Allocations and unlocking
Last updated
Last updated
TANGO was launched on Fjord on October 21st 2024.
The first trading liquidity was seeded on Balancer a few days later.
TANGO contract (Arbitrum): 0xC760F9782F8ceA5B06D862574464729537159966 oTANGO contract (Arbitrum): 0x007606064f8A40745336F91a1E4345900143756b
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.
More than 60% of TANGO supply is allocated to the community.
6.7% of the supply will be made available through a public sale on Fjord.
18.3% of the supply will be claimable through the oTANGO airdrop a few weeks after the sale.
32.6% will be 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 will be paired against ETH to seed liquidity on Balancer).
Community 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.
Investors: Pre-seed
$0.3M
Q2 2021
$0.012
$12M
2.5%
after TGE: 6 months / 2 years
Investors: Seed
$3.7M
Q1 2022
$0.045
$45M
8.1%
after TGE: 6 months / 2 years
Investors: Seed extension 1
$0.46M
Q3 2022
$0.045
$45M
1.0%
after TGE: 6 months / 2 years
Investors: Seed extension 2
$0.16M
Q1 2024
$0.045
$45M
0.3%
after TGE: 6 months / 2 years
total
$4.62M
11.9%
