[{"data":1,"prerenderedAt":2294},["ShallowReactive",2],{"blog-best-token-vesting-platforms":3,"related-best-token-vesting-platforms":894},{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":8,"description":9,"date":10,"author":11,"category":12,"tags":13,"keywords":18,"image":24,"readTime":25,"body":26,"_type":888,"_id":889,"_source":890,"_file":891,"_stem":892,"_extension":893},"/blog/best-token-vesting-platforms","blog",false,"","Best Token Vesting Platforms: 8 Options for Locking Team and Investor Tokens","Best token vesting platforms compared: Sablier, Hedgey, Streamflow, Magna, Toku, Team Finance, UNCX and custom contracts, with selection criteria for token teams.","2026-10-26","Fibonacci Capital","Tokenomics",[14,15,16,17],"token vesting","tokenomics","token unlocks","smart contracts",[19,20,21,22,23],"best token vesting platforms","token vesting platform","token vesting tools","on-chain token vesting","token lockup platform","/assets/images/blog/best-token-vesting-platforms.jpg","9 min read",{"type":27,"children":28,"toc":872},"root",[29,37,51,58,63,129,134,140,145,179,185,190,220,226,231,261,267,272,302,308,313,343,349,354,384,390,395,433,439,444,474,480,697,703,756,761,767,828,841,847,852],{"type":30,"tag":31,"props":32,"children":33},"element","p",{},[34],{"type":35,"value":36},"text","The best token vesting platform for your project depends on three things: which chain your token lives on, who the recipients are (investors, team members or a community claim), and how much operational and compliance support you need. For on-chain streaming on EVM chains, Sablier and Hedgey are common choices. For Solana, Streamflow is one of the most widely used options. For teams that want a managed platform covering cap table, claims and reporting, Magna is a frequent pick, and Toku focuses on employee token grants and payroll compliance. Team Finance and UNCX combine vesting with liquidity locks, and an audited custom contract remains a valid option for teams with specific needs. Below are the criteria we used and what each option is best suited for.",{"type":30,"tag":31,"props":38,"children":39},{},[40,42,49],{"type":35,"value":41},"Vesting design itself, meaning cliffs, durations and allocation, is covered in our guide to ",{"type":30,"tag":43,"props":44,"children":46},"a",{"href":45},"/blog/token-vesting-schedules-explained",[47],{"type":35,"value":48},"token vesting schedules",{"type":35,"value":50},". 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Vesting contracts can hold a large share of your supply, so this matters more than features.",{"type":30,"tag":68,"props":120,"children":121},{},[122,127],{"type":30,"tag":72,"props":123,"children":124},{},[125],{"type":35,"value":126},"Operational fit.",{"type":35,"value":128}," Dashboard, recipient claim portal, reporting, multisig support, and support for tax or payroll where employees are involved.",{"type":30,"tag":31,"props":130,"children":131},{},[132],{"type":35,"value":133},"We do not list fees: pricing models change and differ by deal size and chain. Confirm current pricing, supported chains and audit status directly with each provider before committing.",{"type":30,"tag":52,"props":135,"children":137},{"id":136},"_1-sablier",[138],{"type":35,"value":139},"1. Sablier",{"type":30,"tag":31,"props":141,"children":142},{},[143],{"type":35,"value":144},"Sablier is a token streaming protocol that releases tokens continuously, or in custom curves, from a smart contract. 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Our guide on ",{"type":30,"tag":43,"props":821,"children":823},{"href":822},"/blog/token-unlocks-managing-sell-pressure",[824],{"type":35,"value":825},"managing token unlocks",{"type":35,"value":827}," explains why predictability matters.",{"type":30,"tag":31,"props":829,"children":830},{},[831,833,839],{"type":35,"value":832},"If you are still deciding how to fund the round that creates these allocations, our companion article on ",{"type":30,"tag":43,"props":834,"children":836},{"href":835},"/blog/ecosystem-grants-vs-vc-funding-token-projects",[837],{"type":35,"value":838},"ecosystem