All of the emissions related to $NINJA will be coming to an end with the end of our incentivized liquidity pools on both Orca and Raydium.
35M locked $NINJA tokens will be unlocked on Sept 30th, 2022.
Following the unlock, the $NINJA halving will take place and 25M of the circulating supply will be burnt, reducing the total supply of $NINJA to 25M of which all 25M will be circulating.
5M of the unlocked $NINJA token supply will be transferred to NINJA-DAO.
5M of the unlocked $NINJA token supply will be transferred to NINJA-PROTOCOL.
$NINJA 2.0 after the halving
$NINJA token post halving:
Total Supply: 25,000,000* $NINJA
Burnt: 25,000,000 $NINJA
NINJA-PROTOCOL: 8,000,000 $NINJA*
NINJA-DAO: 5,000,000 $NINJA*
PUBLIC ADDRESSES: 12,000,000 $NINJA*
$NINJA token distribution post halving
Post-halving roughly half the $NINJA tokens will be circulating in public addresses while the other half will be controlled by contributors of Ninja Protocol and members of the Ninja-DAO.
$NINJA tokens under the control of Ninja Protocol will be governed by those who contribute to the protocol.
$NINJA tokens under the control of Ninja-DAO will be governed by Ninja Protocol, badges holders, and token holders.
NINJA-DAO voting structure
The Ninja-DAO is structured with tier-weighted NFT votes, plain token votes, and a council vote with veto powers.
Contributors of Ninja Protocol act as a central authority at the top of the power structure, with the power to veto any passed proposals, as well as pass a proposal without the need to hold a greater vote.
Ninja Protocol is not without limitations and a system of checks and balances will be put in place to balance the power between the two bodies of the Ninja-DAO.
To access the Ninja-DAO, badges must be minted using $NINJA-LP tokens.
While $NINJA token holders will be able to vote with their tokens on proposals, only badge holders will be given access through the Ninja-DAO's web3 gates.
$NINJA-LP tokens collected through the mint fees of badges become protocol-owned locked liquidity that the Ninja-DAO controls.
The Ninja-DAO will have the ability to liquidate the LP tokens and distribute them to badge holders if the "Protocol-Liquidation" process is passed.
Badges incentivize liquidity providers to lock their liquidity into a collective without the need for token incentives that dilute the token's value for those who locked their tokens.
Examples of incentives built on top of badges
While badge holders can not individually remove their liquidity from the pool, holders can collectively express their loss of confidence in the protocol and vote to remove the liquidity for all holders.
Effectively dissolving the Ninja-DAO and all of its holdings.
The supply of badges will be controlled by the Ninja-DAO.
The mint of badges will be controlled by Ninja Protocol under the Ninja-DAO.
$NINJA token distribution before badges mint
The first set of badges will be up for mint on Oct 1st, 2022.
With the first set, the goal is to achieve locking up 1/3 of the $NINJA tokens circulating in the public.
$NINJA token distribution after first badges mint
Over time as the supply of badges increases, the majority of the available liquidity will become locked to the protocol's liquidity pool which is governed by those who provided the liquidity along with the protocol itself.
$NINJA token distribution with expanded badges supply
$NINJA and $USDC tokens from $NINJA-LP tokens are spread on the $NINJA/$USDC market with the NINJA-AMM program.
The fees generated through the spreads offered by the NINJA-AMM grow the liquidity pool over time while avoiding exploitation by MEV bots leading to "impermanent loss".
As interest in the protocol grows over time the trading activity generated by the interest will lead to more total value locked to the $NINJA liquidity pool.
The locking mechanism of the $NINJA-LP creates a deflationary effect on the public $NINJA supply through all trading activities.
$NINJA tokens sold into the $NINJA liquidity pool become locked to the liquidity pool + generate fees for the pool.
$NINJA token bought from the $NINJA-LP liquidity pool generates fees for the pool and may lock itself to the liquidity pool with additional liquidity.
$NINJA liquidity pool flow
Once the transition to $NINJA 2.0 tokenomics has been completed, additional utilities and value propositions will be created for both versions of the $NINJA token ecosystem over time.