferring badges. All transactions will require a fee of some number of credits.

$STAKE is used by nodes to secure the network. BitBadges operates under a proof-of-stake consensus model using $STAKE. Once mainnet phase launches, we also plan for $STAKE to be used in governance decision votes.

IMPORTANT: $BADGE and $STAKE are NOT to be speculated upon. It is a system which is intended for purchase and usage as in-app compute credits, not trading, exchanging, etc.

Tokenomics of $BADGE

Total Supply: 100,000,000

Inflation: None

All $BADGE credits will be minted upon genesis (i.e. no inflation / deflation) and distributed as explained below.

Initial Airdrop: 10,000,000

Criteria: TBD

To claim, go to the BitBadges website, sign in, and navigate to a page which requires registration, such as the Create tab.

Faucet: 90,000,000

The rest of the supply is simply up for purchase via the BitBadges site. BitBadges reserves the right to dynamically increase / decrease according to demand.

Tokenomics of $STAKE

Initial Supply: 100,000,000

Inflation: 7-20% (Set at 13%)

$STAKE will inflate at rate of 7-20% per year. Learn more about how this works here. This serves as an incentive for nodes to put their stake to work and secure the network and earn more.

Allocation

Reach out to us in DIscord if you are interested in running a node. $STAKE will be distributed (while supplys last) to the first ~100 who complete a quick application process. This is to ensure the quality of node operators in our ecosystem.

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