There are some misconceptions about BOS token distribution. I’m sure you may have come across a video titled “80% Owned By Founders — EOS San Fran Pulls Out of BOSCore Chain”. This is blatantly wrong and it gives a misleading perception of the values and economics of BOS.
BOS is not centralized. It is owned by the BOS Community. BOSCore is the foundation that initiated the BOS Network. BOSCore comprises of reputable members of the EOS community, block producers in EOS and the larger blockchain community. BOSCore owns only 20% of the initial supply of BOS tokens which would be locked and released within four years.
In the following paragraphs, I’ll give an accurate picture of BOS Economic Structure. It’s actually very simple and straight forward and clearly stated in the BOSCore Whitepaper.
BOS Economic System
The economic system of BOS is based on an initial token issuance or initial supply of 1 billion BOS tokens and annual inflation of 2%.
The 1 Billion Total Supply is distributed as follows:
10% or 100 Million BOS Tokens is for Airdrops
10% of the total supply or 100 Million BOS is set aside for airdrops. With a snapshot taken on the 1st of January, 2019, 50 million BOS was directly airdropped to all EOS main net accounts and the remaining 50 million BOS is being airdropped based on the transaction volumes of DApps and BP teams. Details about the airdrop are here.
10% or 100 Million BOS Tokens is Set Aside for Work Proposals or Strategic Partner Fund
BOS has a work proposal funds which will be used to invest in quality projects that are going to be adding value to the BOS ecosystem and the general EOS.IO community. The work proposal is live and can be accessed at https://boswps.io.
40% or 400 Million BOS Tokens is Used to Incentivize the Ecosystem
400 million BOS is used to incentivize the BOS ecosystem. Specifically to subsidize payments and transactions on BOS chain.
20% or 200 Million for Private Sale
20% of the initial supply or 200 million BOS tokens would be distributed to private sale investors. The private sale will be in four rounds, 50 million will be up for sale in each round. The second round of the private sale is in progress. It has a valuation of 0.02 EOS.
20% or 200 Million for Founding Team
20% of the initial supply of BOS goes to the founding team. This funds would be locked and released within four years.
The 2% Annual Inflation is Distributed as follows:
- 1% for BP rewards.
- 0.8% for developer rewards.
- 0.2% for governance incentives.
1% of the Initial Supply of BOS Tokens Goes to Block Producers
As seen from the images below, most of the top Block Producers on EOS support BOS.
0.8% Goes to Developer Rewards
0.8% of the inflation goes to developers that are making contributions towards the development of the BOS code.
0.2% Percent Goes to Governance
BCAC is the governing body of BOS. They are involved in the training and education of BOSCore governance. Some of this 0.2% inflation goes to BCAC to run their activities.
Reference
BOSCore Whitepaper: https://github.com/boscore/Documentation/blob/master/BOSCoreTechnicalWhitePaper.md#issuance-method
Please click on the following links to learn more about BOSCore.
Website: https://www.boscore.io
Github: https://github.com/boscore
Medium: https://medium/@boscore
