# Token Distribution

## TL;DR <a href="#tldr" id="tldr"></a>

* **XD,** the LENX Protocol Token has been **curated** on [Fjord Foundry on 1/7/2024](https://app.v2.fjordfoundry.com/pools/0xE47bb08ff23bED7e5c67739c2D420b40188c6961).
* Frax Partnership / Seed valuation was at **$10,000,000 in February 2022.**
* **64% of the XD total supply** is allocated to LENX community members, investors and team.
* **XD** is available on the following pool at V1:
  * XD-WETH UniV3 LP

## Summary <a href="#tldr" id="tldr"></a>

| Summary                             | Amounts     |
| ----------------------------------- | ----------- |
| Seed Valuation FDV (Frax Valuation) | $10,000,000 |
| Fully Dilluted Token Supply         | 100,000,000 |
| Protocol Incentives                 | 36%         |
| Tradeable Tokens at Genesis         | 25%         |
| Team                                | 15%         |
| Private Investment                  | 7.5%        |
| Treasury                            | 5%          |
| Protocol Owned Liquidity (POL)      | 4.52%       |
| Advisors                            | 3%          |
| Strategic Round                     | 2.98%       |
| Airdrop                             | 1%          |
| **Total**                           | **100%**    |

## Detailed Allocations Summary <a href="#tldr" id="tldr"></a>

<table data-full-width="true"><thead><tr><th>Token Holders</th><th>Total Number</th><th>Token %</th><th>Comments</th></tr></thead><tbody><tr><td>Protocol Incentives</td><td>36,000,000</td><td>36.00%</td><td>LENX Flywheel</td></tr><tr><td>Public Launch - LBP</td><td>25,000,000</td><td>25.00%</td><td>LENX is community-driven. The LBP provides a transparent and fair distribution for the community.</td></tr><tr><td>Team</td><td>15,000,000</td><td>15.00%</td><td>Team allocation. Vested over 24 months</td></tr><tr><td>Project Treasury</td><td>5,000,000</td><td>5.00%</td><td>Team governed pool of XD.</td></tr><tr><td>Private Capital</td><td>5,000,000</td><td>5.00%</td><td>Lyrik Ventures</td></tr><tr><td>Initial Liquidity Pool</td><td>4,520,000</td><td>4.52%</td><td>xy=k pool; XD-WETH LP.</td></tr><tr><td>Advisors</td><td>3,000,000</td><td>3.00%</td><td>Comparable Frax 3%. Vested over 24 months</td></tr><tr><td>Strategic Round</td><td>2,980,000</td><td>2.98%</td><td>AlfaDAO, GHouse, and Angels</td></tr><tr><td>Frax Finance</td><td>2,500,000</td><td>2.50%</td><td><a href="https://snapshot.org/#/frax.eth/proposal/0xc55ae4a5f0a91dfb22dae3146add21284c5533201e054dca212f19df35ee01e2">Snapshot</a></td></tr><tr><td>Airdrop Fund</td><td>1,000,000</td><td>1.00%</td><td>Airdrop targeting xBTC liquidity providers</td></tr><tr><td><mark style="color:blue;"><strong>Total</strong></mark></td><td><mark style="color:blue;"><strong>100,000,000</strong></mark></td><td><mark style="color:blue;"><strong>100.00%</strong></mark></td><td>Total</td></tr></tbody></table>

####

{% hint style="info" %}
**LENX Flywheel**

The flywheel effect involving XD and veXD tokens within the LENX Bitcoin Liquidity Protocol creates a self-reinforcing cycle that boosts liquidity and ecosystem growth. Entities buy XD tokens to participate in governance by converting these into veXD, allowing them to vote for increased reward allocations (gauge allocations) to liquidity pools involving their native chains and Bitcoin. This incentivizes more liquidity provision, enhancing the utility and demand for XD tokens, and encourages further participation in governance and liquidity provisioning. As the cycle continues, it drives sustained growth and cross-chain collaboration, aligning diverse blockchain ecosystems with the LENX Protocol's objectives of enhanced liquidity and decentralized finance expansion
{% endhint %}

## Comparables <a href="#tldr" id="tldr"></a>

We follow a token distribution similar to Uniswap, but instead of a large initial airdrop (net cost to the protocol), our tokens are slowly released to the public via various routes of incentives and partnerships.

| Protocol  | Team + Advisors | Private Capital | Community/Future protocol Usage | LBP | Liquidity | Others | Total    | Details                                                                                |
| --------- | --------------- | --------------- | ------------------------------- | --- | --------- | ------ | -------- | -------------------------------------------------------------------------------------- |
| Uniswap   | 21.96%          | 18.04%          | 60%                             |     |           |        | 100.000% |                                                                                        |
| Compound  | 26%             | 24%             | 42.30%                          |     |           | 7.73%  | 100.000% |                                                                                        |
| Synthetix | 20%             |                 | 12%                             | 60% |           | 8%     | 100.000% |                                                                                        |
| Balancer  | 35.30%          | 35.30%          | 14%                             | 14% | 1.20%     |        | 100.000% | Pre emissions, substantial dilution expected overtime from liquidity mining incentives |
| Curve     | 3%              | 35%             | 5%                              |     | 57%       |        | 100.000% | Employees have 2 year vest. Private capital receives 5% premining Curve.               |