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PICA Tokenomics

Total supply and genesis token distribution

The total supply of PICA is 10 billion tokens. PICA Token distribution is intended as follows:


AllocationAmountPercentage (%)Description
Founders, Early Team Members and Current Contributors1,365,000,00013,65%13.65% of PICA are earmarked for distribution to founders, early team members, and current key team members along a 2-year linear vesting schedule with an initial 6-month lock.
Key Partners & Advisors635,000,0006,35%6.35% of PICA are intended to be distributed to key strategic partners and advisors along a 2-year linear vesting schedule with a 6 month lock. This will form part of the Team allocation.
Treasury1,800,297,200~18%Approximately 18% of PICA’s supply is allocated to account for the long-term sustainability of the Picasso Network. Picasso Network treasury receives transaction fees and is governed by the Picasso General Council, which is intended to later be governed by PICA token holders. 75% of spent network fees will automatically flow into this fund (the remaining 25% of spent fees are intended to be distributed to collators).**
Future Personnel Incentives (part of Treasury)200,000,000~2%2% of PICA is intended to be reserved for future personnel incentives. Future issues from this pool will be subject to a 4-year vesting schedule from network launch or grant date (whichever is later) with a 1-year cliff and monthly vesting thereafter.**
Crowdloan3,000,000,00030%30% of Picasso token supply will be allocated to crowdloan stakers for the parachain lease slot dated November 30, 2021 - October 31, 2022. The crowdloan stakers will earn 50% of their PICA upon TGE, with the remainder being released linearly within 48 weeks. The full balance can be used to participate in governance and other activities besides transferring. Any unclaimed rewards from the crowdloan will be transferred to the Picasso treasury three months after the crowdloan vesting period is concluded via a treasury proposal.
Ecosystem Incentives1,000,000,00010%10% of PICA’s total token supply will be released from the protocol as rewards and incentives for a number of actions involved in the protocol. These are programmatic incentives to bootstrap network growth such as running an oracle on Apollo.
Infrastructure Round (part of Ecosystem Incentives)78,282,699.80~0.78%Participants in the Infrastructure Round (i.e., those who will operate collators and oracles) will have their PICA locked for up to 3 months before they are released for staking for a minimum target period of 6 months.
Series A Token Purchasers699,702,8007%This portion of PICA tokens is allocated to Series A token purchasers, with a 3 month lock-up plus 2 years vesting.
Liquidity Programs1,500,000,00015%15% of the total token supply will be released as rewards for participants in Liquidity Programs on Picasso.


**Estimated allocation and length of program is subject to change. Specific Disclaimers and Disclosures for the PICA Token