# IC1101 World Token - $IWT

IC1101 World Token - $IWT is the utility and governance token of IC1101.

IC1101 provides $IWT rewards for loyalty players, early participants, ecosystem partners and builders.

* Total Supply: 10,000,000,000
* Initial Supply at TGE: TBD
* Contract address: TBD

## Acquisition of Tokens

* Space Upgrade and Mining: By purchasing decorative items with coins, the space level increases. After reaching a certain level, the upgraded space can produce a certain amount of $IWT.
* Staking Mechanism: IC1101 will gradually open up staking scenarios, allowing users to stake NFT assets or $IWT within IC1101 and receive a certain amount of $IWT as rewards.
* Airdrop: Early participants who acquire a certain amount of $IEC have the opportunity to receive airdrops.

## Usage of Tokens

* Purchase blind boxes: $IWT can be used to purchase blind boxes which include rare assets for upgrading the space.
* Space Reset: In the event of inadequate cleanliness and prolonged neglect, a space will be subject to closure. By using $IWT as payment, it is possible to initiate a space reset and reactivate it.
* Leaderboard Admission: By purchasing tickets with $IWT, you can participate in quarterly space leaderboards. There is an opportunity to share the rewards from leaderboard reward pool.
* Advertising Placement: It is possible to purchase advertising positions within the IC1101 Metaverse using $IWT as payment.
* Governance: TBD

## Value Accrual

* Medium of exchange
* Better Metaverse experience
* Buyback and Burn
  * Part of protocol revenue will be directed to buyback of circulating $IWT, which will then be burnt to create deflationary effects. Additionally, tax on in-game $IWT transactions will be burnt.
  * The idea is for the community to share the growth and achievement of IC1101 Metaverse.
* Staking
  * $IWT can be staked to receive streaming $IWT that will be distributed periodically.
* Governance: TBD

## Token Allocation  (Last Updated: 2024/05/08)

<figure><img src="https://721019696-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FOUxmD62cbjpw4wtAzJXx%2Fuploads%2FuvDkfQsrBacSOTq8P5Wl%2F%E7%BB%8F%E6%B5%8E.jpg?alt=media&#x26;token=59f99207-8984-424a-8c4c-d15aad9402ac" alt=""><figcaption><p>Last Updated: 2024/05/08</p></figcaption></figure>

### Vesting and Emission (Updated:2024/05/08)

* Team (18%)
  * Vesting: 6 month cliff after TGE, unlocked linearly in 36 months
* Fundraising (18%)
  * Private Round (15%)
    * Vesting: 6 month cliff after TGE, unlocked linearly in 24 months
  * Public Round (3%）
    * Vesting: TBD
* Treasury and Reserve (25%)
  * Operation Fund (5%) - Used for bootstrapping, marketing and liquidity management.
    * Vesting: No lockup, 12 month linear vesting
  * Partnership Fund (5%)
    * Vesting: 2 month cliff after TGE, unlocked linearly in 12 months
  * Long-Term Reserve (15%)
    * Long-term lockup. The reserve will not be used in the near future. A portion of the protocol revenue is streamed to this vault. It will be managed by the community once the governance structure matures.
  * Community (39%)
    * Airdrop (7%)
      * Emission: TBD
    * Space Ranking (5%)
      * Emission: TBD
    * X to Earn (15%) - 15% are allocated to the x-to-earn incentive programmes. Decorating your spaces, upgrading rare wearables and items, collecting a full set of NFT furniture and many other actions will grant you a share of IC tokens.
      * Emission: TBD
    * Staking (8%) - Liquidity providers who stake tokens in designated pools share 8% of the IC token supply. LP shares of the staking yields are determined pro rata.
      * Emission: TBD
    * Business Incentive Pool (5%）