NEWT airdrop accounts for 10% of the total supply, with an initial circulating supply of 21.5%

BlockBeats news, on June 23, the Magic Newton Foundation announced the launch of the NEWT token, with a total fixed supply of 1 billion tokens (1,000,000,000). At launch, the circulating supply will be 215 million tokens (21.5% of the total). 10% of the total tokens will be distributed to early users of the Newton protocol and participants in the growth program. More details regarding the airdrop distribution and eligibility will be announced soon.

Allocation:

The allocation of Newton tokens is as follows, with 60% of the supply allocated to the community category and 40% allocated to the internal category.

Community allocation: refers to the tokens reserved to directly support the growth, technological development, and decentralization of the Newton protocol, achieved through initiatives such as ecosystem funding, network rewards, community rewards, and operational support from the on-chain foundation treasury. The treasury supports the foundation's operational capacity to serve the protocol and its community, covering key functions such as coordinating contributors, supporting governance, and public infrastructure, to promote the prosperity of the ecosystem.

Internal allocation: refers to the tokens allocated to core contributors, early supporters, and Magic Labs, to acknowledge their foundational work in building and supporting the launch of the protocol. These allocations represent key resources committed to the ongoing management and development of the ecosystem.

Token allocation details:

Tokens allocated to the on-chain ecosystem development fund, on-chain ecosystem growth fund, and on-chain foundation treasury will follow a linear unlocking schedule over 48 months, with 20% of the corresponding allocation unlocking immediately upon launch to meet the immediate funding needs for key early development, growth, and operations of the protocol.

Tokens allocated to core contributors, early supporters, and Magic Labs will follow a 36-month vesting period, with an initial lock-up period of 12 months.

Regardless of whether the locked or unallocated tokens are from internal or community allocations, the sale or transfer of these tokens through secondary off-market transactions (OTC) is prohibited until they are fully vested and unlocked.