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Native Tokens

The native token for the Darwinia Network is RING, RING can be used as gas for transactions. Gas include transaction fees, contract execution fees, network bandwidth charges, storage fees, and more.

Token Specification

  • Name: Darwinia Network Native Token
  • Symbol: RING
  • Network:
    • Ethereum
      • Spec: ERC20
      • Precision: 18
      • Smart Contract Address（Ethereum): 0x9469d013805bffb7d3debe5e7839237e535ec483
    • Tron
      • Spec: TRC20
      • Precision: 18
      • Smart Contract Address（Tron): TL175uyihLqQD656aFx3uhHYe1tyGkmXaW
    • Darwinia Mainnet
      • Spec: Native
      • Precision: 9
      • Smart Contract Address: /
  • Total Supply: Initial circulation (2 Billion)，hard cap (10 Billion) in around 40 years

The initial supply of RING is 2 billion, the maximum supply(Cap) is 10 billion. Currently, Darwinia Mainnet and its transaction haven’t launched yet. The initial supply is recorded in the Darwinia Genesis File. ERC20 RING and TRC20 RING are tokens on other public blockchain derived from Native RING. Current circulating RING (including ERC20/TRC20 derived tokens) is around 1.6 billion.

  • Inflation Model: New RINGs are minted and distributed through the staking system and treasure as block producing rewards at a variable rate, see Inflation Model section below.

Token Allocation

  • Financing: 30%（first round 10%, evaluation $10M, 20% remaining to be determined）
  • Foundation: 20%（5 years vesting period starts when mainnet launch）
  • Team: 15%（1 year vesting period starts after 1 year since mainnet lanuch）
  • Business Development and Marketing: 15%
  • Community: 20%（including airdrop）

Circulation

Overview

TypeRING QuantityProportion
Total Supply2000M100%
In Circulation_Individuals29.2M1.83%
In Circulation_Institutions263.69M16.58%
In Circulation_Staking Bound198.77M12.50%
Long Term Lock1508.34M69.09%

By Network

TypeRING Quantity
ETH Total Supply1189.56M
In Circulation_Individuals21.5M
In Circulation_Institutions263.69M
In Circulation_Staking Bound195.30M
Long Term Lock709.07M
TypeRING Quantity
TRON Total Supply401M
In Circulation_Total7.7M
In Circulation_Staking Bound3.47M
Long Term Lock389.83M
TypeRING Quantity
Darwinia Mainnet Total Supply400M
In Circulation0M
Long Term Lock400M

Calculation:

CirculatingSupply = TotalSupply - Foundation - Gringotts - SwapBridge

RING Supply API: https://api.darwinia.network/supply/ring

Contract

  • TotalSupply

    • ERC20: 0x9469d013805bffb7d3debe5e7839237e535ec483
    • TRC20: TL175uyihLqQD656aFx3uhHYe1tyGkmXaW

  • Foundation

    • ERC20: 0x4710573b853fdd3561cb4f60ec9394f0155d5105
    • TRC20: TDWzV6W1L1uRcJzgg2uKa992nAReuDojfQ

  • Gringotts

    • ERC20: 0x649fdf6ee483a96e020b889571e93700fbd82d88
    • TRC20: TTW2Vpr9TCu6gxGZ1yjwqy7R79hEH8iscC

  • SwapBridge

    • ERC20: 0x7f23e4a473db3d11d11b43d90b34f8a778753e34
    • TRC20: TSu1fQKFkTv95U312R6E94RMdixsupBZDS

Inflation Model

After the Darwinia Network mainnet goes live, the total cap of the block reward (MAX_BLOCK_REWARD_YEAR) is adjusted once a year. The block reward of year N is 1 - (99 /100)^sqrt(N) of total remaining issuable.

Total remaining issuable RING = HARD_CAP - CURRENT_SUPPLY
Supply in the next year = supply in the previous year + total actual reward in the year

The total number of HARD_CAP for RING is 10 billion.

According to the annual block reward limit and the block interval (in seconds), you can calculate the block reward toplimit (MAX_BLOCK_REWARD) for each block of the year.

Block Reward Limit for Each Block = Total Reward Limit for the Year × Block Interval Time /Total Number of Seconds per Year ( 365 * 24 * 3600)

The following table shows RING’s Annual development statistics:

Supply Table

Appendix:

Appendix 1: KTON

KTON is essentially a derivative token of RING，which encourages long-term lock and commitment. RING staking participants can lock RING for 3–36 months and get KTON as rewards, compensating for the liquidity loss.

The initial supply of KTON is 0, and it can only be obtained by locking RING. There is no other distribution channel. KTON has no impact on the function of the Native Token RING.

  • KTON Specification
    • Name：Darwinia Commitment Token
    • Symbol：KTON
    • Precision：18
    • Ethereum Contract：0x9f284e1337a815fe77d2ff4ae46544645b20c5ff
    • TRON Contract：TL175uyihLqQD656aFx3uhHYe1tyGkmXaW

KTON Supply API：https://api.darwinia.network/supply/kton

Appendix 2: Algorithm of Binding RING for KTON

Users can lock a certain amount of RING for a predefined period of time in exchange for KTON in return. Basically bind 10,000 RING for 12 months to get 1 KTON.

1-36 variable integer months(30days) as the locking period are allowed. See the following table of rewarded KTON amount according to locked period.

MonthKTONMonthKTONMonthKTON
10.076170.5634151.2842
20.152280.6446181.5736
30.233590.7309211.8832
40.3096100.8223363.6446
50.3959110.9086
60.4771121

Appendix 3: Locked RING (ERC-20)

2021.2020.06.22-2021.05.22 Unlocking Plan（2020-05-22data）

DateCumulative unlockable quantity before this timeDateCumulative unlockable quantity before this time
2020-06-2215,963,3002020-10-2241,240,661
2020-07-2227,963,3002020-12-2241,260,661
2020-08-2229,040,6612021-02-2241,266,661
2020-09-2230,040,6612021-05-2241,270,761

Contract
https://cn.etherscan.com/token/0x9469d013805bffb7d3debe5e7839237e535ec483?a=0x649fdf6ee483a96e020b889571e93700fbd82d88

Appendix 4: Locked RING (TRC-20)

2021.2020.06.22-2021.05.22 Unlocking Plan(2020-05-22data）

DateCumulative unlockable quantity before this time
2020-06-22128,179
2020-10-22132,479

Appendix 5: WhitePaper

https://evolution.l2me.com/darwinia/Darwinia_Genepaper_EN_200430.pdf

Last updated on 2020-8-21
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