TLDR
- $GOATED will power rewards, governance, and staking within the GOAT Network, focusing on Bitcoin scalability.
- 40% of $GOATED’s 1 billion supply goes to mining rewards, including sequencer and zk proof incentives.
- The token will unlock 10.43% of its supply during the token generation event, available for trading.
- Airdrops of 7% of the $GOATED supply will incentivize user adoption and network participation.
The GOAT Foundation has officially revealed the details for its token generation event (TGE) for $GOATED, a new cryptocurrency designed to support the Bitcoin ZKRollup GOAT Network. This network aims to enhance Bitcoin’s scalability while maintaining its native security. The $GOATED token will function as both a reward mechanism and a governance tool within the GOAT Network.
The Foundation intends to use $GOATED to unlock key utilities across the network, including staking, mining rewards, and incentivizing developers. This aligns with their goal of scaling Bitcoin’s performance and introducing Bitcoin yield, all while maintaining decentralized control through its innovative structure.
Token Allocation and Distribution Plan for $GOATED
According to the official announcement, the total supply of $GOATED is capped at 1 billion tokens. A significant portion, nearly 40%, will be allocated to the ecosystem’s mining rewards pool. This includes rewards for sequencer mining, zk proof verification, and ecosystem contributions. By distributing tokens to multiple sectors, the GOAT Foundation seeks to ensure active participation across the network.
A further 23% of the token supply will be directed towards the team, key contributors, advisors, and future employees. These tokens will be locked for a 12-month cliff, followed by an 18-month linear vesting period. Early supporters of the GOAT Network will receive 15.58% of the supply, also subject to a vesting period.
Additionally, 15% of the tokens will be set aside for the on-chain treasury, with a focus on funding initiatives, providing liquidity, and incentivizing further growth within the ecosystem.
Airdrops and Community Incentives for $GOATED
To foster community engagement and encourage adoption, 7% of $GOATED’s total supply will be reserved for airdrops. These will be distributed based on prior snapshots and are intended to reward active users and promote further network participation.
This approach reflects the Foundation’s commitment to growing its community and ensuring long-term engagement with the network.
The first phase of the token release will unlock 10.43% of the total supply at the token generation event. This means that approximately 104.3 million tokens will be available for trading on the TGE day. The airdrop will play a crucial role in ensuring that a broad user base can participate in the ecosystem from the start.
GOAT Network’s Vision for a Decentralized Bitcoin Ecosystem
The GOAT Foundation’s overarching goal is to create a decentralized and sustainable network that enhances Bitcoin’s utility while leveraging the power of ZK-Rollup technology. By shifting Bitcoin’s ecosystem towards a more scalable and efficient model, the GOAT Network aims to position itself at the forefront of blockchain innovation.
Challenging traditional financial systems, the Foundation’s strategy includes using $GOATED to drive adoption of decentralized finance (DeFi) and enable transparent, trust-minimized systems. With its mining rewards, staking options, and governance features, $GOATED will serve as a fundamental tool in building a decentralized Bitcoin economy.
