The Mintlayer Token Launch is March 21, 2023. Join us on Telegram to learn more and claim your ML.
The Mintlayer token
The Mintlayer Token (ML) powers the Mintlayer network and keeps the blockchain secure at any level of scale.
The ML token serves three essential areas
Staking
ML token holders can participate in the blocksigner auction to stake tokens and become a weekly blocksigner. Run a node and collect transaction fees and rewards from the blocks you sign, by validating financial activity.
Community Engagement
Token holders participate in the decision-making mechanism expressing their opinions on the future development of the protocol.
Ecosystem tools
Users are incentivized to use ML tokens to pay for network fees as well as exclusive services and products within the protocol.
ML token and network fees
Using the proprietary consensus DSA system, Mintlayer can operate without a specific gas token. However, ML tokens can be used to pay fees, and entitles stakers to decide which other tokens to accept as network fees.
Token distribution factsheet
The initial unlocked token supply is set to 15,820,000 ML. Starting the official protocol launch, ML is used as an incentive for ensuring the network’s security. This incentive becomes integral in creating every block — validators stake their ML to reap the rewards of blocksigning.
The graph below shows how ML is distributed across the network’s participants. ( pool share are rounded to 2 decimal places )
ML distribution across the network’s participants.
Below, see the information for ML’s overall token supply and the share of the available supply at launch.
Pre-seed sale
2,500,000
0.62%
Seed sale
54,600,000
13.65%
Strategic sale - Long Vesting
52,000,000
13.00%
Strategic sale - Short Vesting
26,000,000
6.50%
Marketing and Listing
48,000,000
12.00%
Protocol Development
40,000,000
10.00%
Community Incentives
20,000,000
5.00%
Team and Advisors
50,000,000
12.50%
Company Reserve
106,900,000
26.73%
400,000,000 ML
200,000,000 ML
The eventual total supply of ML will be 600,000,000 ML. At the launch of the mainnet, 400,000,000 ML will be created. Each Mintlayer block will generate a block reward for the block creators until the total supply reaches the 600,000,000 ML hard cap. This is expected to happen approximately 10 years after the genesis block.
Token Unlock Schedule
Pre-seed
Seed
Marketing and Listing
Protocol Development
Community Incentives
Company Reserve
Team and Advisors
Strategic sale - Short Vesting
Strategic sale - Long Vesting
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We want you to ask questions
What is ML?
ML is the token native to the Mintlayer network. Its purpose is to support staking, governance, and ecosystem tools.
What is the total supply?
At the launch of the mainnet the total supply is set to 400.000.000 ML. Each Mintlayer block will generate a block reward for the block creators until the total supply reaches the 600,000,000 ML hard cap. This is expected to happen approximately 10 years after the genesis block. The maximum and total amount of ML tokens that can ever exist is set to 600.000.000.
Why have a native token?
From a technical standpoint, there are no other ways besides a token to envision a Bitcoin sidechain with dynamic participants in the network, which at the same time offers the right incentives to guarantee the security of the chain.
There are no other solutions in the market: a merged mining system like RSK is liable to drift towards an oligarchy of malicious players, while Liquid is a private sidechain (non-dynamic federates), and the peg-in model has noticeable security threats (the risk of a stall and the need of a back-up recovery key).
From a social perspective, the token serves different valuable purposes:
- Network effect: if the exchanges list the token, they are installing a node, so they become technically ready to receive all the tokens built on Mintlayer (such as Tether).
- Speculation brings more users. Statistically, at least some of them are beneficial to the network (running full nodes, contributing to the development, discussing fork updates, etc.).
