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 was made available through a public sale on Fjord in October 2024.
Initially 18.3% of the supply was made claimable through the oTANGO airdrop 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.
