Written by: Asher (@Asher_0210), Planet Daily
Yesterday, Boundless, which raised $54 million, officially announced its token economic model, with 6% allocated for community sales and airdrops. Additionally, it was recently announced that community token sales will begin on August 25 at Kaito Capital Launchpad, and community members who participated in the mainnet beta test and achieved bronze, silver, gold, or diamond levels will be eligible for prioritized access to the sale. Specific sale details will be announced by Kaito.
Next, Odaily Planet Daily will take you to delve into the highly anticipated Boundless by the "haircut group", including project overview, token model, community sales, and more.
Project overview
Boundless can be defined as "the native modular execution layer of Ethereum", a positioning that implies a paradigm shift in blockchain architecture. Just as cloud computing disaggregates data centers into different layers, Boundless is breaking down ZK proofs into pluggable components:
ZK mining market: Drawing on the competitive mechanism of Bitcoin PoW, but replacing proof generation with hash collision to eliminate energy waste;
Verification as a service: Just like AWS Lambda abstracts server management, developers do not need to build their own verification nodes;
Cross-chain execution layer: Similar to how HTTP protocol unifies internet communication, Boundless becomes a ZK co-processor shared by multiple chains.
Currently, more than 30 teams plan to build and deploy applications on Boundless.
Regarding financing, Boundless is a project under RISC Zero, which has raised $54 million to date.
On July 16, Boundless announced on the X platform that the mainnet Beta version is now live, and completing related tasks will grant access to the Boundless token sale whitelist and additional token rewards. Tasks are divided into four levels: bronze, silver, gold, and diamond.
Token economic model: A total of 6% is allocated to community sales and airdrops, with the airdrop portion unlocking 100% at TGE.
According to official documents, Boundless will soon launch its native token ZKC, with an initial total supply of 1 billion tokens, allocated as follows:
Ecosystem growth: 49% of the total supply. Of this, 31% will be for the ecosystem fund, held by the Boundless Foundation. 25% of this portion will be locked for 1 year, and the remaining 75% will unlock in equal monthly installments over the next 24 months until completion at the end of year 3;
Strategic growth fund: 18% of the total supply, used for enterprise integration, business development, and institutional-level prover access, with this portion of tokens gradually unlocking over 12 months;
Core team and early contributors: 23.5% of the total supply. Of this, 20% of the tokens are allocated to the core development team and early contributors who brought Boundless from concept to mainnet. An additional 3.5% is allocated to RISC Zero, the company that initially incubated Boundless, with the unlocking rules for this portion consistent with the ecosystem fund;
Community token sales and airdrops: 6% of the total supply, rewards include early contributors such as provers and Kaito Yappers. Community sale tokens will unlock 50% at TGE and the remaining 50% will unlock 6 months later, while airdrop tokens will unlock 100% at TGE;
Investors: 21.5% of the total supply, with 25% locked for 1 year, and the remaining 75% will unlock in equal monthly installments over the next 24 months until completion at the end of year 3.
ZKC token model
Additionally, after TGE, the token's inflation rate in the first year will be 7%. After that, the annual inflation rate will gradually decrease to 3% by the eighth year, maintaining at 3% thereafter.
According to feedback from multiple community members, the specific allocation of the 6% for community sales and airdrops is as follows:
Kaito leaderboard: 0.25%;
S1 incentive provers: 0.5%;
The remaining 5.25% will be used for token sales, S2 incentive provers, testnet/mainnet provers, Discord roles, and community participation, etc. (the specific allocation ratio for this 5.25% is currently unclear).
Community token sales will begin on August 25 at Kaito Capital Launchpad
Currently, the tasks for bronze, silver, gold, and diamond levels for the Boundless mainnet Beta version have concluded, and participants can check their account rankings and other information (link: https://signal.beboundless.xyz/story).
Mainnet Beta diamond address diagram
Since the community token sale will begin on August 25 at Kaito Capital Launchpad, eligible participants must authenticate their identity on the Kaito platform.
Requires binding X account + KYC verification, multiple accounts "suffered losses"
After Boundless announced the token model yesterday, while the "haircut group" expressed slight dissatisfaction with the low proportion of airdropped tokens, there remains great anticipation for such a high-funding and highly regarded project. However, after Boundless announced that it would conduct token sales on the Kaito platform today, the community response showed a noticeable negative tone.
There are two main reasons. First, the Kaito platform requires users to bind their X accounts, which greatly troubles those who "hold dozens or even hundreds of gold or diamond level multiple accounts." Second, accounts participating in the token sale on Kaito need to undergo KYC verification, but KYC is not supported in many countries and regions, and Chinese KYC identities cannot be used, leaving the majority of community members who were looking forward to participating disappointed and dissatisfied.
Detailed specifics regarding the token sale can currently only await further announcements from Kaito.
