Token

There are 100M SLND tokens. SLND’s distribution is as follows:

SLND token distribution. Note that IDO allocation is part of the treasury.

60% of SLND is allocated to the community. Half of that is allocated to the liquidity mining program and the other half is allocated to the Solend Treasury, owned and governed by the Solend DAO. 5% of SLND is allocated to the IDO, coming from the treasury. The Solend Treasury will own the IDO funds and LP position (details in IDO section.)

25% of SLND is allocated to the core team.

15% of SLND is allocated to VCs and Angels. Only 10% was distributed in the seed round, but an additional 5% is set aside for a potential future raise in case it’s needed.

Lockups

Seed round participants have a 3-year unlock schedule with the first third unlocking October 1, 2022, and the rest unlock 1/36th monthly after. The team also has a 3-year unlocking schedule with the first third unlocking June 1, 2022 or later (based on join date). There is no lockup for IDO participants.

Circulating supply

Solend's liquidity mining program is the main driver of circulating supply, especially early on. See this spreadsheet for a projection of the SLND circulating supply.