Token Distribution
Last updated
Last updated
EVZ Token Specs Name & Contracts EVZ(ERC20):0x7a939bb714fd2a48ebeb1e495aa9aaa74ba9fa68 Circulation Total Circulation : 10,000,000,000 EVZ Max Circulation : 8,304,504,456 EVZ (1,695,495,544 EVZ Burned)
Coinmarketcap Coinmarketcap: https://coinmarketcap.com/currencies/electric-vehicle-zone/
The total supply of VZ tokens will be distributed as follows:
35% of the total supply of VZ tokens will be offered for sale during a token sale, out of which, 33% will be sold privately to investors and other organizations and 2% will be sold to the public. The proceeds from these sales will be set aside to generate the initial fund.
20% of the total supply of VZ tokens will be set aside for the market and advisors. Such VZ tokens shall be subject to a lock-up period of three years as described below.
15% of the total supply of VZ tokens will be set aside by VZ Foundation Ltd. for use at its discretion. Such VZ tokens shall be subject to a lock-up period of three years as described below.
15% of the total supply of VZ tokens will be kept in reserve for emergency situations.
10% of the total supply of VZ tokens will be set aside for the VZ team. Such VZ tokens shall be subject to a lock-up period of 30 months as described below.
5% of the total supply of VZ tokens will be made available in the ecosystem. Notes: The above token distribution and distribution of proceeds are subject to change without notice.
Details of the lock-up period:
(i) The VZ tokens that are set aside for the market, the advisors and VZ Foundation Ltd. shall be subject to a lock-up period of three years. During such lock-up period, such VZ tokens shall be unlocked in tranches: the first tranche of such VZ tokens shall be unlocked on the first anniversary of the date of which VZ tokens are first listed on an exchange ("First Listing Date") and thereafter, the remaining tranches of such VZ tokens shall be un-locked every month up to the last day of the lock-up period.
(ii) The VZ tokens that are set aside for the VZ team shall be subject to a lockup period of 30 months. During such lock-up period, such VZ tokens shall be unlocked in two tranches: the first tranche of such VZ tokens shall be unlocked 18 months from the First Listing Date and thereafter, the second tranche of such VZ tokens shall be unlocked 30 months from the First Listing Date.
Policy of Token Burning
If a business fails to properly manage a electric vehicle charger that was installed, the VZ tokens that was staked by the business will be burned. Recently the management of electric vehicle charger has fallen into neglect, and the system does not run smoothly. In the event that, even after securing many charging point operators to participate, the system does not run normally, the VZ Platform can lose credibility. In order to prevent these kinds of problems any businesses that participate in the platform and deal with their tokens in an unsatisfactory way will have their staked tokens burned. Any parties that cause damage to a charging point will have a 168 hour (7 days) grace period to rectify the problem, after which every 12 hours a certain amount of staked token will be burned and after all staked tokens are exhausted, they will be banned from the VZ ecosystem.
Securing an Incentive Pool:
In the interest of signing up businesses to the platform, VZ offers their products as rentals. Businesses can pay off their infrastructure installation fees in installments. To provide further incentive, the VZ team will place 10% of profits from rentals into an incentive pool.
Of the total raised funds, 24% will be dedicated to marketing and business fees, 20% will be invested in development, 20% spent on infrastructure, 20% will go towards blockchain and business consulting fees, 10% for team foundation and management costs, 3% for advisors, 1% put aside for any potential legal expenses, 1% as a minimum funds for maintaining the token management ecosystem and finally 1% to be kept in reserve in case of emergencies.
