Updating IBZ Tokenomics

We are approaching the day of our Balancer’s Liquidity Bootstrapping Pool event on Copper that takes place Monday, June 21 and we want to share a few changes we made to our Tokenomics structure.

In this article, we summarize all the details about token distribution and token economy.

The Tokenomics below replace the information provided over the last months.

At the end of the article, we also reveal further details about our upcoming launch event on Copper.

IBZ Distribution

Total Supply: 1,000,000,000 IBZ tokens

• 580,000,000 for Community and rewards (58%)
• 140,000,000 for Strategic Partnerships (14%)
• 100,000,000 for Core Team, Advisors & Future Hire (vested) (10%)
• 80,000,000 for Reserve Pool (8%) (Liquidity in exchanges,possible hacks situation)
• 50,000,000 for Early Investors (5%)
• 50,000,000 for Token Sale Fair Launch (5%)

From the total supply, we will launch a Fair Token Distribution through Balancer/Copper LBP of 50,000,000 IBZ (5%) for a pre-sale and liquidity-providing event that will last 10 days.

The remaining community distribution:

• Liquidity Mining
• Developer Mining
• Cashback
• NFT rewards

Token distribution through time

The long-term success of Ibiza Token lies in the hands of the community. With that in mind, we’re committed to never stop giving back. We allocate the majority of the IBZ token supply for the community, which will gradually be distributed to Ibiza users. Eventually, it will be IBZ holders’ call to decide how we distribute the tokens.

The core team is committed to long-term success with a 36-month vesting plan (3-month cliff, linear vested).

Coming up our Balancer’s Liquidity Bootstrapping Pool event on Copper

For the Ibiza Token launch, we have decided to count on Copper for a Fair Launch Auction (FLA) developed on Balancer’s Liquidity Bootstrapping Pool.

This option is the one that fits more with our idea of fair distribution of the initial tokens as it allows anyone to participate and offers numerous advantages as it provides an equitable competition between humans and bots, an even playing field of participation which results in an even token distribution and a smooth price discovery process that discourages front-running and minimizes volatility.

If you want to learn more about our Balancer’s Liquidity Bootstrapping Pool event on Copper that takes place on Monday, June 21, please take a look at the article we are going to publish in the next few hours.

About Ibiza Token

Ibiza Token is an ERC-20 governance token on the Ethereum Mainnet, created expressly for the island of Ibiza.

Ibiza Token (IBZ) aims to be a habitual means of exchange and payment gateway for all the Ibiza lovers within the Island and worldwide by growing in vision to a globally tradeable coin with full smart-contract capabilities.

Liquidity pools, farming contracts and, AMMs alongside the benefit of a series of incentives within transactions with local businesses are some of the key features encompassed by Ibiza Token which is fully aligned with the standards aimed at surpassing the corporate-capture vulnerabilities of DAOs.

Besides being a habitual means of exchange and a decentralized payments and transactions gateway, Ibiza Token will enrich the holders’ experience through Ibiza Pay, a dedicated iOS/Android application that provides with the opportunity to join special deals across a hand-picked selection of local tourism establishments and discover music and art from the island in the first Ibiza non-fungible token marketplace.

Website: https://ibizatoken.com

Twitter: https://twitter.com/IbizaToken

Telegram: https://t.me/ibztoken ( community)

https://t.me/ibizatoken (official announcements)

Etherscan: https://etherscan.io/address/0x5aa7c403c7de4b3bb0cc07079a03e389671a4771