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.
Token contract (Arbitrum): 0xC760F9782F8ceA5B06D862574464729537159966
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.
18.2% of the supply will be claimable through the oTANGO airdrop a few weeks after the sale.
32.7% 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.
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% |