Yield market protocol Timeless will launch its token, Liquidity Incentive Token ($LIT), on January 9th, 2023. The total supply of $LIT is 1 billion and the token distribution is as follows.
- Community: 72%
- 45% distributed as gauge rewards on a 4 year halving schedule
- 11% held in the community treasury
- 10% sold through LBP
- 5% distributed to veMPH holders over 4 years via a staking pool
- 1% airdropped to early Timeless & Bunni users (25%) and active Uniswap v3 LPs (75%)
- Team: 25% vested over 4 years
- Investor: 3% sold in the seed round, 6 months cliff, then 1 year vesting
Timeless said that $LIT sits at the heart of its liquidity engine, Bunni, which aims to maximize liquidity on Uniswap v3. Bunni liquidity incentives will be launched on January 18th, 2023. In addition, the community will be able to obtain $LIT from our Liquidity Bootstrapping Pool (LBP), which will begin at 12pm January 9th, 2023 (Pacific Time) and will be active for a 7 day duration. The airdrop and veMPH staking pool will be launched on January 25th, 2023.