grants vs VC funding",{"type":35,"value":840}," looks at how each route shapes your future unlock calendar.",{"type":30,"tag":52,"props":842,"children":844},{"id":843},"vesting-tools-enforce-the-schedule-liquidity-absorbs-it",[845],{"type":35,"value":846},"Vesting Tools Enforce the Schedule; Liquidity Absorbs It",{"type":30,"tag":31,"props":848,"children":849},{},[850],{"type":35,"value":851},"A vesting platform guarantees that tokens unlock when promised. It does not decide whether the market can absorb them. That depends on order book depth, float and the trading environment at each unlock.",{"type":30,"tag":31,"props":853,"children":854},{},[855,857,863,865,870],{"type":35,"value":856},"Fibonacci Capital works with token teams before TGE to model unlock calendars against expected liquidity and to provide market making that keeps books stable through cliffs and large releases. If you are setting up vesting ahead of launch, our ",{"type":30,"tag":43,"props":858,"children":860},{"href":859},"/pretge",[861],{"type":35,"value":862},"pre-TGE programme",{"type":35,"value":864}," covers that planning. ",{"type":30,"tag":43,"props":866,"children":867},{"href":859},[868],{"type":35,"value":869},"Get in touch",{"type":35,"value":871}," to review your schedule with us.",{"title":7,"searchDepth":873,"depth":873,"links":874},2,[875,876,877,878,879,880,881,882,883,884,885,886,887],{"id":54,"depth":873,"text":57},{"id":136,"depth":873,"text":139},{"id":181,"depth":873,"text":184},{"id":222,"depth":873,"text":225},{"id":263,"depth":873,"text":266},{"id":304,"depth":873,"text":307},{"id":345,"depth":873,"text":348},{"id":386,"depth":873,"text":389},{"id":435,"depth":873,"text":438},{"id":476,"depth":873,"text":479},{"id":699,"depth":873,"text":702},{"id":763,"depth":873,"text":766},{"id":843,"depth":873,"text":846},"markdown","content:blog:best-token-vesting-platforms.md","content","blog/best-token-vesting-platforms.md","blog/best-token-vesting-platforms","md",[895,1335,1901],{"_path":896,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":897,"description":898,"date":899,"author":11,"category":12,"tags":900,"keywords":904,"image":910,"readTime":25,"body":911,"_type":888,"_id":1332,"_source":890,"_file":1333,"_stem":1334,"_extension":893},"/blog/governance-token-design-mistakes","Governance Token Design: 8 Mistakes Token Projects Make (and How to Fix Them)","Governance token design mistakes that weaken DAOs and token value: low turnout, whale capture, flash-loan votes, treasury risk and more, each with a practical fix.","2026-10-25",[901,902,15,903],"governance tokens","dao","treasury",[905,906,907,908,909],"governance token design","governance token","dao governance mistakes","on-chain governance token","governance token voting","/assets/images/blog/governance-token-design-mistakes.jpg",{"type":27,"children":912,"toc":1320},[913,918,924,929,947,953,958,967,973,978,995,1001,1006,1015,1021,1026,1043,1049,1062,1071,1077,1082,1091,1097,1102,1111,1139,1145,1297,1303,1308],{"type":30,"tag":31,"props":914,"children":915},{},[916],{"type":35,"value":917},"Governance token design is the set of choices that decide who can vote, on what, with how much weight, and how decisions are executed. Most governance problems in crypto do not come from bad actors; they come from design shortcuts taken at launch: a token whose only use is voting, quorum thresholds no one can reach, voting power concentrated in a few wallets, or a treasury that can be drained by a single proposal. The eight mistakes below are the ones we see most often in token projects, each with a fix you can apply before or after launch.",{"type":30,"tag":52,"props":919,"children":921},{"id":920},"mistake-1-governance-as-the-only-utility",[922],{"type":35,"value":923},"Mistake 1: Governance as the Only Utility",{"type":30,"tag":31,"props":925,"children":926},{},[927],{"type":35,"value":928},"Many tokens launch with \"governance\" as their entire value proposition. The problem is that most holders do not want to govern. They want exposure to a protocol's success. If voting is the only reason to hold, the