The ZTG is Zeitgeist's native token. It is necessary for correct operation of the network. Honest participants are rewarded ZTG and malicious actors can lose their ZTG.
(1^10 Pennocks = 1 ZTG)
ZTG is used in various parts of the core protocol. The main uses are outlined below:
|Seed Sale||7,000,000||7%||Subject to 12 months vesting with 20% available at genesis and 80% on a linear schedule.|
|Strategic Sale||8,000,000||8%||Subject to 12 months vesting with 20% available at genesis and 80% on a linear schedule.|
|Public Sale (IDO)||10,000,000||10%||Available at genesis of the network.|
|Airdrops||3,000,000||3%||Strategic airdrops will target users of prediction markets applications on other chains in order to seed initial user base.|
|Community Incentives||2,000,000||2%||Strategic rewards which are reserved to community members who can prove they help the Zeitgeist project. This includes the referral program, early testnet usage, and content creation.|
|Parachain Lease||40,000,000||40%||These funds are reserved for incentivizing Zeitgeist’s parachain lease on Kusama for the first 6 years. It will likely be paid out to users who lock KSM in continuous interest payments similar to staking.|
|Team and Advisors||15,000,000||15%||Subject to 24 months vesting with 20% availabe at genesis and 80% on a linear schedule. Under the control of ZeitgeistPM LLC to reward early team members and future employees.|
|Zeitgeist Foundation||15,000,000||15%||Funds to be used to in developer partnerships programs, as grants to teams that build on Zeitgeist, in future airdrops or sales. Under the control of Zeitgeist Foundation, a non-profit entity separate from ZeitgeitPM LLC.|
Zeitgeist is choosing to target the Kusama network as the Relay Chain for ensuring security and enabling crosschain functionality.
Kusama is Polkadot's canary network that gets the features of Polkadot first. The community has a move-fast-and-break-things culture that Zeitgeist likes.
Zeitgeist will have a target of 5% annual inflation. Therefore, the supply of Zeitgeist over time is predictable but uncapped.
The inflation in Zeitgeist will primarily be used to incentivize ongoing security of the network. The security includes the acquisition of a parchain lease of Kusma and the selection and maintainence of collator nodes to perform the transaction collation of the chain (block production).
Of the 5% inflation, 1% will go to operators of collator nodes which do the block production, 2% will go to stakers of ZTG who help select collators, and the remaining 2% will go toward interest payments of participants who lock up KSM for acquisition of Zeitgeist’s parachain lease.
The transaction fees on Zeitgeist will be subject to 80% burn which creates a deflationary pressure on the supply. The remaining 20% of transactions fees will be sent to the on-chain treasury which will use the funds to fund the future growth of the network.