Providing methods for users of the platform to earn CMK allows for wider distribution to engaged parties. This allows for targeted decentralization based on engagement and all of the assurances it brings.
At launch, 100M CMK will be minted. Here’s how it will be distributed:
- 10M will be distributed during our public distribution event.
- 21.2M is sold via our private sale before the public distribution event.
- 24M is distributed to the core team and advisors.
- 33M is used as rewards in our community treasury.
- 11.8M is owned by the DAO to establish partnerships, pay for legal and development fees, and provide additional market liquidity as necessary.
Our vesting contracts ensure that the token is appropriately distributed long-term, as decentralization increases on the platform. All investors will vest for 24 months, linearly, block by block. All founders, core team, and advisors will vest over 36 months, block by block, with a 6 month cliff. The rewards distributed by the community treasury, public sale, and DAO will be liquid immediately. We expect the community treasury to supply rewards for 4-7 years.
Our public launch event will be an IDO, or Initial Decentralized Offering(19), the details of which are beyond the scope of this document.
Model contributors who create models that are successful and make it onto the respective category leaderboard earn CMK. This offers scientists the potential to earn full-time incomes while building out valuable DeFi infrastructure.
Furthermore, the CMK they earn effectively gives them a greater stake in the entire system. This is powerful positive reinforcement because it means that the actors building the best models, and providing the results that actually generate demand for Credmark, are the ones who earn more CMK to then use as a part of the system.
This means that they have more CMK to stake, to then submit more models, and more CMK to have a say in expanding the whitelist of categories in new directions that are clear low-hanging fruit.
However, even if one is not a data scientist, there are still opportunities for users to earn CMK . The primary method involves taking part in governance.
Any user who takes part in key governance votes by using their CMK will also be rewarded for doing so. Participation of the CMK holders is key to ensure that the game theory of the Credmark protocol holds. This is especially important for the case of voting to remove models from the attestation registry submitted by bad actors who intend to simply waste resources.
Because voters are integral for protecting the system, they are adequately rewarded for performing this job, and so have a clear path to earning more CMK by ensuring that the system runs smoothly and is upgraded and improved over time via governance.