token has no link to the protocol's revenue or usage, and holders behave accordingly: they sell into unlocks and do not vote.",{"type":30,"tag":31,"props":930,"children":931},{},[932,937,939,945],{"type":30,"tag":72,"props":933,"children":934},{},[935],{"type":35,"value":936},"The fix:",{"type":35,"value":938}," Treat governance as one right among several, not the reason the token exists. Tie the token to the protocol through mechanisms such as fee sharing (where legally appropriate), staking for security or service access, or protocol-owned functions that require the token. We cover the options in ",{"type":30,"tag":43,"props":940,"children":942},{"href":941},"/blog/token-utility-value-accrual",[943],{"type":35,"value":944},"token utility and value accrual",{"type":35,"value":946},". Get legal advice before adding anything that resembles a profit right, because it affects how the token may be classified.",{"type":30,"tag":52,"props":948,"children":950},{"id":949},"mistake-2-quorum-thresholds-set-without-looking-at-real-turnout",[951],{"type":35,"value":952},"Mistake 2: Quorum Thresholds Set Without Looking at Real Turnout",{"type":30,"tag":31,"props":954,"children":955},{},[956],{"type":35,"value":957},"Teams often set quorum as a round percentage of total supply. Then they discover that a large share of supply sits on exchanges, in vesting contracts, or with holders who never vote. Proposals fail not because people disagree, but because not enough tokens show up.",{"type":30,"tag":31,"props":959,"children":960},{},[961,965],{"type":30,"tag":72,"props":962,"children":963},{},[964],{"type":35,"value":936},{"type":35,"value":966}," Base quorum on supply that can realistically vote, and review it after the first few proposals. Exclude locked, unvested and exchange-held tokens from your planning assumptions. Consider a lower quorum combined with a longer voting period and a timelock, rather than a high quorum that blocks everything. Publish turnout figures after each vote so the community can see whether the thresholds work.",{"type":30,"tag":52,"props":968,"children":970},{"id":969},"mistake-3-ignoring-voting-power-concentration",[971],{"type":35,"value":972},"Mistake 3: Ignoring Voting Power Concentration",{"type":30,"tag":31,"props":974,"children":975},{},[976],{"type":35,"value":977},"If the team, early investors and a handful of large holders control most of the voting supply, governance is a formality. Outsiders notice. Worse, a concentrated cap table invites a governance attack if one large holder decides to sell their position to someone with different intentions.",{"type":30,"tag":31,"props":979,"children":980},{},[981,985,987,993],{"type":30,"tag":72,"props":982,"children":983},{},[984],{"type":35,"value":936},{"type":35,"value":986}," Map voting power at launch, including unvested allocations if they carry votes. Decide explicitly whether unvested team and investor tokens can vote; many projects choose not to let them, or only after a period. The allocation itself matters most, so design it with governance in mind; see ",{"type":30,"tag":43,"props":988,"children":990},{"href":989},"/blog/token-allocation-breakdown-team-investors-community",[991],{"type":35,"value":992},"token allocation breakdown",{"type":35,"value":994},". Delegation programmes that hand voting power to active, accountable delegates can also improve participation without changing ownership.",{"type":30,"tag":52,"props":996,"children":998},{"id":997},"mistake-4-snapshot-free-voting-that-invites-flash-loan-attacks",[999],{"type":35,"value":1000},"Mistake 4: Snapshot-Free Voting That Invites Flash-Loan Attacks",{"type":30,"tag":31,"props":1002,"children":1003},{},[1004],{"type":35,"value":1005},"If voting power is measured at the moment a vote is cast, an attacker can borrow tokens, vote and return them in the same transaction or block. Several DeFi protocols have suffered governance exploits along these lines.",{"type":30,"tag":31,"props":1007,"children":1008},{},[1009,1013],{"type":30,"tag":72,"props":1010,"children":1011},{},[1012],{"type":35,"value":936},{"type":35,"value":1014}," Measure