MTT Tokenomics
I. THE MTT FOUNDATION
The MTT Foundation began its preparations in August 2023, choosing Lausanne, Switzerland as its registration location. Its ultimate vision is to promote MTT (Multi-Table Tournament) sports to become an Olympic event, elevating MTT Sports to the status of international premier competitions such as PGA and F1, thereby allowing all of humanity to experience the unique charm of MTT Sports.
The MTT Foundation is a non-profit organization that serves as the precursor to the MTT DAO (Decentralized Autonomous Organization). It is dedicated to establishing a decentralized governance structure and advancing the MTT ecosystem. The foundation aims to bring together MTT Sports enthusiasts from around the world, enabling decentralized governance and decision-making through MTT token holdings, and collectively developing MTT Sports into a world-class competitive brand.
II. THE MTT TOKEN
The MTT Token is a Utility Token issued by the MTT Foundation on the Ethereum mainnet, based on the ERC-20 protocol. It has a maximum supply of 2.1 billion tokens, with the contract address: 0x0FC223994e0de0a0F952D775Ef00B0389e60a238. The primary purpose of MTT tokens is to reward contributors to the MTT Sports ecosystem and all participants in MTT Sports events.
MTT Token is the sole token used within the MTT ecosystem, employing a single-token model. This system ensures more intuitive and clear token usage and management, facilitating user understanding of its utility, and enhancing platform transparency and user trust. As all economic activities are conducted through MTT tokens, it avoids potential value dispersion issues that may arise in multi-token systems, thus ensuring value consistency of the token within the ecosystem.
III. MTT TOKENOMICS
1) Token Allocation Map
- Tournament Rewards: 40%, allocated for various event rewards on the MTT Sports Platform, which regular players can earn by participating in MTT Sports events.
- Validators Mining: 10%, used to incentivize MTT Network validators who participate in network security and block production through the consensus mechanism.
- Reserved: 15%, managed by the MTT Foundation, it is primarily used for future event funding and hosting larger-scale MTT tournaments.
- Treasury: 5%, managed by the MTT Foundation to support the development of the MTT ecosystem and community incentives. Additionally, a majority of the revenue from MTT Sports will enter the treasury, to be allocated uniformly through DAO voting.
- Team: 15%, allocated to the core team and developers to reward their ongoing contributions to the project. Team tokens will have a vesting period followed by linear release to ensure long-term commitment.
- Investors: 15%, allocated to investors supporting the project's early development, including seed investors and private sale participants. Similarly, these tokens are subject to lock-up periods and release mechanisms.
Figure 1. Token Allocation Map
2) MTT Release Schedule
Note: TGE stands for Token Generation Event. The infinity symbol (∞) in the Validators Mining row indicates an indefinite or ongoing linear unlock period.
3) MTT Unlock Schedule
The MTT token unlock will be strictly executed according to the content in section II. Community members can monitor this process using the wallet addresses that will be published when the mainnet officially launches. The table below illustrates the cumulative unlock release curve for MTT tokens over the 60 months following their issuance.
Figure 2. MTT Unlock Schedule
IV. HOW TO OBTAIN MTT TOKENS
Users can acquire MTT tokens through four methods: Tournament Rewards, Friend Invitations, Validator Mining, and Staking.
1) Tournament Rewards
Users can earn varying amounts of MTT Tokens by participating in various free tournaments hosted by MTT Sports, competing against other players, and securing rankings. This is the primary method of obtaining MTT Tokens.
Players can also establish their own CLUBs to host tournaments and earn participation fees.
2) Invitations and Promotion
Users can invite friends to participate in MTT Sports by sharing referral links or promoting MTT Sports on social media. When invited users earn rewards in tournaments, the platform will provide the inviter with an additional percentage of rewards. Successful promoters can acquire more MTT Tokens through these referral activities.
3) Mining
MTT Network is a decentralized blockchain based on the Tendermint Proof of Stake (PoS) consensus mechanism. Users can participate in block validation by setting up MTT Network nodes or by delegating their MTT Tokens to nodes for validation. The global distribution of nodes enhances the decentralization and security of MTT Network.
All validators can share a total of 210,000,000 MTT Tokens, plus the GAS fees generated from all MTT Network transactions. Mining rewards officially begin on January 1, 2025, with halving occurring every 4 years. In the first four years, approximately 26,250,000 MTT tokens will be produced annually. For detailed release rules, refer to the MTT Network whitepaper.
