Token Allocation Scheme Announced by Iron Fish: Genesis Block to Contain 42 Million Tokens

According to reports, the privacy network Iron Fish has announced a token allocation scheme. Among them, Genesis Block will contain 42 million tokens, which will be distributed as follows:

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Iron Fish, a privacy network that ensures secure communications and transactions for users, has recently announced its token allocation scheme. As per the scheme, the Genesis Block will contain 42 million tokens, which will be distributed among various parties.

What is Iron Fish?

Before we delve into the details of the token allocation scheme, let’s take a brief look at what Iron Fish is all about. Iron Fish is a privacy network that operates on a distinct protocol known as Iron Fish Protocol. It ensures users’ privacy and security by concealing all transactions and communications through the network’s decentralized structure.
Iron Fish’s unique approach ensures end-to-end encryption without any involvement of third parties. So, users have complete control over their data, and their privacy is not compromised while using the network’s services.

Token Allocation Scheme

Let’s come back to the token allocation scheme. Iron Fish has announced that 10% of the total token supply, which is 420 million, will be reserved for the Genesis Block. Out of these 42 million tokens, the distribution will be as follows:
– Founders: 10%
– Advisors: 5%
– Strategic partners: 15%
– Seed investors: 15%
– Community: 55%

Founders

The founders of Iron Fish are the people who have helped bring the project to life. They have invested their time and resources to create the network, and their contribution is highly valued. Out of the 42 million tokens, 10% will be allocated to the founders as a token of appreciation for their efforts.

Advisors

The advisors of Iron Fish are the people who guide the project and provide their expert opinion to ensure the network runs smoothly. They are highly experienced and play a vital role in the network’s growth. 5% of the tokens from the Genesis Block will be allocated to advisors.

Strategic Partners

Strategic partners are the entities that help Iron Fish grow by providing their resources, expertise, and connections. They may be industry experts, venture capitalists, or other businesses that can partner with Iron Fish to achieve their mutual goals. 15% of the tokens from the Genesis Block are allocated to Strategic partners.

Seed Investors

Seed investors are the ones who invest in the project in the initial stages. They provide the necessary funding to get the project off the ground. Since they take a risk in investing in a new project, they are rewarded with tokens from the Genesis Block. 15% of the tokens will be allocated to Seed investors.

Community

Lastly, the community is the backbone of Iron Fish. Iron Fish needs its users to make it a success; therefore, 55% of the tokens from the Genesis Block will be allocated to the community. It is hoped that by giving a majority of the tokens to the community, people will be incentivized to use the Iron Fish network and help it grow.

Conclusion

Iron Fish is a privacy network that ensures complete privacy and security for users. Its unique approach ensures that data is encrypted, and there is no involvement of third parties. The token allocation scheme for the Genesis Block has been finalized, with 42 million tokens being distributed among various parties.
The founders, advisors, strategic partners, seed investors, and community will all receive different percentages of the tokens from the Genesis Block. It is hoped that this distribution will help the network grow and incentivize people to use Iron Fish’s services.

FAQs

Q1. What is Iron Fish?
A. Iron Fish is a privacy network that ensures users’ privacy and security by concealing all transactions and communications through a decentralized structure.
Q2. What is the token allocation scheme for the Genesis Block?
A. 42 million tokens will be distributed among various parties as follows: Founders (10%), Advisors (5%), Strategic partners (15%), Seed investors (15%), and Community (55%).
Q3. Why is the community allocated the majority of the tokens?
A. The community is the backbone of Iron Fish, and the network needs its users to make it a success; therefore, 55% of the tokens from the Genesis Block will be allocated to the community.