NPM Token Design (Draft)
This document is a draft and likely to change.
Disclaimer#
If you're considering investing in cryptocurrencies, especially NPM tokens, it's crucial that you do your own research and have a good grasp of the potential risks, both present and future. It's important to be aware of the potential risk factors that come with cryptocurrency investments and to be well-informed before making any investment decisions. So take the time to educate yourself thoroughly before you jump in!
Scam Risks#
Please be cautious of fraudulent individuals: we have no intention to engage in any fundraising activities nor do we have any plans to sell NPM tokens.
- Make sure to only get information about Neptune Mutual from our official website, https://neptunemutual.com. This is to prevent you from getting tricked by fraudsters. It's a good idea to save the website as a bookmark for easy access.
- Neptune Mutual is not involved in any public sale round or an initial coin offering (ICO) to sell tokens. We are only allocating tokens to users of our app, whether you are an early or late adopter. Please be cautious of anyone attempting to sell NPM tokens to you as they are not affiliated with Neptune Mutual.
- Please refrain from approaching any of our moderators with investment proposals, as they are not authorized to solicit funds on our behalf. We cannot be held accountable for any such unauthorized activity.
- We do not have any support team that provides any kind of support or assistance via chat or email. We also never initiate direct messages or contact users through social media, email, or message boards. Please be cautious of any unsolicited messages claiming to be from Neptune Mutual, as they are not legitimate.
- We never send unsolicited emails offering investment opportunities or provide any incentives such as tasks, rewards, bounties, discounts, or bonuses through email, chat, or social media direct messages. Please be wary of any such unsolicited messages claiming to be from Neptune Mutual, as they are not genuine.
- Under no circumstances should you send tokens to any address in return for a reward, nor should you connect your wallet to claim any form of incentive. Please exercise caution and be mindful of potential scams or fraudulent activities.
- We never request any wallet or private key information, secret phrases, or mnemonics from our users. Additionally, we do not offer any wallet software for download or use. Please be aware that any such requests or offers claiming to be from Neptune Mutual are fraudulent and should be avoided.
- If you receive any messages or communications from individuals claiming to be part of the Neptune Mutual team, please be advised that they are likely scammers and should not be trusted. We would like to emphasize that we do not initiate direct messages or contact users through social media, email, or message boards. Please exercise caution and report any suspicious activity to us immediately.
It is completely understandable and acceptable to question people and their intentions, especially when it comes to financial transactions. It's always wise to remain vigilant and cautious, and to avoid any transactions or activities that appear suspicious or raise red flags. Remember, your safety and security should always come first.
Crypto Market Risks#
We want to make it abundantly clear that the Neptune Mutual Cover Protocol is a high-risk project. Please be aware that the price of NPM tokens may not reflect the development, business, usage, or any value associated with Neptune Mutual.
NPM tokens may not have any intrinsic value and are subject to the possibility of being rendered worthless, resulting in the potential loss of your investment. It's important to note that NPM tokens should not be considered as any type of investment agreement, security, bond, loan, stock, unit trust, or unit of a collective investment scheme, or any other form of financial instrument. We do not advise, suggest, or imply that the token has any intrinsic, financial, or investment-worthy value. Please be aware that no action has been or will be taken in respect of obtaining any approval under any laws, rules, or regulatory requirements in any comptenent jurisdiction.
NPM Token Design#
It's worth noting that while the Neptune Mutual token (NPM) does not have a fixed supply, the maximum number of tokens that can ever be minted is limited to 1 billion tokens.
- The tokens have a cap on their issuance for each category.
- It will take 10 years, until mid 2033, to fully issue all NPM tokens.
- Tokens that have been allocated to strategic and institutional investors are subject to a cliff and vesting schedule that can last up to 3 years, depending on the region.
- The team tokens will be vested over for the next 5 years, which will result in a total of approximately 7 years of token lockup, if you include the inception of our project.
Lockup, Vesting, and Circulation#
| Category | Amount | Description |
| Seed Round Investors | 84.3M NPM (8.43%) | At the time of the token generation event (TGE), 0% of the tokens will be unlocked. The remaining tokens will be unlocked on a monthly basis over the next 24 months. It's worth noting that some institutional investors may have a 1-year cliff, which results in a 36-month vesting period for their tokens. |
| Private Round Investors | 27.0M NPM (2.7%) | 0% of the tokens will be unlocked at the time of the token generation event (TGE). The remaining tokens will be unlocked on a monthly basis over the next 18 months. |
| Team Tokens | 160.0M NPM (16%) | 12-month lockup followed by a 4-year vesting schedule. Total 5 years after the TGE to fully vest. Year 1: 0%, Year 2: 12.5%, Year 3: 25%, Year 4: 50%, Year 5: 100%. |
| Long Term Reserves | 200.0M NPM (20%) | 12-month lockup. 0-100% in 10 years. |
| Grant and Ecosystem | 150M NPM (15%) | 12-month lockup. 0-100% in 10 years. |
| Security Research, Partnerships, and Bounties | 128.7M NPM (12.87%) | 12-month lockup. 0-100% in 10 years. |
| Total | 75% |
No Lockup#
| Category | Amount | Description |
| Community Incentives | 150.0M NPM (15%) | 0-100% in 10 years. |
| Liquidity Rewards | 100.0M NPM (10%) | 0-100% in 10 years. |
| Total | 25% |
Categories Explained#
| Category | Description |
| Community Incentives | Community incentive tokens are solely intended to promote and build the Neptune Mutual community through various activities, such as promotions, competitions, lucky draws, advertisements, and educational workshops. The aim is to increase community participation, raise awareness, and attract cover purchasers and liquidity providers to the platform. |
| Liquidity Pool | The liquidity pool allocation is primarily used for market making, which involves providing initial liquidity pairs for decentralized exchanges (DEXes) and future centralized exchange (CEX) listings. Additionally, it can be utilized for offering rewards via our partner network through staking pools and bond pools. Furthermore, it can also be distributed as rewards to users of external protocol partners and Neptune Mutual protocol users. |
| Grant and Ecosystem | These tokens are awarded at the discretion of the project team, with the aim of incentivizing developers to build on top of Neptune Mutual, as well as strategic partners who can add value throughout the product deployment life cycle. In addition, the tokens may be distributed to individuals or entities who can help spread awareness and promote wider community adoption of the platform. |
| Reserves and Foundation | The reserves are subject to being allocated as additional rewards for the protocol users, as well as being employed in upcoming fundraising rounds. The distribution of the reserve tokens is subject to adjustments based on the usage and distribution of the protocol's tokens, and may be re-allocated to Community Incentive, Liquidity Pool, Grants, or other areas in accordance with the protocol's future roadmap. |
| Security Research, Foundation, and Rewards | Security and research panel members are independent security researchers and companies hired by Neptune Mutual to conduct security assessments and audits of our platform, as well as the protocols we work with. Additionally, the allocation will be utilized to conceptualize new cybersecurity products that can help enhance the the security posture of Neptune Mutual and our partners, as well as assist in mitigating attacks. In summary, this allocation is dedicated to bolstering the overall security of the Neptune Mutual platform and our partners. |