Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation

Animecoin, the cryptocurrency project backed by Arbitrum and the Azuki NFT series, announced its tokenomics for the Anime token, expected to launch within this month on Ethereum and Arbitrum.Out of the total supply of 10 billion tokens, 50.5% is set to be allocated to the community, according to the tokenomics announced Sunday. Specifically, 37.5% of the supply is set to be given to the Azuki NFT community, while 13% would be reserved for “community cultivation.” The latter will be managed by holders via AnimeDAO to fund community initiatives.The Azuki company is set to receive 7.44% of the supply with a three-year vesting period and a one-year cliff. Azuki employees, contractors and advisors receive 15.62% as “early contributors,” with the same vesting conditions.The foundation would be allocated 24.44% of the supply for ecosystem growth, such as funding grant programs and supporting various operations at the foundation. The remaining 2% of the supply is set aside for other partner communities, including Hyperliquid, Kaito AI and Arbitrum. With the tokenomics, Anime's initial circulation supply starts at 7.69 billion, the foundation stated.The Animecoin project is a collaboration between the Arbitrum Foundation, Azuki and Weeb3 Foundation that started with a goal to create a blockchain ecosystem focused on supporting the growth of anime culture. Azuki Founder Alex Xu, also known as Zagabond, wrote in June that the overall experience of anime culture is fragmented, citing a lack of a unified platform. “ANIME is a Culture Coin — a movement that transforms the anime fandom of 1 billion fans into a community-owned network of creativity,” the Animecoin Foundation wrote in the Monday post.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.