Token economics

Dock has a total supply of 1 billion tokens. The tokens were initially minted as ERC-20 tokens via the Ethereum smart contract with address 0xe5dada80aa6477e85d09747f2842f7993d0df71c and viewable on etherscan.

On December 8, 2020, Dock began a token migration to migrate all of the ERC-20 tokens to native tokens on the new mainnet. The token migration will continue for three months and all token holders must migrate their tokens before March 7, 2020. More information about the token migration is available here.

Token holders

Currently, token holders hold about 60% of total Dock tokens. They are able to use these tokens to participate in governance, issuing and validating on the Dock Network. An additional 5% will be distributed to Dock token holders as part of incentivizing early participation in the token migration.

Dock Association Treasury

An additional 20% of Dock tokens comprise the Dock Association's treasury and are used to fund development, operations, and marketing of the Dock network. Initially, the Dock Association's Board will decide how to spend the treasury on behalf of the network. As the network becomes more decentralized, token holders will be able to vote on how treasury funds are spent.

Emission Rewards

The Dock Association has committed 150M (15% of total supply) to emission rewards which will be released over time on the Dock mainnet. This release will be launched in 2 phases; the first phase is Proof of Authority (PoA) where Dock's governing council will select validators based on the validators testnet performance. The second is Proof of Stake (PoS) where validators will be selected on the basis of their staked tokens. For more detail on each phase please check the respective documents.

Parameter

Value

Total supply

1B

Circulating supply*

600M

Association controls

400M

Token migration incentives

50M

Association's commitment to emission rewards

150M

Estimated release for PoA phase

2M

Estimated release for PoS phase

198M

*The circulating supply of 600M is as shown on Coinmarketcap and is a measure of tokens being held by the general public.