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BYTE Token

Overview

BYTE is the native token of BinaryDAO for:
  • yield
  • governance
The BYTE token doesn’t have a max supply. You can earn BYTE through staking, or you can buy BYTE through the mint function. Roughly 15% of all BYTE will go towards development to ensure rapid innovation.

Initial Tokenomics

The BYTE token is initialised through the Genesis sale events, with a total of approximately 3 million BYTE created as initial supply.
The allocations of the initial BYTEs are:
  • 250k BYTE airdropped to BIT NFT holders
  • 250k BYTE sold in community presale at $2 per BYTE
  • 2 million BYTE sold in public sale at $2 - $4.5 per BYTE
  • 222k - 500k BYTE minted in treasury to provide initial liquidity for BYTE based on final public sale price
  • Initial BYTE allocation to the development fund (15%) will be locked for 6 month, and linearly vested over 2 years
Post Sale Note
  • The final public sale price was $4.5 per BYTE
  • The treasury supply for initial BYTE liquidity on DEX was 222k BYTE and 1m USDC, a total of $2m initial liquidity.
  • The total initial supply for BYTE was 3.2m
  • The development fund allocation was 480k BYTE
  • The initial BYTE circulating supply is approximately 2.5m BYTE (3.2m - 222k - 480k)

Non-Inflationary Emission

While most tokens are inflationary with fixed emission schedules that might or might not align with actual protocol growth causing potential dilution. The unique tokenomics of BYTE makes it a non-inflationary token by aligning emission directly with protocol earning. New BYTEs can only be created in two ways:
Minter can mint new BYTEs by locking up stablecoins at a slight discount to the current market price of BYTE. Minting strengthens BinaryDAO's treasury, and increases the earning of the protocol overall. And since new BYTE tokens are minted at close to market price, it does not create inflation.
Stakers earn protocol revenue through staking in the form of new BYTEs. Since new BYTE tokens are only created based on protocol revenue earnings or from buybacks, we can ensure there will be no dilution for existing BYTE holders.

Possible Strategies For BYTE

Honest - The honest user will buy or mint new BYTE tokens and stake them to gain exposure to yields in the Metis Ecosystem. He benefits from BinaryDAO's treasury management expertise and earns passive income.
Opportunist - The opportunist will buy BYTE tokens in the genesis token sale or on the market, and sell later at a higher price. The opportunist knows the price of BYTE is unlikely to fall below the token sale price, and should go up as the protocol grows its treasury and generates more earnings.
Smart Investors: The smart investor stakes BYTE long-term to gain exposure to yields on Metis passively. He also meticulously analyses the equilibrium between BYTE price and treasury earnings to buy/sell BYTE for additional gains.
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On this page
Overview
Initial Tokenomics
Non-Inflationary Emission
Possible Strategies For BYTE