Grand Base, the RWA market of Base Ecosystem, announced on X that its new token will be launched on June 18, and the exact time is yet to be announced.
Earlier news, Grand Base announced the new token economics and will release a new contract restart token.
The total supply and final supply of the new token are set at 25,000,000. Compared to the old token economics, this means a 50% reduction in the number of tokens, which are distributed as follows:
- 6,720,000 tokens for community airdrops (26.88%), especially for former liquidity providers who suffered losses; vesting period of 12 months, 0% unlocked at TGE, and 5% of the total allocation unlocked monthly;
- 10,000,000 tokens (40%) will be distributed for the protocol restart airdrop according to the snapshot; vesting period of 3 months, 16.65% unlocked at TGE, and then unlocked weekly;
- 4 million tokens (16%) will constitute the treasury to provide sufficient resources for future initiatives and the sustainability of the ecosystem; vesting period of 12 months, of which 10% will be unlocked at TGE, and 10% of the total allocation will be unlocked monthly;
- 3,000,000 tokens (12%) are reserved for the Grand Base team; vesting period of 12 months, no initial unlocking at TGE, and no monthly unlocking;
- 1180,000 Tokens (4.72%) will be distributed to MEXC holders, and the total amount of tokens will be minted and sent to MEXC members responsible for executing automatic redemptions to facilitate this distribution; 100% unlocked at TGE;
-100,000 tokens (0.4%) will ensure initial liquidity paired with USDC on Aerodrome; 100% unlocked at TGE.
Previously, in mid-April, Grand Base was hacked and lost about $1.7 million.