Lava Network releases LAVA token economics: total 1 billion, 15% of which will be used for future incentive programs such as airdrops

Lava Network, a modular blockchain infrastructure developer, announced the LAVA token economics. The total supply of LAVA is 1 billion, and a deflation mechanism is used to attract API providers in the initial stage of the mainnet. 15% of the tokens will be used for future incentive programs (such as airdrops), 6.6% of the tokens will be used for monthly distribution to provider rewards (Provider Drops), 3.4% of the tokens will be used for validator rewards, 31% of the tokens will be used for R&D and ecology, 17% of the tokens will be distributed to early investors, and 27% of the tokens will be distributed to early contributors, core teams, consultants, etc. In addition, validator rewards will decrease as the percentage of LAVA staked increases, and will decrease linearly between 60% and 80%. When the stake ratio reaches 80%, the rewards and half of the subscription fees will be burned to remove them from circulation, further controlling token inflation. Earlier in February, it was reported that Lava Network completed a $15 million seed round of financing, led by Jump Capital, Hashkey Capital and Tribe Capital, with participation from North Island Ventures, Dispersion Capital, Alliance DAO, Finality Capital Partners and others.