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Ownership

Ownership of BANK Governance token by the Algofi DAO.
The Algofi DAO consists of numerous stakeholders. The community represents the core element of the Algofi DAO. The majority of the BANK governance token is earmarked for community the community treasury. Outside of the community, the DAO includes the Algofi core developers, investors, and the Algofi treasury.
BANK is required to vote and decide on the outcome of proposals through Algofi Governance. The Algofi DAO uses BANK to decide the future of the Algofi protocol.
At genesis, 5bn BANK will be minted and distributed to the Algofi DAO over time according to the following schedule:
Stakeholder
BANK Tokens
% of Total Supply
Vesting
Community
2,550,000,000
51%
Core Developers
1,250,000,000
25%
1 year cliff, 3 year linear
Seed Investors
468,500,000
9.37%
1 year cliff, 3 year linear
Private Sale Investors
148,500,000
2.97%
1 year cliff, 2 year linear
Service Providers
2,000,000
0.04%
1 year cliff
Algofi Treasury
581,000,000
11.62%
1 year cliff, 5 year linear
Total
5,000,000,000
100%
Vesting begins from the launch of Algofi Governance and BANK token.
1 year cliff, 3 year linear means 1 year following the launch of Algofi Governance, 1 / (1 + 3) = 25% of the allocation unlocks, then over 3 years in monthly installments, 75% / (3 * 12) ~ an additional 2.1% of the allocation unlocks. For example, Seed Investors will see 25% * 9.37% = 2.34% unlock after 1 year, then ~ 2.1% * 9.37% = 0.2% unlock monthly for 36 months.