$MYRD is an ERC-20 functional multi-utility token, which will be used as DAO token in Sacra Universe.
Utility
- Governance: Serving as the governance token, $MYRD empowers holders to participate in voting on various decisions impacting the Sacra Universe.
- $SACRA Minting: Holders can utilize $MYRD for minting $SACRA at a one-to-one ratio across any blockchain. This process results in the burning of $MYRD, aligning with a deflationary mechanism.
- Passive Income through veMYRD: By locking $MYRD-USDC LP into a voting escrow NFT (veMYRD) for durations ranging from 1 week to 4 years, users can earn a % of all in-game fee revenues in form of USDC. This income is derived from a share of all in-game transaction fees, further incentivizing long-term holding and participation in the ecosystem.
Emission & Distribution
The emission model for $MYRD is designed to be deflationary, with a capped supply of 100 000 000 $MYRD that will be initially distributed during funding rounds. This approach underscores the project's commitment to a sustainable economic framework.
Distribution
There will be premint of 100 000 000 $MYRD, which will be distributed next way:
Allocation | % of first emission | Unlock Schedule |
Treasury | 50 | 1 year cliff, 24 months vesting month-on-month |
Marketing/Ambassadors | 5 | no cliff, 24 months linear vesting |
Initial Liquidity | 10 | Immediately unlocked |
Fundraising (Private) | 15 | 10% TGE, 6 months cliff, 12 months vesting |
Team | 20 | 18 months cliff, 18 months vesting |
Circulating Supply
The initial premint of $MYRD corresponds to the total capped emission, establishing the full circulating supply from the outset. Emission events are strategically timed to coincide with funding rounds, ensuring a controlled release of tokens into the market. Additionally, the $MYRD token undergoes burning when used for $SACRA minting, reinforcing the token's deflationary model and aligning incentives between the game's success and token valuation.