Event Horizon brings novel tokenomics to the DeFi and DAO space. Event Horizon has two primary tokens, both subject to a locking mechanism to align incentivez between all participants in the Event Horizon community for the long-term health of the protocol.
HVAX is the token that's minted as yield is collected into the treasury. This is 100% community owned, minted with a full backing of diversified tokens from across the space, and with a limitless supply. You can lock this token to receive veHVAX.
veHVAX (vote escrowed HVAX) is the token used to vote on Event Horizon proposals, both internal and external. The amount of veHVAX you own linearly decays until the unlock period that the locker selected elapses giving you access to your initial staked HVAX or mHVAX.
mHVAX (multiplied HVAX) is an uncollateralized token but with a vote multiple. If the vote multiple is 5x, then locking 1 mHVAX gives you 5x the amount of veHVAX that staking 1 HVAX would yield, assuming the same locking period. This token is distributed to team, investors and foundation with a capped supply of 20m mHVAX.
HVAX is 100% community owned.
mHVAX's distribution is as follows.
The beautiful thing about our tokenomics structure is that since the community portion grows with protocol TVL and treasury, while the team, investor, and foundation mHVAX is capped, there is a special cross over point.
Once the Event Horizon TVL and treasury grows past a certain point, and 100m HVAX tokens are minted (assuming a 5x mHVAX multiple), the collective voting power of the community becomes greater than the collective voting power of the team, investors and foundation. In other words, the larger the protocol grows, the more decetnralized it becomes.