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Tokenomics

Token Details

Token Distribution

Initial Circulating Supply

The ORCA governance token has an initial circulating supply of 5.25 million.
The entire initial supply was airdropped, as below, based on activity of liquidity providers and traders from launch to Aug 2, 00:00 UTC.
  • 4,000,000 ORCA to Liquidity Providers: Distributed retroactively to existing liquidity providers, weighted by total USD value of liquidity provided.
  • 500,000 ORCA to average traders: Distributed evenly to addresses with a total USD trade value between $1,000 and $10,000.
  • 500,000 ORCA to heavy traders: Distributed evenly to addresses with a total USD trade value ≥ $10,000.
  • 250,000 ORCA to advisors: These tokens were allocated to our advisors, e^{i} ventures, in exchange for sourcing early liquidity for the Orca protocol.

Team and Advisors

  • 20% to team
  • 9.6% to Series A Investors
  • 4.3% to Value Add + Advisory
  • All team members, advisors, and future investors will receive ORCA with a 3-year vesting schedule and 1-year cliff or lockup.
The new Value-add + Advisory category will be used to grow Orca through a combination of channels. Value-add can include various programs, such as encouraging developers to build on top of Orca through our Builders program and bringing aboard community leaders that want to grow with Orca. Advisors refers to subject area experts who can contribute to the growth of the Orca protocol. Our current advisors include e^{i} Ventures (veterans of the DeFi space), Austin Virts (Current Head of Crypto/Marketing at Audius, former Head of Marketing at Solana), and Reverie (leading decentralized governance activists).

Emissions

We continue to decentralise ownership of the protocol by distributing ORCA token rewards to liquidity providers. The launch of Whirlpools, which are more capital efficient, allows the protocol to distribute fewer tokens overall. ORCA rewards will gradually shift from Aquafarms to Whirlpools to ensured a continued great experience for users.
ORCA emissions are adjusted, together with the selection of liquidity pairs, every two weeks.

Series A

There has not been any public sales of the ORCA token.
There was a private fundraising round that took place in September 2021, during which 9.6% of the ORCA token was allocated. All investors are subject to a three-year lockup, one-year cliff, and a linear unlock thereafter.
Public information about the fundraise can be found here:

Orca Treasury

The Orca Treasury ties the value of the ORCA token to Orca itself. The accumulated fees may be used to fund development, manage the token supply through buy-backs, or other initiatives that support the long-term health of the Orca protocol.
Orca strives for transparency and in that spirit discloses relevant wallet addresses as follows:

Impact Fund

As part of Orca’s commitment to making a real-world impact, 20% of the fees earned by the Treasury go to organizations working to protect the environment via the Orca Impact Fund.
Soon Orca will be making the first ever donation through the Impact Fund. Shortly after the launch of the ORCA token, the first ever “proto-governance” vote was held to determine which of two organizations should receive the donation. The worthy recipient chosen by the Orca community was Ocean Conservancy!
Since then, Orca has been working closely with Ocean Conservancy to determine which of their current initiatives will benefit the most from the additional funds.
To support a smooth donation process, the funds donated shall be converted to USDC in advance of the donation. (As you can imagine, communicating with potential recipients can be challenging when the proposed value of the donation is constantly fluctuating!) Going forward, tokens allocated to the Impact Fund will be converted to stables on a quarterly basis.
If there’s a values-aligned charity that you think should be a future recipient of the Impact Fund, don’t hesitate to say in the #impact-fund channel of the Orca Discord!
To learn more about the Impact Fund, check out Episode 2 of our podcast, OrcaPod, where co-founders Ori and Yutaro discuss its origins!