Tokenomics
The $TIG token is the native utility token of the TIG Ecosystem. It is used for fostering an environment of open innovation and incentivizing participation.
The $TIG token is an ERC-20 token (18 decimals) deployed on Base @ 0x0C03Ce270B4826Ec62e7DD007f0B716068639F7B
Token Distribution
The total supply of $TIG is capped at 131,040,000 TIG. The distribution of tokens is as follows:
-
Algorithms: 15%
-
Breakthroughs: 15%
-
OPoW: 70%
Token Emission Schedule
TIG’s token emission schedule comprises 5 tranches, each with the same total emission of 26,208,000 TIG, but successively doubling in duration (measured in rounds):
Tranche | Rounds | Emissions per block | Emissions per round | Start date | End date |
---|---|---|---|---|---|
1 | 1 to 26 (26) | 100 TIG | 1,008,000 TIG | 24 Nov 2023 | 1 June 2024 |
2 | 27 to 78 (52) | 50 TIG | 504,000 TIG | 1 June 2024 | 31 May 2025* |
3 | 79 to 182 (104) | 25 TIG | 252,000 TIG | 31 May 2025* | 29 May 2027* |
4 | 183 to 390 (208) | 12.5 TIG | 126,000 TIG | 30 May 2027* | 24 May 2031* |
5 | 391 to 806 (416) | 6.25 TIG | 63,000 TIG | 25 May 2031* | 14 May 2039* |
*Approximates
Post tranche 5, rewards are solely based on tokens generated from TIG Commercial license fees.
Token Utility
-
Incentivising Innovators: Innovators are rewarded with $TIG tokens for submitting and optimising algorithms.
-
Incentivising Benchmarkers: Benchmarkers are rewarded with $TIG tokens for benchmarking algorithms.
By utilizing Optimisable Proof of Work, TIG aims to create a synthetic market for algorithms, a dedicated ecosystem and funding model for the development and optimization of algorithms.
In this ecosystem, innovators will develop new algorithms and optimise existing ones; Benchmarkers will identify the most efficient algorithms. Algorithms will be available for licensing, with all license payments flowing into the system to reward contributors.
Sharing in Block Rewards
TIG incentivises contributors through block rewards:
15% of block rewards are allocated evenly across challenges with at least one “pushed” algorithm before distributing pro-rata based on adoption rates.
15% of block rewards are allocated evenly across algorithmic breakthroughs for each challenge. Given the expected relative rarity of algorithmic breakthroughs (compared to code optimisations), this represents a significant reward, reflecting TIG’s emphasis on breakthrough innovations.
The remaining 70% of block rewards are distributed pro-rata amongst Benchmarkers.
To read more about how it works, head over to the Rewards page.