Beyond Protocol — The Time is Now

A fast, flexible, secure, and unified IoT framework will allow the machines we rely on to serve the greater good like never before. In the previous two articles, we discussed how. In this final installment of our introductory series, we announce what’s next — the TGE, and beyond.

Let’s get right to business.

We’re pleased to announce that the wait for our much-anticipated TGE will soon be over. On October 4th, 2021 our native token (BP) will be available for public trading!

In anticipation of this key event in the history of Beyond Protocol, we have very carefully considered how this launch should be handled — specifically with respect to tokenomics.

In the past, too many projects have made too much supply available for trade on day one. Anyone who’s traded crypto for any length of time knows the drill; those who got in for lower prices during seed and private sale rounds “dump on” retail buyers at TGE. At best, it goes something like this:

  • token launches, high volume trading ensues, buyers and sellers battle
  • after a short time, sell pressure outweighs buy pressure, price bleeds out
  • lengthy consolidation comes next, well below listing price
  • the project delivers on what was promised, and token price gradually recovers

In this scenario, a project can eventually succeed in their main objectives, while still hurting many investors along the way. In considering our tokenomics, we absolutely wanted to avoid this. There’s naturally an air of hope and excitement with a promising new project launch, but if the timing of token supply release is not carefully thought out relative to fundamentally-driven token demand, volatile early price action will leave many “holding the bag” as it were, at a significant loss.

This does not feel good for anyone. As a project with lofty goals, and visions of changing the world for the better, it was very important to us that we take care of our backers, both at TGE and well into the future.

Here’s how we plan to do it.

Beyond Tokenomics

Complete token supply breakdown, by pool.

Let’s start with the big day, our October 4th TGE.

The initial circulating supply on launch day will be about 1.5% of the total supply. This 1.5% is controlled exclusively by Beyond Protocol insiders — specifically, the following pools (the final three listed in the chart above):

  • Core Team
  • Employee Pool
  • Ecosystem Growth & Operations

This smaller fraction of supply will be all that’s available for the first thirty days of trading. And being exclusively from the above pools — controlled by those who are most personally invested in Beyond Protocol’s long-term success — means our community is protected from the harsh, largely VC-fueled price dumps seen so often with other ICOs on day one.

In fact, Beyond Protocol did not come to terms with certain Tier 1 investors on token allocations in the past few months, because we refused to concede to their demands on vesting.

This is not how most projects approach tokenomics on launch day.

This is how you conduct business when you’re fully confident in your project, and you care about your community.

So what about the rest of the supply? Our mindset here is simple — token supply should scale up in lockstep with fundamental value, driven by clear use-cases. With this in mind, we will be increasing the available circulating supply very gradually over the next several years:

  • on Day 30, circulating supply will increase from 1.5% to 3.3%, and will continue to increase incrementally every thirty days until reaching just under 30% by the time of our mainnet launch (Q2 of 2022)
  • by the one-year anniversary of TGE, circulating supply will be 37%
  • after one more year, 67% — eventually culminating in 100% of supply being available at the five-year mark
Vesting schedule, displayed bi-annually.
Complete monthly vesting schedule.

The decision to structure supply release in this way was made after thoughtful consultation with multiple exchanges, investors, and advisors, and will ensure adequate token supply is available to the market as Beyond Protocol continues to develop novel use-cases and announce new partnerships.

We anticipate these developments will continue to produce substantial demand over time.

For the near-term — since many of the catalysts that will drive demand lie ahead — we decided to officially list on one exchange. As we draw closer to mainnet, we will strategically list on multiple top exchanges as we unveil more partnerships and use-cases.

Although we had the option to list on one of the top exchanges by volume from day one— a Top 3 Centralized Exchange is an investor — we’ve opted to wait a little longer. We believe there would not be enough initial circulating supply to service demand, boxing out prospective investors from joining Beyond Protocol. This decision was also arrived at after careful consideration and consultation with exchanges, advisors, and backers.

So, where will you be able to buy our token on October 4th?

Learn more about where, when, and how in this article.

The Road Ahead

The journey from Beyond Protocol’s early days up until now has been absolutely incredible. In 2018, we were just a couple of tech guys with a problem to solve, and an idea.

In 2021 — after much hard work and perseverance— we’re launching a paradigm-shifting technology, onboarding an all-star cast of advisors and celebrity partners, and aggressively pursuing new use-cases and partnerships as we forge ahead towards mainnet.

September 30th, 2021 will always be a landmark date in the history of Beyond Protocol, but it truly is just the beginning.

With security as a given, we can open up our devices for collaboration. Using them like threads of yarn, the dreamers among us can weave together inventions we would have never thought to conceive.

- Jonathan Manzi

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