What’s the purpose of token distribution?
This is part of Tracer’s pathway to decentralisation. Decentralised governance is only achieved when TCR is distributed among its community. An auction is a way to give motivated community members a chance to purchase voting rights, so they can help to govern the Tracer protocol in the future.
What is Gnosis and why was it selected?
Gnosis Auction is a platform that provides a fair mechanism for the public to value and purchase a tokenised asset. It is suitable for a distribution event because of the wide visibility it offers, its front-running (MEV) protection, and the ability for participants to bid when they want (and avoid spiking gas prices).
Where do proceeds go?
All DAI received from the auction will go to Tracer DAO’s treasury, to be used by the DAO to further its vision of building derivatives infrastructure for the decentralised economy. Notably, DAO members who purchase TCR during the auction will have a say in the future use of these funds.
What are the auction parameters?
- Auction commences: September 10th 09:00 UTC
- TCR distribution: 50,000,000 TCR
- Minimum amount: $2,500,000 DAI
- Bidding token: DAI
- Auction concludes: September 15th 09:00 UTC
- TCR token address: 0x9c4a4204b79dd291d6b6571c5be8bbcd0622f050
What is the token allocation?
The current token distribution is as follows:
Tracer DAO’s proposed future token distribution which includes the allocation for the Gnosis Auction (in market distribution) can be seen below:
What is the vesting schedule for Strategic Partners?
The strategic partner’s TCR tokens vest linearly over a two-year period, starting when this proposal was executed on-chain.
What tokens do I need to participate?
You need DAI to participate in the Gnosis auction. DAI can be purchased via SushiSwap.
What is the public TCR token address?
TCR token address: 0x9c4a4204b79dd291d6b6571c5be8bbcd0622f050
How many tokens will be in circulation after the Gnosis auction completion?
Approximately 50,000,000 more. A lot of the already-distributed TCR is still vesting, so it’s hard to give a definitive number. A good way to see how much is circulating is to look at these transactions on Etherscan. What really matters is the amount staked in this contract: these are the Tracer DAO members currently governing the Tracer protocol.
Is there a minimum and maximum amount of tokens I can buy?
There’s no minimum amount of tokens an individual participant can purchase. However, the auction has a minimum receipt of $2,500,000 DAI.
Legal and Financial Advice Disclaimer:
The information provided in this article is for informational purposes only. Any material in this article should not be considered as legal or financial advice. Tracer DAO is not an investment advisor and this is not a place for the giving or receiving of financial, tax or legal advice or investment strategy. Tracer DAO is not regulated by any financial services authority. You should consult with a financial advisor, attorney or other professional to determine what may be best for your individual needs.
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