SeaDEX New Token Minting Announcement
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SeaDEX has been through a lot of challenges. From the subpoena, small quantity of users, the “bear market”, to the liquidity challenge. But we will not stop building; as always, consistency is vital. The team will continually strategize and execute what is best to bring SeaDEX in front of the world.
There are a lot of things that we can do. After much consideration and brainstorming many options, we believe that changing the project tokenomic is a better decision.
Starting with One Country
In the beginning, the SeaDEX tokenomic was created for one country’s purpose, Indonesia. As well as we realize the enormous potential happening in the country for the blockchain industry — we have tried to break into the Indonesian market using multiple marketing strategies. All was well until we received a subpoena from the biggest centralized exchange in Indonesia.
We didn’t stop just yet from there. We have gone through a major rebranding and are riding the wave using our new pirate ship, SeaDEX.
SeaDEX is different. Not that we completely removed our goal to start, but as you all know, we have stirred the ship from just the Indonesian market to the Southeast Asian.
To grow and envision the market, SeaDEX planned to create and build a community in each country in Southeast Asia. After a lot of evaluation and consideration, we found a tokenomic problem to handle to achieve the big picture.
The SeaDEX Tokenomic that was designed for one specific country needed to be changed to a new tokenomic for the whole of Southeast Asia. We have calculated the distribution mechanism and the locking plan that will not disturb the current market mechanism.
Minting was just done an hour ago. June 13th, 2022.
The total token that has been minted is 230 million. Of the 230 million tokens, 210 million will be locked and distributed 4.16% every month for 24 months (2 years). The rest, 20 million, will be locked for six months.
For the distribution, the token that will have been minted is distributed for Business Strategy Partnership in Southeast Asia and future development.
Once the minting process is done, the minting mechanism will be removed, and the total supply of SeaDEX will stop at 500 million.
Business Partnership Strategy
One of the minting purposes is prioritizing business partners in the Southeast Asia market. With the new allocation, we will have enough tokens to execute this in the 11 countries.
For the business partner strategy, we allocate 100 Million tokens with a vesting mechanism of 4.16% every month.
By providing the allocation for business and with the new highlight milestone of SeaDEX Aggregator, we believe we will have all that it takes to grow the ecosystem in Southeast Asia.
Rewards for the Southeast Asia Community
For the community, we are allocating 110 million tokens or around 11 Million tokens for each country with a 4.16% distribution mechanism every month.
Under the advice of the core team, every community leader in each country will later have the right to decide on the best way to distribute the token for the growth of SeaDEX.
Other than business and community, within six months, SeaDEX will be finalizing a few developments as shown in the roadmap.
We are allocating 20 million tokens with the locking mechanism for future development for six months. After that, the token will be distributed fully.
We hope that within the six months course, SeaDEX will transform into an all-in-one platform that drives new users from all across the country, specifically in Southeast Asia.
Link to the locked 20 Million SEAX Token
Link to the locked 210 Million SEAX Token
Minting Fuction has been removed
More and more are coming.
Till then, SeaSquad!