Massa's tokenomics and token unlocks

Agora
1

Hi massers,

While I believe in a huge potential of Massa’s technology, I have concerns about MAS tokenomics and want to hear official team and staker and user opinions.

Look at Massa price today, MAS to USD live price, marketcap and chart | CoinMarketCap

Total supply 1.03B MAS
Circulating supply 150.82M MAS (15%)

And especially token unlocks:

image
image1542×1006 48 KB

I see that unlocks will dilute MAS for 85% in the next 5 years. Also, forging rewards come on top.

Let’s speak about unlock categories:

  • Testnet Incentive Program 8% — 80m MAS
  • Massa Labs & Founders 12% — 120m MAS
  • Private Sales 16% — 160m MAS
  • Community & Ecosystem 32% — 310m MAS
  • Decentralization Program 31% — 292m MAS

All these digits are big comparing to the current circulation supply 150m MAS.
Supposing that not enough new coin holders arrive (I still think Massa will attract enough), unlocks dilute MAS price to $0.004 (–86%) — this calculation is a simulation only, it’s my own research.

Questions

  1. How many wallets receive Testnet Incentive Program payouts?
  2. How many wallets receive Massa Labs & Founders payouts? Do these team members have long-term goals in Massa?
  3. What’s the MAS price in Private Sales? How many wallets participated?
  4. Is there a public list of Community & Ecosystem wallets to watch? Who manages these wallets?
  5. Is there a public list of Decentralization Program wallets to watch? Who manages these wallets?
2

I let the Foundation give a detailed answer but I will just request that we use the official tokenomics as a basis of discussion instead of whatever coinmarketcap puts on their page.

It also cointains many answers you might be seeking. The tokenomics are quite unique and built to favor decentralization!

3

Hi,

Thanks for the reference.

I see that CMC is pretty clear on unlocks and their data corresponds the Massa’s page.

image
image1748×1424 171 KB

Who is the Foundation?

Unfortunately no.

4

Who is the Foundation?

I am managing Massa Labs, a software development company in France. I am not in charge of the ecosystem/token/marketing. The Massa Foundation (a nonprofit in Switzerland) is in charge of those tasks.

@seb_massa is the head of Foundation. They will respond whenever they can.

1 Like
5

Hello adm,

The circulating supply is now 232M MAS, you can see it on Massa Explorer.
The unlocked supply is a bit more than that as unlocked tokens that are held in reserves are not considered circulating.

  1. Around 10k KYC’d users receive their reward as part of the Testnet Incentive Program.
  2. I guess (I’m with Massa Foundation now) around 20/30 people for now in Massa Labs, the rest is held as reserves for future uses.
  3. Private sales were at ~$0.06 (in 2021) and $0.09 (in 2023), with ~130 people/entities in total.
  4. Yes all is in the tokenomics page. They are managed by the Massa Foundation which was created mainly for this purpose among other things like investing in and protecting decentralization. Also, when parts of these tokens unlock, they are not necessarily distributed and circulating, at least for now they are mostly held in reserves.
  5. The Decentralization Program is not started (and tokens are still locked). It is managed by the Foundation. It is not completely decided yet how much of it will be used and how much could be burned nor the exact details of the uses, but it will be used in ways that can only benefit decentralisation of the Massa ecosystem (cf our whitepaper for details).
1 Like
6

Hi!

Thank you for the detailed reply.

  1. Private sales were at ~$0.06 (in 2021) and $0.09 (in 2023), with ~130 people/entities in total.

Glad to read that private sales prices are reasonable.

Yes all is in the tokenomics page.

Unfortunately, not helpful,

genesis-ledger/input_listings/foundation.json at main · Massa-Foundation/genesis-ledger · GitHub has three wallets:

It’s 18m MAS total.

Or these three wallets are actual, but low MAS amount there means most tokens are still locked?

7

I can answer for the unlocking. Indeed it uses the deferred credits feature that automatically credits amounts at given times. You can find the unlocking calendar for each address here: https://raw.githubusercontent.com/Massa-Foundation/genesis-ledger/refs/heads/main/node_initial_setup/deferred_credits.json

This page is linked in the tokenomics page under deferred_credits.json: file containing all the scheduled unlocking of coins.

Note: founder coins are not vested using that method but using the Vesting smart contract https://vesting.massa.net

1 Like