BOC Tokenomics

A Fair Launch: BOC Tokens

Bank Of Cronos allocated BOC to be distributed via our Fair Launch through our Initial Public NFT Offering (IPNO).

After the IPNO closes, those who have minted an NFT are not required to take further action. They will be airdropped their share of tokens based on the NFT they hold. By minting any one of our 3 Tiers of NFTs you are funding the liquidity pool, LP, and subsequently bootstrapping Bank Of Cronos. Half of the IPNO proceeds will be used as the starting treasury balance and the other half for the initial USDC liquidity pool.

Aligning long-term incentives: pBOC Allocations

Bank of CronosDAO will also distribute a number of pBOC to team members and potential investors who can help this protocol become a success in the long-term.

The pBOC token is not the same as a BOC token; there are no underlying USD stablecoins locked in the treasury to underpin the distributed pBOC supply. USDC or CUSD will not automatically be delivered to the treasury on behalf of pBOC holders when they are redeemed. To redeem pBOC, holders will be responsible for delivering 1 USDC or CUSD to the treasury themselves.

A maximum of 300,000 BOC tokens will be allocated to the Initial Public NFT Offering participants. To ensure that IPNO investors are not diluted by pBOC allocations, there will be a maximum supply rate to cap the percentage of total supply that can be redeemed by pBOC holders.

Each pBOC vester group, for example the Bank Of Cronos founding team, will be assigned a maximum supply rate cap. For example, the Bank of Cronos founding team will have a supply rate cap of 10% meaning at initial launch they will only be allowed to redeem ~30,000 pBOC (assuming~ 300,000 BOC airdrop + initial liquidity pool) so that their supply redeemed is at most 10% of total BOC supply.

Cumulatively, all of the stakeholder groups (founding team+ investors) can never own more than 16% of total BOC supply.

• Founding Group: 10m pBOC, and 10% supply share cap

• Investors: 2m pBOC, and 2% supply share cap

• OlympusDAO: 4m pBOC, and 4% supply share

• Bank of Cronos DAO community: 10m pBOC and 10% supply share cap

As always, the “Exercise pBOC” contract and address are available to the public on the Cronos chain explorer with the 5 above “Set Terms” transaction specifications.