Rollout starts in Q2 2023.
The Tibles token launch may look a bit different than what people are used to. Importantly:
- There will be no ICO. The token will not be listed on an exchange until it is majority-owned by the community.
- The token will start off-chain, migrating on-chain before a future listing.
Our main objective is to distribute a large number of tokens to the community and start building a token-based economy.
We’ve developed three broad phases for the token launch.
Phase 1: Airdrop & Rewards
First we will distribute a large amount of tokens to collectors via the initial airdrop and purchase rewards. Our objective is for the community to own at least 1/3 of the supply in the first three months.
Phase 2: Expanded Utility
Over the following months, we will release new ways for people to use tokens in Tibles apps. During this phase we will be gathering feedback from token holders and developing capabilities for managing the token economy.
Phase 3: Listing
Once at least 50% of the token supply is held by the community and it is being used in the ecosystem, we will migrate the token to on-chain and make it available for sale. Having a clear market value will unlock more uses for the token as a currency and staking mechanism.