Half of every #dusk token that will ever exist went to private sale investors before mainnet even existed. Thats not a small detail.
I went digging through $DUSK own tokenomics page looking for something else and ran into a line I had to reread. Private sale tokens make up 50 percent of the entire maximum supply. Not 50 percent of what was sold in the ICO. Fifty percent of every @Dusk token that will ever be minted, full stop, capped at one billion total.
For context, the actual public ICO back in 2018 raised 8 million dollars, tokens priced around four cents each. Thats the part most people know about, the public round. Whats less talked about is that the private allocation dwarfs it, half the entire supply, sold before public investors ever got a look, presumably at a steep discount to that four cent price. Private tokens had a vesting period running from 2019 to 2022, so this is not fresh dumping risk anymore, that window closed years ago. But the imbalance in who got access to half the networks total supply, at what price, happened long before anyone reading a coin listing today had the chance to participate.
I want to be fair here. This was 2018, private sales funding half a projects supply was not unusual then, its practically the template most L1s from that era followed. And the vesting being long finished means whatever distribution exists now is already baked in, not a future risk hanging over the price. Im not saying this makes Dusk uniquely bad.
I am saying that when a project talks about decentralization today, its worth remembering that half its total supply was allocated in a private room years before anyone outside that room got the chance to buy in. Thats just the starting point this token launched from.
I went digging through $DUSK own tokenomics page looking for something else and ran into a line I had to reread. Private sale tokens make up 50 percent of the entire maximum supply. Not 50 percent of what was sold in the ICO. Fifty percent of every @Dusk token that will ever be minted, full stop, capped at one billion total.
For context, the actual public ICO back in 2018 raised 8 million dollars, tokens priced around four cents each. Thats the part most people know about, the public round. Whats less talked about is that the private allocation dwarfs it, half the entire supply, sold before public investors ever got a look, presumably at a steep discount to that four cent price. Private tokens had a vesting period running from 2019 to 2022, so this is not fresh dumping risk anymore, that window closed years ago. But the imbalance in who got access to half the networks total supply, at what price, happened long before anyone reading a coin listing today had the chance to participate.
I want to be fair here. This was 2018, private sales funding half a projects supply was not unusual then, its practically the template most L1s from that era followed. And the vesting being long finished means whatever distribution exists now is already baked in, not a future risk hanging over the price. Im not saying this makes Dusk uniquely bad.
I am saying that when a project talks about decentralization today, its worth remembering that half its total supply was allocated in a private room years before anyone outside that room got the chance to buy in. Thats just the starting point this token launched from.
