# Allocations and unlocking

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TANGO was launched on Fjord on October 21st 2024.

An official liquidity pool was seeded on [Balancer](https://balancer.fi/pools/arbitrum/v2/0x1ed1e6fa76e3dd9ea68d1fd8c4b8626ea5648dfa0002000000000000000005cb) a few days later.
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TANGO contract (Arbitrum): [0xC760F9782F8ceA5B06D862574464729537159966](https://arbiscan.io/address/0xc760f9782f8cea5b06d862574464729537159966)\
oTANGO contract (Arbitrum): [0x007606064f8A40745336F91a1E4345900143756b](https://arbiscan.io/address/0x007606064f8A40745336F91a1E4345900143756b)
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TANGO is Contango’s utility token, with a total supply of 1,000,000,000 and represents the centerpiece of the protocol’s tokenomics, aka TANGOnomics.

<figure><img src="https://3340088086-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F8rJ5VtVb4DsRxSyBXhOT%2Fuploads%2FRiszrVQXoHVvLKPfI9SL%2FToken%20distribution.png?alt=media&#x26;token=6bda1258-7809-4c1c-b578-10399ad3e87e" alt=""><figcaption></figcaption></figure>

More than 60% of TANGO supply is allocated to the Community.

6.7% of the supply was made available through a [public sale on Fjord](https://medium.com/contango-xyz/all-you-need-to-know-about-the-tango-launch-db4a689191a5) in October 2024.

Initially 18.3% of the supply was made claimable through the [oTANGO airdrop](https://medium.com/contango-xyz/the-otango-airdrop-0c94b2822498) a few weeks after the sale. Since some users didn't end up claiming their share, around 3% of the supply went back to the treasury, so the final supply allocation for oTANGO is 15.3%.

35.6% is allocated to ecosystem development. Here’s a few examples:

* Trading incentives (e.g. 2% of the supply will be allocated each year for 3 years to reward traders).
* Protocol-owned liquidity on dexes (e.g. initially, around $800,000 worth of TANGO were paired against ETH to seed liquidity on Balancer).
* Community or developer grants.

3% will be allocated to AlphaDAO, which helped kickstart Contango in 2021.

The only tokens that have a cliff and vesting are those allocated to:

* the team (1 year cliff, 2.5 years vesting)
* investors (6 months cliff, 2 years vesting)
* AlphaDAO (1 year cliff, 2.5 years vesting).

The full unlocking schedule is presented in the chart below.

<figure><img src="https://3340088086-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F8rJ5VtVb4DsRxSyBXhOT%2Fuploads%2FNtmmP3fhD2j0ZJv7LpdJ%2FUnlocking%20(1).png?alt=media&#x26;token=ff62feb2-68d8-4c5d-ac9c-6aaffd4a945a" alt=""><figcaption></figcaption></figure>

### Past private raises

<table><thead><tr><th width="250">Round</th><th width="143">Amount raised</th><th>Date</th><th>Price</th><th width="115">Valuation</th><th width="118">% of supply</th><th width="302">Cliff / Vesting</th></tr></thead><tbody><tr><td>Investors: Pre-seed</td><td>$0.3M</td><td>Q2 2021</td><td>$0.012</td><td>$12M</td><td>2.5%</td><td>after TGE: 6 months / 2 years</td></tr><tr><td>Investors: Seed</td><td>$3.7M</td><td>Q1 2022</td><td>$0.045</td><td>$45M</td><td>8.1%</td><td>after TGE: 6 months / 2 years</td></tr><tr><td>Investors: Seed extension 1</td><td>$0.46M</td><td>Q3 2022</td><td>$0.045</td><td>$45M</td><td>1.0%</td><td>after TGE: 6 months / 2 years</td></tr><tr><td>Investors: Seed extension 2</td><td>$0.16M</td><td>Q1 2024</td><td>$0.045</td><td>$45M</td><td>0.3%</td><td>after TGE: 6 months / 2 years</td></tr><tr><td>total</td><td>$4.62M</td><td></td><td></td><td></td><td>11.9%</td><td></td></tr></tbody></table>

### Public raise

<table><thead><tr><th width="250">Round</th><th width="143">Amount raised</th><th>Date</th><th>Price</th><th width="115">Valuation</th><th width="118">% of supply</th><th width="302">Cliff / Vesting</th></tr></thead><tbody><tr><td>Fjord fixed-price sale</td><td>$3M</td><td>Q4 2024</td><td>$0.045</td><td>$45M</td><td>6.7%</td><td>none</td></tr></tbody></table>