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  • Past private raises
  • Public raise
  1. TANGO

Allocations and unlocking

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Last updated 3 months ago

TANGO was launched on Fjord on October 21st 2024.

An official liquidity pool was seeded on a few days later.

TANGO contract (Arbitrum): oTANGO contract (Arbitrum):

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.

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.

Past private raises

Round
Amount raised
Date
Price
Valuation
% of supply
Cliff / Vesting

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%

Public raise

Round
Amount raised
Date
Price
Valuation
% of supply
Cliff / Vesting

Fjord fixed-price sale

$3M

Q4 2024

$0.045

$45M

6.7%

none

6.7% of the supply was made available through a in October 2024.

Initially 18.3% of the supply was made claimable through the 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%.

public sale on Fjord
oTANGO airdrop
Balancer
0xC760F9782F8ceA5B06D862574464729537159966
0x007606064f8A40745336F91a1E4345900143756b