voting power at a block snapshot taken before the proposal goes live, using a token with checkpointed balances. Add a delay between proposal creation and voting, and a timelock between a successful vote and execution, so the community has time to react to anything malicious. These are standard patterns in widely used governance frameworks; there is no reason to launch without them.",{"type":30,"tag":52,"props":1016,"children":1018},{"id":1017},"mistake-5-giving-governance-unlimited-power-over-the-treasury",[1019],{"type":35,"value":1020},"Mistake 5: Giving Governance Unlimited Power Over the Treasury",{"type":30,"tag":31,"props":1022,"children":1023},{},[1024],{"type":35,"value":1025},"A governance contract that can transfer the entire treasury in one proposal is a single point of failure. A malicious proposal that slips through, whether by low turnout, a bought vote or a flash-loan attack, can empty it.",{"type":30,"tag":31,"props":1027,"children":1028},{},[1029,1033,1035,1041],{"type":30,"tag":72,"props":1030,"children":1031},{},[1032],{"type":35,"value":936},{"type":35,"value":1034}," Layer the controls. Put limits on how much a single proposal can move, require larger approvals for larger amounts, use a timelock on execution, and consider a security council or guardian multisig with narrow, published powers, such as the ability to veto or pause but not to spend. Keep operational funds separate from long-term reserves. Our guide to ",{"type":30,"tag":43,"props":1036,"children":1038},{"href":1037},"/blog/treasury-management-crypto-projects",[1039],{"type":35,"value":1040},"treasury management for crypto projects",{"type":35,"value":1042}," covers diversification and runway, which are just as important as access controls.",{"type":30,"tag":52,"props":1044,"children":1046},{"id":1045},"mistake-6-vote-escrow-models-copied-without-the-economics",[1047],{"type":35,"value":1048},"Mistake 6: Vote-Escrow Models Copied Without the Economics",{"type":30,"tag":31,"props":1050,"children":1051},{},[1052,1054,1060],{"type":35,"value":1053},"Vote-escrow designs, where holders lock tokens for longer periods to receive more voting power and often a share of emissions, are popular because they reward long-term holders. Some DEXs use them to let holders direct liquidity incentives; we describe one example in our list of the ",{"type":30,"tag":43,"props":1055,"children":1057},{"href":1056},"/blog/best-dex-to-launch-a-token",[1058],{"type":35,"value":1059},"best DEXs to launch a token",{"type":35,"value":1061},". Copied without care, though, they can create a market in which the main activity is paying voters to direct emissions, and the token's value depends on emissions continuing.",{"type":30,"tag":31,"props":1063,"children":1064},{},[1065,1069],{"type":30,"tag":72,"props":1066,"children":1067},{},[1068],{"type":35,"value":936},{"type":35,"value":1070}," Only adopt vote-escrow if your protocol has something meaningful for voters to direct, such as emissions, fees or parameters. Model what happens when emissions decline. Decide in advance how bribes or vote incentives will be treated and disclosed. If you cannot explain why locking improves the protocol, not just the token chart, it is probably the wrong model.",{"type":30,"tag":52,"props":1072,"children":1074},{"id":1073},"mistake-7-launching-full-on-chain-governance-on-day-one",[1075],{"type":35,"value":1076},"Mistake 7: Launching Full On-Chain Governance on Day One",{"type":30,"tag":31,"props":1078,"children":1079},{},[1080],{"type":35,"value":1081},"Handing every decision to token holders at TGE sounds decentralized, but early protocols need to fix bugs, adjust parameters and respond to incidents quickly. Full on-chain governance from day one either slows that down or tempts the team to work around it, which is worse for credibility.",{"type":30,"tag":31,"props":1083,"children":1084},{},[1085,1089],{"type":30,"tag":72,"props":1086,"children":1087},{},[1088],{"type":35,"value":936},{"type":35,"value":1090}," Publish a progressive decentralization roadmap. Start with off-chain signalling votes and a