A total initial supply of tokens was 400M minted on the token launch. Out of those, 5.6% were sold in the seed round, and out of those 22,400,000 tokens, 25% were locked until the listing on exchanges and vested for the next 5 months.
Only 7.5% was allocated for the private sale, which is 30,000,000 tokens. 35% out of those tokens were unlocked on the listing and vested for the next 2 months. $960k was raised in the private sale round which was oversubscribed by 25x, with the participation of leading venture capital firms Bitscale Capital, TRG Capital, Master Ventures and LD Capital.
The same amount of 7.5% was allocated to the platform and partnership but with a different lock up the structure as 7.9% unlocked on the listing and 92.1% unlocked over the course of the next 12 months.
Gather Foundation took the biggest chunk of the tokens as 48.4% were retained by the foundation but are vested for the next 5 years and locked 6 months after the listing.
The team and the marketing got per 12.5% allocated, but the team tokens were locked for 6 months post listing and vested for 2 years while marketing tokens were locked for 3 months post listing and vested for 3 years.
Advisors got 6% out of the total supply and were locked out for 3 months after the listing with the vested period of 3-6 months.
Since there are different vesting periods for each category allocation on the graph below, you can see a visual representation of the token release schedule.
Token Release Schedule
Gather coin (GTH) is the Gather networks utility token. It is built on top of Ethereum is an ERC20 standard. Once the mainnet is launched, the token swap will occur in a 1:1 ratio.
The network creates a block every 120 seconds (2mins), with the block reward being 160 GTH that brings into existence around 115,200 coins per day or around 42,048,000 coins per year. As stated, the chain starts with unlimited supply and will transition into a limited one based on:
Sustained volume over time
Processing power sustained over time
Number of top-end participants and number of active forks of a predefined chain size
When this takes place, only 1,314,000 new blocks will be made, which is approximately 60,000,000 coins that take about 5 years to be mined.
Transaction fees will be charged at the fixed amount of 0.01 USD until 1st Gather Network halving + 6 months. After that, the network will transition to a floating market-driven GTH pegging afterward. TPS is very slow, with an average of 7 transactions per block.
As a hybrid blockchain between PoW and PoS, the block reward is split 70% PoW / 22.5% Master node / 7.5% PoS rewards until halving at block 600,000, which would take about 2.28 years from when halving triggers.
In order to run a masternode, users must acquire tokens from exchanges, and a total of 250.000 GTH tokens are needed for a full node. The APR for the first 80 masternodes is 100%, which is expected to decrease to 40% when 200 nodes are established. When the network reaches 200 nodes, it would mean that 30% of the circulating supply will be locked calculated by the circulating supply in the first year.