The New Tokenomics

Embracing the visionary future, Bytom is strategically shifting to a new economic model and governance mechanism. The previous public chain doesn’t align well with the evolving ecosystem. Instead, our redesigned economic model and governance structure are crafted to ensure our tokenomics directly correlate with strategic goals.

1. Transition to Bytom DAO

The Bytom Blockchain is evolving into Bytom DAO, marking a significant transition from the traditional public chain token model to a decentralized application (DApp) token model.

2. Fixed Supply of Bytom DAO Tokens

There will be no further issuance of Bytom DAO Tokens (BTM).

3. Strategic Usage of BTM

The existing BTM will be used to support ecosystem development and facilitate application payments.

4. Shift to DAO Governance

Bytom is adopting a decentralized autonomous organization (DAO) model, putting the community at the center. This empowers them with control over proposals, decisions, and fund management.

To boost our strategic shift, the Bytom Foundation is initiating a comprehensive community DAO-ization process. Anchored in community-driven governance, the aim is to establish a sustainable ecosystem. The founding team will transfer all rights to a Temporary Autonomous Committee(TAC), gradually devolving control to the community. This includes stewardship of the foundation, project codes, documentation, community resources, and operational accounts.

All tokens (about 20%) held by the Bytom Foundation will be allocated to the DAO treasury for community management. As a non-profit organization, all investments and revenues are funneled into DAO treasury, which will also serve as the funding source for community operational expenses. While the founding team will cease to lead the daily operations, we will continue to support community initiatives and contribute to our new vision.

This transformation is anticipated to attract a diverse and international talent pool. With a focus on research and regional compliance policies, we envision the emergence of a professional public welfare foundation dedicated to advancing technology in the Web3 and AI industry.