Tokenomics

The heart and soul of Beets. The BEETS token is an integral part of the Beets ecosystem and has 2 major branches of utility.

1. Governance participation

The BEETS token is the gateway into governance rights and grants users the ability to influence the evolution of the protocol through decentralized governance.

2. Rewards

Liquidity providers earn BEETS as liquidity mining rewards for providing liquidity on the platform.

Initial Supply and Tokenomics#

BEETS was originally launched with a planned maximum supply of 250,000,000. Of this maximum supply, 22% or 55,000,000 tokens were minted at launch as an initial supply and the remaining 195,00,000 were to be distributed using MasterChef contract.

Quarterly Budgets#

Together with finding a new home on Sonic, Beets is now using a Quarterly Budget System. The goal is implementing a flexible emission and budgeting system for BEETS on the Sonic network and transitioning away from the fixed emission schedule previously in place. This new system provides governance-controlled flexibility, enabling the protocol to adapt emissions to changing market conditions while safeguarding the token supply and community interests.

Every new budget will be prepared by the Music Director Committee, who present the proposed budget for approval by Beets DAO. The Music Director Committee will follow the approved budget. Anything falling outside the Music Directors' parameters must be put forward to a community vote.

The Music Director Committee is elected through community governance and the current serving members are as follows:

• Matt | Alfalfa or Spanky?
• Ardordo
• Netrim
• S0meone
• Franzns
• SunFire
• Decentralix