If this is your first time meeting our project, we would like to start by giving you a quick summary of what Areon Network is and what it stands for.
If you are already an Areonite, you can skip to the next section below for the update.
Areon Network is a unique, decentralized Layer 1 blockchain project with a spotless track record of stable development since day 1.
We have been developing our own blockchain, Areon Chain, where anyone can develop new dApps, as well as perform daily interactions of sending and receiving payments instantly for incredibly low fees.
Our consensus mechanism is called Proof of Area and it is a unique technology which makes our chain extremely fast and stable for proving transactions.
We reach up to 600,000 transactions per second without issues, and complete a transaction in around 100 milliseconds.
You can read all about it in our Whitepaper.
We are starting our testnet on September 20 to show you what Areon Chain is capable of.
And along with that, we would like to share our vision of new token economics and distribution ratio.
What is new?
The launch of testnet on September 20 was the first leg of our announcements. Here is the second part of big news:
As we migrate from Binance Smart Chain to our own coin on Layer 1 Areon Chain, we are revising our tokenomics too, for the benefit of the project and the community.
We are changing the Maximum Supply of $AREA from 500 Million to 250 Million, as well as the ratio of locked amounts.
What does this mean for AREA investors?
First of all, it proves that Areon Network is not interested in hype-oriented or inflation-based methods.
In fact, this is a deflationist approach that aims to improve and stabilize our coin.
As we start our mainnet, your AREA tokens will be swapped with AREA coins on 1:1 basis.
As a result, you will actually end up with more of our currency in relation to the total supply. Because the total supply will be halved.
In fact, as part of this long-term deflationist strategy, Areon will reach a Max Supply of 100 Million within 10 years.
The New Tokenomics: What’s Changing?
The distribution ratios are being revised as follows:
30% Ecosystem Development:
This is a significant increase. It signals a sharper focus on the long-term growth of our project.
Any new product that will be developed on Areon Chain will be boosted by this decision.
Newly introduced, aimed at community engagement and rewards.
For the major supporters and investors of the project that will be decided by the Areon team, keeping in mind the best interest of the project.
The share of the Areon team. Locked amount is still unchanged.
10% Public Sales:
Unchanged, maintained for public fundraising.
10% Listing and Liquidity:
Significant amount set aside for listing and liquidity.
Please remember that as we start mainnet, our project will be much more mature than before.
Also, our community will be much stronger by then. That means we will have a huge bargaining leverage against exchanges.
One could say that the exchanges will come to us in order to list our project.
We will carefully select top Tier exchanges for our project, aiming for the best of Areon, as always.
10% Company Reserve:
This is reduced, but it just goes to show you the confidence in the project’s sustainability.
So, why the changes?
Focusing on Ecosystem Development
By allocating a larger percentage to ecosystem development, we are investing in our future.
Ecosystem development can include new dApps, new integrations, new partnerships, enlarging our scope and horizon for the future.
The introduction of a 20% allocation for the community indicates a shift towards a more community-driven approach.
This could involve community rewards, governance, and other engagement activities.
Backing the Backers
The 10% allocation for major backers just goes to show our dedication and strong partnership connections with the major investors in our industry. We will carefully pick our backers and ensure that our project is entirely decentralized and autonomous forever.
The reduction in Company Reserve and Listing & Liquidity suggests that Areon is confident about its financial stability and the project’s future, thereby requiring less ‘buffer’ capital.
What is next?
The changes in Areon’s tokenomics are not just numbers; they are a strategic move aimed at long-term sustainability and community engagement.
By revising our tokenomics, we are demonstrating a strong understanding of its ecosystem’s needs and showing that we are in perfect control of its future trajectory.
If you have further questions about these changes, we would love to discuss them in our official communities on Telegram or Discord.
See you there!