Finances & Tokenomics
Last updated
Last updated
Initial funding of the Lizard Labs will be raised through Pre-Seed and Seed Funding rounds based on issuance of Lizcoin ($LIZ). The total $LIZ token supply will be 10B max supply. Details for the token allocation and vesting are as follows:
The Pre-Seed token sale aims to fund rapid growth for Lizard DAO, enabling the addition of top industry talent to the team. A total of 1B $LIZ at $0.0005 USD each was offered during the Pre-Seed round in 2023. An allocation of 300M Liz ($150K) was made available to Ethlizards holders in May 2023 via a decentralized Aelin pool with caps of $200/Genesis NFT and $100/Venture Ethlizards. The remainder of the allocation was for strategic partners of the DAO.
The Seed token sale will support new hires, mid-term product acquisition and development, and partnership realization. A total of 2B $LIZ was offered for the seed round at $0.002 USD each. Existing Genesis and Venture Ethlizards holders were able to participate in December 2023 via the basedVC protocol at $5,000/Genesis and $2,500/Venture NFT. The Seed round closed in May 2024.
A small KOL/Strategic round is being offered in Q3 2024 at $0.0025 USD each to allow the onboarding of influencers, content creators, and other influential individuals across Web3 gaming to Lizard Labs.
A public sale of tokens via multiple launchpads is planned for late Q3/early Q4 2024 at a token price of $0.004. More details will be forthcoming when the launchpads are confirmed.
In appreciation of the existing community's foundational role in the Ethlizards expansion, current holders are eligible for an airdrop of additional $LIZ tokens. Allocations will be distributed per NFT in three separate batches. The first claim will be at TGE for 152,000 $LIZ for each Genesis NFT and 76,000 $LIZ for each Venture NFT. The second and third claims will each be for approximately half that amount of tokens but only staked Ethlizards NFTs will be eligible for the token claim.
This gesture recognizes and rewards the contributions of the early supporters who have helped shape the DAO's growth and success.
To onboard Web3 Gaming minded individuals into the Lizard Labs ecosystem, dozens of partner communities will be eligible for claims of Public Airdrop $LIZ tokens. Calculations will be performed on gaming history, wallet activity, NFT and token ownership and similar activities to assign airdrop values to gamers and investors.
The core utility behind $LIZ includes:
Yield Loyalty Rewards allows stakers that participate in the ecosystem to earn points for yield farming rewards.
Play-4-Airdrop gives $LIZ holders the chance to play games and/or participate in bounties to be eligible for partner tokens and NFTs.
Governance Voting is the native token of the Lizard Labs Gaming Sub-DAO.
Gameplay and Ecosystem Purchases as some items will only be purchasable with Lizcoin.
Revenue Loyalty Rewards starting at the 2-year mark after the $LIZ token launch.
Members can participate in yield farming by actively participating in the DAO's ecosystem to earn Loyalty Points and staking $LIZ tokens. Team, Pre-Seed, Seed, KOL round tokens are ineligible for yield farming until unlocked.
Loyalty Points will allow lootboxes to be obtained with chances of both $LIZ token rewards and rewards from partner studios.
$LIZ can be staked for yield farming rewards during the first three years after issuance. The distribution amount will decrease over time, with roughly 5.5% of rewards in year 1, 4% in year 2, and 3% in year 3. Some targeted minimum quantity of Loyalty Points will be needed to unlock yield farming rewards.
Starting approximately two years after the token launch, the DAO Revenue Rewards Program will be introduced to incentivize active involvement in the project's growth and development. With the end of yield farming, this program aims to share revenue from the protocol with members who 1) Stake $LIZ and 2) Actively participate in the DAO's ecosystem to earn Loyalty Points.
The following revenue streams will be utilized to fund future operational development by Lizard DAO for the ecosystem:
Gaming Revenue (such as Battle in the Beyond platform fees and Lizard League purchases)
IP Sharing Revenue
Secondary sales of NFTs (such as Elemental Lizards, in-game tickets, and more) used for gamification across the community and partnership pillars
Lizard Shop Sales - Primary sales of utility/gaming NFTs, speed-ups, merchandise, etc.
Partnership fees and revenue from B2B activities performed by the Green Room
More to come...
Both Yield Rewards and Revenue Rewards require the user to participate to earn Loyalty Points and stake $LIZ. Qualifying activities for Loyalty Points may include:
Voting in DAO governance
Promoting social media channels
Creating Content (YouTube, Twitter, TikTok, Twitch, Podcast, etc.)
QA testing for new products
Participating in Bug Bounty quests
Crafting Memes
Submitting detailed project analyses and reports
Engaging in Ethlizards and partner gameplay
Engaging in esports tournaments representing the Lizards
Translating communications into different languages
Validating the participation activities of others
Discord moderation
Lizard Contributor roles like liaisons and librarians
Core Contributor roles
Other governance and ecosystem activities
From Jan 1, 2024, Lizard Labs took on the shared sub-DAOs' operational costs using revenue from the Lizcoin capital raises.
The Lizard Labs treasury will cover all Gaming Sub-DAO and general Lizard DAO operational costs.
The Portfolio Sub-DAO can optionally use funds from its treasury for upgrades and expansion (costs beyond the shared sub-DAOs' scope) including Portfolio Council administration support, analyst, tools and infrastructure improvements.
Lizard Labs will provide the core contributor support to execute upgrades across all Sub-DAOs.
All Genesis and Venture Ethlizards royalties and earnings from fund liquidations will be allocated in alignment according to the distribution process described below. Responsibility breakdown is as follows:
The Portfolio sub-DAO's treasury management earns funds from royalties earned on the secondary market from the Genesis and Venture Ethlizards’ collections as well as Lizard Launchpad revenue. The allocation of these funds is the responsibility of the Portfolio Council to deploy to high-quality projects in the sector. When any of these funds are liquidated, the current distribution of funds is as follows:
40% directly to staked Genesis and V2 holders who have participated in the Ethlizards ecosystem and DAO governance
40% to treasury for more early-stage portfolio positions
1% to each of 5 investment council members that made the initial funding decision
15% to core team
