The engine that drives 2key network
2KEY Contract address 0xe48972fcd82a274411c01834e2f031d4377fa2c0
2KEY tokens are the blood that flows and drives the 2key network. It represents a unit of value and a medium of exchange native to the 2key network that can be used in many ways such as
2KEYs are the default compensation reward for 2key SmartLinks referrers. When a referral chain leads to a conversion (purchase, booking, download, sign-in, donation …), each person in that referral chain receives their share of the reward as defined in the smart contract. It is used to score both contractor and referrers’ reputation or to pay network integrators that provide services for a fee.
2KEYs referral incentivizing rewards are designed for exponential organic growth.
2KEYs deposited for referral campaign are pre-bought and locked-up until earned by referrer.
2KEYs staked by users to boost reputation
are pulled out of circulation.
2KEYs earned by referrers are locked up until the campaign ends.
A tariff is charged, in 2KEY tokens, from integrator payments and moderator fees. These tokens re-supply the community pool once every 10 years.
Admin Contract charges a up to 5% fee on conversions.
Exchange Contract places a spread on its automatic DAI, 2KEY, or volatile asset purchases and sales.
A strong utility token needs all three to grow into a strong and stable digital economy.
Each and every atomic conversion on the 2key Network, in each and every campaign, contributes to an internal token circulation mechanism managed by the 2key contracts, driving:
A 2KEY campaign reward budget is bought to cover referral payments.
The 2KEY campaign reward budget is hedged against DAI to maintain the referral rewards US$ value.
Earned 2KEY referral rewards are distributed to the referrers of the referral chain leading to a conversion.
The referral remunerations are kept on the balances of the referrers within the 2key campaign contracts until the campaign ends.
The success rate of users actions impacts their reputation which qualifies users for network-level participation and reputation remuneration.
Additionally, 2key incorporates various game theory mechanics, user-driven locks, Protocol-driven locks, and organic demand structures to ensure 2KEY tokens have REAL and organic volume and usage outside of mere cryptocurrency exchanges.
Seed round token sale was closed in Q2 2018 at an average cost per token of $0.042 USD.
Seed round participants receive 10% of the token on the first day after the TGE. 90 days after the TGE, the remaining 90% begin unlocking from a smart contract over a 40 week period, 2.25% per week.
Private round was conducted between Q3 and Q4 of 2019. Tokens are sold at an average price of $0.046 USD.
The lockup mechanism for private sale purchasers is identical to the seed round purchasers.
Public sale tokens are sold at a price of $0.06 USD.
Team tokens are given to 2key team members for their work on the project in the past, present, and future.
Tokens are locked for 1 year and are then released in equal monthly distributions over 2 years' time. The total period for the distribution of all tokens is 3 years.
These tokens will remain as a future token pool to be used as incentivising growth for current and future 2key team members and community developers, and also for businesses and organizations to use 2key Protocol as a white-label solution.
Tokens are locked for 2 years and are then released in equal monthly distributions over 2 years’ time.
Tokens reserved for 2key advisors and partners.
Locked for the first 3 months after TGE and are vested for 1 year in equal monthly distributions.
Social Mining tokens are used to grow the global ecosystem of community supporters. These tokens incentivize meetups, localized communities, and community-sourced project growth.
All tokens are distributed by the end of the first 12 months.
Reputation Mining tokens are given to the network users based on their accumulated reputation and by their activation in successfully sharing 2key smart Links to targeted audiences, thereby driving a high rate of conversions, and for their part in growing the network with users and contractors. These tokens incentivize quality sharing, early adoption, and network awareness. and growth.
These tokens will be distributed over a 10 year period, up to 1/10 of the total amount per year, starting 6 months from TDE.
The Multi-Party-State Network is an innovation by the 2key team which allows the Network and any other dApp to operate scalable and modifiable smart contracts on a decentralized off-chain network of browser nodes. Read more about it on the 2key Labs page.
MPSN tokens are locked for the first 2 years and then mined by users; the token rewards incentivize users to maintain the browser layer-2 Network. Those tokens go into circulation only if MPSN is successfully built and then used for incentivizing the network maintenance by participants for the lifetime of the network.
Long term token supply for funding the future R&D and financing the development of the 2key Network and 2key Protocol. It is held by the 2key admin contract, which can first be unlocked after 2 years by a multi-sig DAO mechanism which reflects the board of directors of the legal entity issuing the tokens, these tokens are designed to be used for future R&D and financing of the development of the 2key Network.
Tokens unlock in equal parts after 2, 3, 4, 5, and 6 years after the TGE.
Every time a conversion occurs, or demand for 2KEYs rise within the network contracts, it creates an automatic real-time demand from the 2key exchange contract that holds a steady balance of 2KEYs and other tokens such as ETH and DAI. This contract is connected to Bancor, which is the first Dex to provide the required liquidity pool to resupply any missing 2KEYS in there.
No lockup; This pool of tokens keeps a constant amount within the exchange contract always.
Tokens allocated for DEXs liquidity contracts.
Tokens allocated for market-making purposes for 2key official market makers.
Detailed 2KEY token full distribution forecasts and unlocks can be found here
Learn about the different uses of the 2KEY token, how it is engineered within the network's economy, Its distributed plan for the next few years, and how its use forecasts and market share look, in 2key's various in-depth publications.