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

The initial supply of RING is 2 billion, the maximum supply(Cap) is 10 billion. Currently, Darwinia Mainnet and its transaction haven’t launched yet. The initial supply is recorded in the Darwinia Genesis File. ERC20 RING and TRC20 RING are tokens on other public blockchain derived from Native RING. Current circulating RING (including ERC20/TRC20 derived tokens) is around 1.6 billion.

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

By Network

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:

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.