team or foundation multisig that executes them, with clear commitments about what it will and will not do. Move parameter changes on-chain first, then treasury decisions, then upgrades, as the protocol matures and participation grows. Make the timeline public so the community can hold the team to it. The legal entity that holds this transitional power, often a foundation, matters too, so choose its jurisdiction with counsel.",{"type":30,"tag":52,"props":1092,"children":1094},{"id":1093},"mistake-8-no-process-around-the-vote",[1095],{"type":35,"value":1096},"Mistake 8: No Process Around the Vote",{"type":30,"tag":31,"props":1098,"children":1099},{},[1100],{"type":35,"value":1101},"Governance is not just a voting contract. Without a forum, proposal templates, discussion periods and clear rules on who can submit, votes become surprises, and well-meant proposals arrive half-finished.",{"type":30,"tag":31,"props":1103,"children":1104},{},[1105,1109],{"type":30,"tag":72,"props":1106,"children":1107},{},[1108],{"type":35,"value":936},{"type":35,"value":1110}," Define the process before the first vote:",{"type":30,"tag":146,"props":1112,"children":1113},{},[1114,1119,1124,1129,1134],{"type":30,"tag":68,"props":1115,"children":1116},{},[1117],{"type":35,"value":1118},"A discussion stage on a public forum with a minimum duration",{"type":30,"tag":68,"props":1120,"children":1121},{},[1122],{"type":35,"value":1123},"A proposal template covering motivation, specification, risks and budget",{"type":30,"tag":68,"props":1125,"children":1126},{},[1127],{"type":35,"value":1128},"A minimum token threshold or delegate sponsorship to submit on-chain",{"type":30,"tag":68,"props":1130,"children":1131},{},[1132],{"type":35,"value":1133},"Published voting periods, quorum and approval thresholds",{"type":30,"tag":68,"props":1135,"children":1136},{},[1137],{"type":35,"value":1138},"A record of every decision and its execution status",{"type":30,"tag":52,"props":1140,"children":1142},{"id":1141},"governance-design-checklist",[1143],{"type":35,"value":1144},"Governance Design Checklist",{"type":30,"tag":481,"props":1146,"children":1147},{},[1148,1164],{"type":30,"tag":485,"props":1149,"children":1150},{},[1151],{"type":30,"tag":489,"props":1152,"children":1153},{},[1154,1159],{"type":30,"tag":493,"props":1155,"children":1156},{},[1157],{"type":35,"value":1158},"Area",{"type":30,"tag":493,"props":1160,"children":1161},{},[1162],{"type":35,"value":1163},"Question to answer before 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supply?",{"type":30,"tag":489,"props":1207,"children":1208},{},[1209,1214],{"type":30,"tag":521,"props":1210,"children":1211},{},[1212],{"type":35,"value":1213},"Concentration",{"type":30,"tag":521,"props":1215,"children":1216},{},[1217],{"type":35,"value":1218},"Who controls a majority of votes at launch, and over time?",{"type":30,"tag":489,"props":1220,"children":1221},{},[1222,1227],{"type":30,"tag":521,"props":1223,"children":1224},{},[1225],{"type":35,"value":1226},"Snapshots",{"type":30,"tag":521,"props":1228,"children":1229},{},[1230],{"type":35,"value":1231},"Is voting power measured before the proposal opens?",{"type":30,"tag":489,"props":1233,"children":1234},{},[1235,1240],{"type":30,"tag":521,"props":1236,"children":1237},{},[1238],{"type":35,"value":1239},"Timelocks",{"type":30,"tag":521,"props":1241,"children":1242},{},[1243],{"type":35,"value":1244},"Is there a delay before execution?",{"type":30,"tag":489,"props":1246,"children":1247},{},[1248,1253],{"type":30,"tag":521,"props":1249,"children":1250},{},[1251],{"type":35,"value":1252},"Treasury limits",{"type":30,"tag":521,"props":1254,"children":1255},{},[1256],{"type":35,"value":1257},"What is the maximum a single proposal can move?",{"type":30,"tag":489,"props":1259,"children":1260},{},[1261,1266],{"type":30,"tag":521,"props":1262,"children":1263},{},[1264],{"type":35,"value":1265},"Emergency powers",{"type":30,"tag":521,"props":1267,"children":1268},{},[1269],{"type":35,"value":1270},"Who can pause, under what conditions, and is it