Malt is a fair launch with a starting supply of around 1 million Malt. All of which was purchased for $1 each through our fair whitelist. The team do not get any free Malt and have to purchase it like everybody else.
After launch Malt's mechanism dynamically adjusts the token supply up and down to match market demand. Therefore there is no cap on the total supply as supply always scales up and down with demand.
Launching in this way with purely algorithmic supply adjustment means there are no unlocks or vesting schedules to flood the market with supply in the future. The supply is free to fluctuate in accordance with market ebbs and flows. No inflated market cap. No massive FDV. No insider unlock. All transparent.
Most projects launch with a governance token to proxy equity that they can use to incentivize new hires and compensate existing team members. Malt doesn't have this. Obviously the Malt team need to get paid and this is why a portion of protocol profit goes into a multisig treasury that can be used for (among other things) paying the team.
We strongly believe in the future of what we are building and understand that focusing 100% on growing and sustaining the protocol is in everyone's best interests. By not having a team allocation or governance token means the team can only make money if the protocol is profitable.
By removing the risk of insiders dumping on the public we considerably help the protocol in its early stages by avoiding unecessary sell pressure but we also incentivize the team to actually ship a working product before getting paid. We don't think its fair that teams can become overnight millionaires before they even ship a working product.
We are confident we will execute on our plan and are confident that the route we are taking may be harder but it will be worthwhile for the team and the community in the long run.
Last modified 10mo ago