Important: I will not participate, as I do not have a Coinlist account.
Below is the analysis of tokenomics quality.
Immunefi publishes bug bounty programs for various projects, and white hat hackers and developers can find vulnerabilities/errors, report them, and receive rewards.
I have seen links to pages with information there many times during the 4K+ analysis.
Bug bounties have not always been reasonably priced, but I liked that there was such an opportunity (to search, report issues, and receive rewards).
And here they launch the token $IMU with an initial amount of 10 billion.
Source of information: documentation.
Distribution:
Ecosystem and community - 47.5%.
This pool is used to fund pre-sales, user incentives (e.g., bug discovery bonuses, staking rewards), partnership programs, token distributions, marketing, and liquidity.
The share is substantial, but there is no information about the available amount at TGE. It is unlikely that everything will be released at once. If so, this may create pressure on the price, especially with large distribution shares.Early Backers - 16%.
This is for supporting the mission and development of the project. Tokens are unlocked over three years. 16 / 36 - approximately 0.4-0.5% per month. This is acceptable, but if the other unlocks are not considered.The team and key participants - 26.5%
Above the norm by 10%.
Vesting for 36 months to ensure continuous development and alignment with long-term value creation goals. The team must earn their tokens over time, which encourages continuous development and directs developers towards long-term value creation.
This is approximately 0.74% per month.
Together with the previous point, it results in > 1% - quite a lot, although not critically.Reserve – 10%:
A small portion is kept in the treasury reserve for future needs and unforeseen opportunities to accelerate platform growth. This 10% serves as a safety buffer and growth fund. They can be used, for example, to obtain additional ecosystem grants or cover emergency expenses as the project develops.
But this is essentially still a share for the team that they can use at any moment - not good.
The norm for reserves is 1%-2%.
Utilities of the token $IMU:
Protocols receive credits in $IMU for enhancing security.
Protocols can stake $IMU to receive discounts and access to premium security features. Staking makes projects more secure and increases their engagement.
Security researchers stake $IMU to unlock increased rewards (Boost), which increases their yield and attracts more talent to Immunefi.
Staking aligns the interests of researchers with the mission of the Immunefi Foundation.
Users and the community can stake $IMU, supporting researchers or protocols.
Support for researchers can earn a share of their rewards.
Support for protocols results in rewards for contributing to their security.
Staking provides on-chain recognition and financial benefits.$IMU forms a self-reinforcing flywheel: protocols invest in security → researchers find vulnerabilities → the community enhances incentives → the cycle repeats and grows the ecosystem's value.
The issuance of $IMU depends on the actual growth of the ecosystem.
Tokens are released only during contribution events: enhancing the security of protocols, researcher activity, and community support.
But there is no demand beyond staking. And it doesn't always work well.
The solution would be to implement buybacks from platform fees, promote protocols in the bug bounty catalog, etc. But this is not happening.
Although the fact that stakers can receive part of the profits from the work of those they choose is interesting. But whether people will want to buy tokens for this is unclear.
Summary:
I'm not sure about the growth.
Participate in the sale with free funds with a maximum risk of 1-2% of the portfolio and sell after unlocks.
You were with a visually impaired programmer and review author.
I would appreciate comments, likes, and shares.
#bugs #coinlist #tokenomics