published?",{"type":30,"tag":489,"props":1272,"children":1273},{},[1274,1279],{"type":30,"tag":521,"props":1275,"children":1276},{},[1277],{"type":35,"value":1278},"Roadmap",{"type":30,"tag":521,"props":1280,"children":1281},{},[1282],{"type":35,"value":1283},"What moves on-chain, and when?",{"type":30,"tag":489,"props":1285,"children":1286},{},[1287,1292],{"type":30,"tag":521,"props":1288,"children":1289},{},[1290],{"type":35,"value":1291},"Process",{"type":30,"tag":521,"props":1293,"children":1294},{},[1295],{"type":35,"value":1296},"Where are proposals discussed, and what template do they use?",{"type":30,"tag":52,"props":1298,"children":1300},{"id":1299},"why-governance-design-affects-the-market",[1301],{"type":35,"value":1302},"Why Governance Design Affects the Market",{"type":30,"tag":31,"props":1304,"children":1305},{},[1306],{"type":35,"value":1307},"Governance can look like a community matter, separate from price and liquidity. It is not. Exchanges and investors read governance as a risk factor: a treasury that can be drained, a vote controlled by insiders or an unresolved governance dispute all show up in how a token trades. Sound governance gives holders a reason to stay through unlocks and volatile periods, which supports deeper, steadier order books. Fibonacci Capital sees this directly when supporting tokens through launch and the first unlock cycles: projects with credible governance tend to have calmer markets around major decisions.",{"type":30,"tag":31,"props":1309,"children":1310},{},[1311,1313,1319],{"type":35,"value":1312},"If you are designing your token and want to make sure governance and liquidity work together, ",{"type":30,"tag":43,"props":1314,"children":1316},{"href":1315},"/",[1317],{"type":35,"value":1318},"get in touch with Fibonacci Capital",{"type":35,"value":423},{"title":7,"searchDepth":873,"depth":873,"links":1321},[1322,1323,1324,1325,1326,1327,1328,1329,1330,1331],{"id":920,"depth":873,"text":923},{"id":949,"depth":873,"text":952},{"id":969,"depth":873,"text":972},{"id":997,"depth":873,"text":1000},{"id":1017,"depth":873,"text":1020},{"id":1045,"depth":873,"text":1048},{"id":1073,"depth":873,"text":1076},{"id":1093,"depth":873,"text":1096},{"id":1141,"depth":873,"text":1144},{"id":1299,"depth":873,"text":1302},"content:blog:governance-token-design-mistakes.md","blog/governance-token-design-mistakes.md","blog/governance-token-design-mistakes",{"_path":989,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":1336,"description":1337,"date":1338,"author":11,"category":12,"tags":1339,"keywords":1344,"image":1348,"readTime":1349,"body":1350,"_type":888,"_id":1898,"_source":890,"_file":1899,"_stem":1900,"_extension":893},"Token Allocation Breakdown: How to Split Supply Between Team, Investors, Community and Treasury","Token allocation breakdown for founders: how to split supply between team, investors, community, treasury and liquidity, with a decision framework and red flags.","2026-10-20",[15,1340,1341,1342,1343],"token allocation","token distribution","supply design","tge",[1340,992,1345,1346,1347],"token distribution model","how to allocate token supply","team investor community allocation","/assets/images/blog/token-allocation-breakdown-team-investors-community.jpg","8 min read",{"type":27,"children":1351,"toc":1877},[1352,1357,1362,1368,1373,1406,1418,1424,1431,1436,1441,1454,1460,1465,1471,1489,1495,1507,1513,1518,1524,1537,1543,1548,1554,1567,1573,1578,1584,1589,1688,1694,1764,1770,1860,1866],{"type":30,"tag":31,"props":1353,"children":1354},{},[1355],{"type":35,"value":1356},"A good token allocation splits total supply across five buckets: team and advisors, investors, community and ecosystem, treasury, and launch liquidity. There is no universal percentage that works. What works is an allocation you can defend line by line: each bucket has a stated purpose, a vesting schedule that matches that purpose, and a size that does not leave too little circulating supply at launch or too much in the hands of insiders. This guide gives you a framework for deciding the split, the questions exchanges and investors will ask about it, and the red flags that make a distribution