V. MTT IN TREASURY
a) Revenue Sources
Aside from the initial token allocation (initially accounting for 5%), the primary source of treasury funds comes from all expenditures made by players within MTT Sports.
b) Distribution Mechanism
The allocation of treasury revenue is determined by DAO voting and is mainly used for the following purposes:
- Tournament Promotion: Treasury funds will be used to promote competitions on the MTT Sports Platform and advance ecosystem development.
- Contributors: As rewards for their significant contributions to the development of the MTT Network and the MTT Sports ecosystem.
- Miners: When the GAS fees generated by MTT Network are insufficient to cover miners' costs, funds may be allocated to miners based on DAO voting results.
- Staking: The treasury regularly distributes dividends to token stakers.
- Token Burning: Used to implement a token-burning mechanism, reducing the circulating supply of MTT tokens to support token value stability and growth.
GLOSSARY
- MTT (Multi-Table Tournament)
- A poker tournament format where players are distributed across multiple tables. As the tournament progresses, players are moved between tables until the final table is reached.
- Validator
- Selected from Candidates, Validators are responsible for signing messages in the Tendermint consensus process.
- Delegator
- An individual who delegates their MTT tokens to a Validator (or Candidate) and shares in the associated rewards.
- Tendermint
- A consensus algorithm used in Cosmos-based blockchains, providing Byzantine Fault Tolerance (BFT) to ensure network security and consensus.
- Cliff
- A vesting mechanism where a portion of locked tokens is released all at once after a set lock-up period.
- PoS (Proof of Stake)
- A consensus mechanism in blockchain where validators are selected based on the number of tokens they stake, promoting energy efficiency compared to Proof of Work (PoW).
- Governance
- The process of making decisions on a blockchain, often through voting by token holders or participants in the network.
- Linear Unlock
- A vesting schedule where tokens are gradually released at a consistent rate over time.
- TGE (Token Generation Event)
- The event where tokens are created and initially distributed, marking the official launch of a token.
- Liquidity Reserved
- Tokens set aside to ensure sufficient liquidity for trading on exchanges, preventing sharp price changes.
- PGA (Professional Golfers' Association)
- The governing body for professional golf, organizing major golf tournaments worldwide.
- F1 (Formula 1)
- The highest class of international auto racing, known for its prestigious global tournaments.
REFERENCES
- Multi-Table Tournaments: A Comprehensive Guide (cardschat.com)
- What is a Multi-Table Tournament? (pokernews.com)
- Fair Game: Producing gambling research (gold.ac.uk)
- Proof of Stake (PoS) vs. Proof of Work (PoW) (academy.binance.com)
- ERC-20 Token Standard (ethereum.org)
- Cosmos SDK Documentation (cosmos.network)
DISCLAIMERS
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In some jurisdictions, it may be illegal for certain individuals or categories of individuals to view this document. Those wishing to access this document must first confirm that they are not subject to any laws or regulations that prohibit or restrict them from doing so. Unless permitted by applicable laws, no offering of the tokens mentioned in this document (the "Tokens") should be made, nor should any documents be sent, directly or indirectly, where participation in the token sale is prohibited. MTT Foundation shall not be responsible for individuals accessing this document from territories where such access is illegal. Such individuals do so at their own risk.
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This document shall not be relied upon in entering any contract or forming the basis of any investment decision. Any agreements between MTT Foundation and you shall be governed by a separate document for the sale of MTT tokens ("Sale Document"). In case of any inconsistency between this document and the Sale Document, the Sale Document shall prevail.
f) Regulatory Risks
The regulatory status of cryptographic tokens, including digital currencies and blockchain applications, is unclear or unsettled in many jurisdictions. The publication of this document does not imply compliance with any relevant laws, regulations, or rules. No regulatory authority has examined or approved this document. Changes in laws, regulations, or financial institutions' decisions may adversely affect the ability of any relevant entity to function as intended.
g) Other Disclaimers
This document contains information about MTT Foundation but does not represent the complete content of MTT Foundation. The content is subject to change based on relevant laws, business conditions, industry outlook, and management judgment. There may be changes in political, social, economic conditions, or market conditions, affecting the commercial viability of the blockchain system and Tokens. References to third-party websites or information sources are not verified for accuracy, completeness, or timeliness, and no warranties are made regarding them.