Rejuve.AI recently launched its official utility token, RJV, as an important first milestone in building the decentralized AI-driven longevity research network.
Recently, we have been receiving lots of questions about Tokenomics, including the circulation of “Token Unlock schedules” making suggestions contrary to our vesting schedule/plans. In response, we are taking the time to do this deep dive into what the allocations are and how they are used to achieve the mission and goals of Rejuve.AI.
In order to answer these questions and offer maximum transparency and understanding, this blog will deep-dive into the different allocation categories in our Tokenomics schedule to explain how and where these tokens are planned to be used.
1. Data Rewards Pool
The Data Rewards Pool allocation is one of the most important for the Rejuve Network ecosystem, as these tokens are those set aside to reward Data Contributors in the Longevity App. Other uses for this allocation include Beta Tester rewards, in-app promotions, and all rewards for contributors of data to the Longevity App and/or the AI framework via the GCN by the community. The building of this comprehensive database along with a network to create and contribute AI models is core to Rejuve’s mission to crowdsource the scientific community (all the way to the citizen science level) to achieve breakthroughs in the understanding of human aging.
We allocated a high percentage of the total supply to ensure that these vital contributions for building our database and AI models are always available. It is important to note here that while this pool “unlocks” after 1 month, this is not a guarantee that tokens will be moved from here!! As explained above, this is a very important allocation for our community that is reserved for a very specific purpose, which is why these “unlocked” tokens do not immediately enter circulation. No tokens from this allocation are distributed or put into circulation until Beta Tester rewards and/or In-App Rewards go live.
2. Liquidity Rewards + AGIX Holders’ Airdrop
The second community-focused pool is Liquidity Rewards (which includes the AGIX Holder’s Airdrop). As implied by the name, this allocation is reserved for providing liquidity of the RJV token, staking rewards, and of course the awaited AGIX holders’ loyalty airdrop, as promised in the SingularityNET Phase II proposal, to allocate 5% of incubating Spin-Off project tokens to the community. While none of these tokens were immediately put into circulation at the moment of TGE, they did begin to disperse shortly after, for example SingularityDAO unbonded staking for RJV opened immediately. As with the Data Rewards Pool, there is no prescribed schedule of how often these tokens are distributed, and is solely at the discretion of what is needed to provide for the aforementioned purposes.
3. Launchpads & TGE Distribution
The next category in our token allocations is TGE & Distribution, which include all three Launchpads (SingularityDAO, Dao Maker, and Step), Seed & KOL allocations, and Public Distribution. Tokens on all launchpads are subject to the same vesting schedule, which is a 3 month cliff followed by 21 months vesting with daily claiming. Claiming of Seed & KOL allocations will be claimed on the SingularityDAO platform. Public Distribution was released 100% at TGE in order to provide initial liquidity.
4. Strategic Partners
Strategic Partners refers to key players that help incubate & support the project in its earliest stages. These consist of SingularityNET, who incubated the Rejuve project since 2018, and SingularityDAO, supporting post-launch with DeFi, token management, and other important organizational functions. These Strategic Partners will also support in marketing and partnerships. Tokens in this allocation are subject to a 3 month cliff and vested linearly by month for 21 months thereafter, and are used at the discretion of these entities.
5. Team & Advisors
Similar to the above, the Team & Advisors allocation is reserved for key team members who helped make the Rejuve project possible and continue to contribute to its success, and also some reserved for future Team members. These tokens are subject to the same vesting schedule of a 3 month cliff and 21 months of linear vesting thereafter.
We identified that there were some inaccuracies in published sources of “Token Unlock Schedules”, incorrectly purporting that these allocations had been “unlocked” or going to be unlocked earlier than the Launchpad allocations. We heavily stress that none of these tokens have been released and are following the established vesting schedule! This means that no Team member has access to the tokens in this allocation until the three month cliff has elapsed.
6. Ecosystem & Network Adoption Fund
Finally, the last allocation is Ecosystem & Network Adoption, which serves as the general reserve for operational functions such as marketing, partnership building, talent & resource acquisition, etc. At TGE, 4.85% of this allocation was unlocked for use at TGE to support early operations (this does NOT mean that this amount was liquidated, only that it was made available for use). The remainder of these tokens are subject to a 1 month cliff, with 35 months of linear monthly vesting. As with all other allocations, unlocking/making available for use does NOT automatically mean circulated. Reflective of its long release schedule, we aim to preserve these as much as possible and make the wisest choices to achieve our goals and deliver on our promises to our community. As we progress in decentralization, it is likely that some of these decisions may even be amenable to vote.
Closing Remarks
We hope that this article has cleared up any confusion or missed points on Tokenomics, and increased transparency on these matters. We also remind you that we are enthusiastic about building the Web3 economy and promoting decentralization, including expanding the utility of the RJV token and implementing more ways for the community to participate in initiatives and governance of the Rejuve Network. Stay tuned for a special Video Update from CEO Jasmine Smith (aka ZollieDollie) coming soon!