table look weak.",{"type":30,"tag":31,"props":1358,"children":1359},{},[1360],{"type":35,"value":1361},"Any percentages below are illustrative, not industry standards. Projects differ in stage, funding path and utility, and the right split for a protocol that raised two rounds is not the right split for a community-first launch.",{"type":30,"tag":52,"props":1363,"children":1365},{"id":1364},"what-a-token-allocation-table-is-actually-for",[1366],{"type":35,"value":1367},"What a Token Allocation Table Is Actually For",{"type":30,"tag":31,"props":1369,"children":1370},{},[1371],{"type":35,"value":1372},"Founders often treat the allocation chart as a marketing graphic. In practice it is read as a risk document. Three audiences read it closely:",{"type":30,"tag":146,"props":1374,"children":1375},{},[1376,1386,1396],{"type":30,"tag":68,"props":1377,"children":1378},{},[1379,1384],{"type":30,"tag":72,"props":1380,"children":1381},{},[1382],{"type":35,"value":1383},"Investors",{"type":35,"value":1385}," want to see that the team is locked in and that the insider share is not so large that unlocks will flood the market.",{"type":30,"tag":68,"props":1387,"children":1388},{},[1389,1394],{"type":30,"tag":72,"props":1390,"children":1391},{},[1392],{"type":35,"value":1393},"Exchanges",{"type":35,"value":1395}," check how much supply is liquid at listing and who controls it, because concentrated or fully unlocked supply is a listing risk.",{"type":30,"tag":68,"props":1397,"children":1398},{},[1399,1404],{"type":30,"tag":72,"props":1400,"children":1401},{},[1402],{"type":35,"value":1403},"Your community",{"type":35,"value":1405}," uses it to judge whether the project is fair. A table that gives most of the supply to a few wallets reads as extractive, whatever the roadmap says.",{"type":30,"tag":31,"props":1407,"children":1408},{},[1409,1411,1417],{"type":35,"value":1410},"The allocation is also the starting point for your float, your unlock schedule and your market maker's inventory. A mistake here propagates into everything covered in ",{"type":30,"tag":43,"props":1412,"children":1414},{"href":1413},"/blog/tokenomics-design-guide",[1415],{"type":35,"value":1416},"our tokenomics design guide",{"type":35,"value":423},{"type":30,"tag":52,"props":1419,"children":1421},{"id":1420},"the-five-buckets-and-what-each-one-is-for",[1422],{"type":35,"value":1423},"The Five Buckets and What Each One Is For",{"type":30,"tag":1425,"props":1426,"children":1428},"h3",{"id":1427},"team-and-advisors",[1429],{"type":35,"value":1430},"Team and advisors",{"type":30,"tag":31,"props":1432,"children":1433},{},[1434],{"type":35,"value":1435},"This bucket compensates the people building the project. Its job is retention and alignment, so its structure matters more than its size. A cliff followed by linear vesting is the common pattern, with a total duration long enough that the team is still building when the last tokens unlock. Advisors typically sit on shorter schedules than founders, and their share should be modest and tied to actual contribution.",{"type":30,"tag":1425,"props":1437,"children":1439},{"id":1438},"investors",[1440],{"type":35,"value":1383},{"type":30,"tag":31,"props":1442,"children":1443},{},[1444,1446,1452],{"type":35,"value":1445},"This covers seed, private and strategic rounds. Size follows from how much you raised and at what valuation: raising more at a lower valuation means selling a larger share of supply. Every round needs its own price, vesting and cliff terms recorded, because your unlock calendar is built from them. If your fundraising structure is still open, ",{"type":30,"tag":43,"props":1447,"children":1449},{"href":1448},"/blog/saft-vs-token-warrant",[1450],{"type":35,"value":1451},"SAFT versus token warrant",{"type":35,"value":1453}," affects when investors actually receive tokens.",{"type":30,"tag":1425,"props":1455,"children":1457},{"id":1456},"community-and-ecosystem",[1458],{"type":35,"value":1459},"Community and ecosystem",{"type":30,"tag":31,"props":1461,"children":1462},{},[1463],{"type":35,"value":1464},"This is the largest conceptual bucket and