$SPACE has no pre-minted token allocation, which is something that has been extremely rare - we've been used to seeing ~50% of token allocation towards partnerships/teams/investors/pre-seed and the such, and to see that a project has all token distributed by workload is amazing. The breakdown is as follows:
- 35% PoW (Proof of Machine Work) via SHA-256 Mining (just like Bitcoin)
- 55% PoB (Proof of Human Work) through DAO
- 10% PoB through early builders
Token distributions are broken down into the following:
1/ 25 $SPACE is released every block (block time is), and is halved every 1000 days. 2/ After the DAO is established, 2.5% of the allocated 55% tokens are released per quarter, and is halved every 1000 days 3/ Initial contributors have a 30-month vesting period for their tokens, and 2.5% of the allocated 10% tokens are released per quarter, fully being released in 4 quarters.
What is interesting to see is that SPACE brings us back to the core of the birth of blockchain - PoW mining. A major throwback is also the max token supply of 21M. Although the aim is decentralisation, centralisation can possibly still occur via the running of mining plants (such as what happened for bitcoin), and the same thing may happen for miners - with companies and monopolies gaining most of the rewards per block.
Their PoB mechanism states that it becomes a "business incubator for Web3" and allows the building of an entire ecosystem with low costs. However what I've come to notice is that with low costs also comes exorbitant number of projects that may harm the ecosystem (rugged projects, NFT scams on Solana).
I am also extremely curious on the integration of the DAO along with voting proposals that can change mining rewards for PoB, and how it might change the tokenomics and allocations. Show Less
