Initial Supply and Distribution
The ELUM token will be issued on the IoTeX Root Chain with a max supply of 20,000,000,000 minted at launch and with the vast majority of tokens are locked and released slowly over time. Mining rewards token distribution will follow a 4 year halving schedule set to begin after the initial soft launch.
Capture device owners receive tokens in exchange for their participation in the capturing of data. Rewards are calculated in relation to the data that is uploaded. Reward metrics include uptime, location (number of miners sharing a mining zone), and number of events captured, each having their own weight.
The reward system ensures fairness by utilizing metrics that will encourage maximum data quantity, quality, and token stability. Once the network is fully deployed and the initial token supply has run out, rewards will be sourced only from the recycling pool distributions.
Tokens distributed to the internal team and Operations / Ecosystem / Treasury are released on a vesting schedule of 48 months with the first release being made on the 1st day of the 6th month after the launch date. A monthly release of 1/48 of the locked amount is to be distributed over a 4 year period.