Darwinia Native Token: RING

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Native Tokens

The native token for the Darwinia Network is RING, RING can be used as gas for transactions. Gas include transaction fees, contract execution fees, network bandwidth charges, storage fees, and more.

Token Specification

  • Name: Darwinia Network Native Token
  • Symbol: RING
  • Total Supply: Initial circulation (2 Billion),hard cap (10 Billion) in around 40 years
  • Inflation Model: New RINGs are minted and distributed through the staking system and treasure as block producing rewards at a variable rate, see Inflation Model section below.

Network:

  • Ethereum
    - Spec: ERC20
    - Precision: 18
    - Smart Contract Address(Ethereum): 0x9469d013805bffb7d3debe5e7839237e535ec483
  • Tron
    - Spec: TRC20
    - Precision: 18
    - Smart Contract Address(Tron): TL175uyihLqQD656aFx3uhHYe1tyGkmXaW
  • Darwinia Mainnet
    - Spec: Native
    - Precision: 9
    - Smart Contract Address: /

Token Allocation

  • Financing: 30%(first round 10%, evaluation $10 M, 20% remaining to be determined)
  • Foundation: 20%(2 years vesting period starts when mainnet launch)
  • Team: 15%(1 year vesting period starts after 1 year since mainnet lanuch)
  • Business Development and Marketing: 15%
  • Community: 20%(including airdrop)

Circulation

Overview

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By Network

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Inflation Model

After the Darwinia Network mainnet goes live, the total cap of the block reward (MAX_BLOCK_REWARD_YEAR) is adjusted once a year. The block reward of year N is 1 - (99 /100)^sqrt(N) of total remaining issuable.

Total remaining issuable RING = HARD_CAP - CURRENT_SUPPLY
Supply in the next year = supply in the previous year + total actual reward in the year

The total number of HARD_CAP for RING is 10 billion.

According to the annual block reward limit and the block interval (in seconds), you can calculate the block reward toplimit (MAX_BLOCK_REWARD) for each block of the year.

Block Reward Limit for Each Block = Total Reward Limit for the Year × Block Interval Time /Total Number of Seconds per Year ( 365 * 24 * 3600)

The following table shows RING’s Annual development statistics:

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Appendix:

Appendix 1: Algorithm of Bounding RING for KTON

Users can lock a certain amount of RING for a predefined period of time in exchange for KTON in return. Basically bound 10,000 RING for 12 months to get 1 KTON.

1–36 variable integer months(30days) as the locking period are allowed. See the following table of rewarded KTON amount according to locked period.

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Appendix 2: Locked RING (ERC-20)

2021.2020.06.22–2021.05.22 Unlocking Plan(2020–05–22data)

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Contract
https://cn.etherscan.com/token/0x9469d013805bffb7d3debe5e7839237e535ec483?a=0x649fdf6ee483a96e020b889571e93700fbd82d88

Appendix 3: Locked RING (TRC-20)

2021.2020.06.22–2021.05.22 Unlocking Plan(2020–05–22data)

DateCumulative unlockable quantity before this time2020–06–22128,1792020–10–22132,479

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Appendix 4: WhitePaper

Follow Us

As an open cross-chain bridge protocol based on Substrate, Darwinia focuses on the construction of future Internet of Tokens. TG: http://t.me/DarwiniaNetwork

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