📖Disclosure

As you can see in the tokenomics section, the LUM token was fairlaunched and fully distributed to the community.

The Magic LUM token is distributed via the booster and is capped at 1 Million tokens. The MagicSea team received 20% (200k MLUM Token) from the total Magic LUM supply. These 20% include team allocation as well as operations.

These token are locked in the Magic LUM Staking Pool in different lock positions: 25% locked for 12 month (1 Year, ~13% of supply) 25% locked for 18 month (1,5 years, ~10% of supply) 25% locked for 24 month (2 years, ~9% of supply) 25% locked for 30 month (2,5 years ~8% of supply)

This will ensure that the team is locked but gets rewarded (salary) for the protocol contributions. As the team self funded the development of MagicSea, this will be the first time after more than 2 years of development for the team members to earn with the protocol. At the beginning the team will have a larger share of the Magic LUM staking pool and with time gets more and more diluted. This allows for a natural step by step decentralization of the protocol. For the team this creates a strong incentive to ensure growth of the protocol. The team is fundamentally incentivized to grow liquidity, trading volume and fee revenue. In general, this setting combines the interests of the team with the longterm users of the DEX and creates a strong motivation for the team to make the protocol as successful as possible.

The team only earns when the protocol is profitable. This set-up was chosen on purpose to not unload the development risk to the community and to keep the team focused on the KPIs that matter to be successful. After the first 1 year cliff, already 380.000 Magic LUM tokens are in circulation which means that only 13% of the token supply is unlocked.

The team token will NOT be used for voting.