$TIC is the native governance token for ElasticSwap
ElasticSwap launched on Avalanche, but $TIC is now available to trade on Mainnet ($TIC-USDC) and Avalanche ($TIC-AMPL and $TIC-USDC.e). We want to go where the project will have the highest possible support, which means we will be nimble and deploy across various EVMs. The low gas fees on Avalanche made it a good testing ground for the protocol in the early days.
The ElasticSwap team is a big fan of the fair launch approach taken by Alchemix with their $ALCX token. In designing the launch and release schedule, we've taken heavy influence from their team. We believe that the majority of the tokens should go to people who contribute to the protocol, specifically, the team who builds it, former ElasticDAO members who have chosen to support ElasticSwap, and liquidity providers who seed the markets.
$TIC is the native governance token for ElasticSwap. It has no hard cap to its supply, ownership rights to the underlying DAO vault, or guaranteed value of any kind. There will be four ways to acquire $TIC:
1) Participating in the Pre-seed (closed)
2) Seeding the initial public market on Sushi (closed)
3) Being a contributing member of the core team
4) Yield Farming
$TIC will be subject to a perpetual emissions schedule. The distribution schedule incentivizes initial liquidity and ongoing contribution to ElasticSwap and gradually reduces over time to ensure value retention. The ElasticSwap DAO treasury will receive an initial pre-mine of 20% of the expected emissions over the first three years. Ongoing emissions distribution will be split into several buckets, with 10% going to the DAO and 90% staking pools. There will be two private staking pools: one for the team which gets 16% of total emissions and one for the pre-seed contributors which gets 10% of total emissions. The public pools split the remaining 64% according to a schedule ratified by the DAO.