the most commonly mismanaged. It usually funds airdrops, rewards, grants, liquidity incentives, partnerships and future contributors. The mistake is to label a large pool \"community\" without a plan for how it is released. A big, vaguely defined community bucket is both a fairness claim and a future sell-pressure overhang. Define sub-allocations and an emission schedule so the bucket does not look like a second treasury.",{"type":30,"tag":1425,"props":1466,"children":1468},{"id":1467},"treasury-and-foundation",[1469],{"type":35,"value":1470},"Treasury and foundation",{"type":30,"tag":31,"props":1472,"children":1473},{},[1474,1476,1482,1484,1488],{"type":35,"value":1475},"This funds operations, development and runway after the raise is spent, and it often backs buybacks or strategic reserves. It should have clear governance: who can move it, under what limits and with what reporting. Where it sits legally is its own decision, which we compare in ",{"type":30,"tag":43,"props":1477,"children":1479},{"href":1478},"/blog/token-foundation-jurisdiction-comparison",[1480],{"type":35,"value":1481},"our guide to token foundation jurisdictions",{"type":35,"value":1483},". For policy options, see ",{"type":30,"tag":43,"props":1485,"children":1486},{"href":1037},[1487],{"type":35,"value":1040},{"type":35,"value":423},{"type":30,"tag":1425,"props":1490,"children":1492},{"id":1491},"launch-liquidity-and-market-making",[1493],{"type":35,"value":1494},"Launch liquidity and market making",{"type":30,"tag":31,"props":1496,"children":1497},{},[1498,1500,1506],{"type":35,"value":1499},"This bucket is small in percentage terms but critical at launch. It funds market maker inventory, DEX pool seeding and exchange-specific needs. If you leave it out of the table, you will end up lending tokens from the treasury or team allocation on short notice, which is both messy and visible on-chain. Sizing it is covered in ",{"type":30,"tag":43,"props":1501,"children":1503},{"href":1502},"/blog/how-much-liquidity-does-a-token-need-at-launch",[1504],{"type":35,"value":1505},"how much liquidity a token needs at launch",{"type":35,"value":423},{"type":30,"tag":52,"props":1508,"children":1510},{"id":1509},"a-decision-framework-for-the-split",[1511],{"type":35,"value":1512},"A Decision Framework for the Split",{"type":30,"tag":31,"props":1514,"children":1515},{},[1516],{"type":35,"value":1517},"Rather than start from a template, work through these four decisions in order.",{"type":30,"tag":1425,"props":1519,"children":1521},{"id":1520},"step-1-decide-your-target-circulating-supply-at-tge",[1522],{"type":35,"value":1523},"Step 1: Decide your target circulating supply at TGE",{"type":30,"tag":31,"props":1525,"children":1526},{},[1527,1529,1535],{"type":35,"value":1528},"Pick the float you want on day one first, then work backwards. A low float can make a token easy to move and prone to sharp swings; a high float demands more liquidity to absorb it. ",{"type":30,"tag":43,"props":1530,"children":1532},{"href":1531},"/blog/low-float-vs-high-float-token-launch",[1533],{"type":35,"value":1534},"Low float versus high float launches",{"type":35,"value":1536}," lays out the trade-off. Your float is the sum of everything unlocked at TGE across buckets, so every bucket's TGE unlock should be a deliberate number.",{"type":30,"tag":1425,"props":1538,"children":1540},{"id":1539},"step-2-cap-the-insider-share",[1541],{"type":35,"value":1542},"Step 2: Cap the insider share",{"type":30,"tag":31,"props":1544,"children":1545},{},[1546],{"type":35,"value":1547},"Add team, advisors and investors together. This is the share of supply controlled by people with a cost basis far below the market price and a reason to sell. There is no magic threshold, but a combined insider share that exceeds what the public holds invites scrutiny, especially if the vesting is short. If your numbers push the insider share high, extend vesting rather than shrinking the number, and be ready to explain why.",{"type":30,"tag":1425,"props":1549,"children":1551},{"id":1550},"step-3-size-the-community-bucket-to-what-you-can-actually-deploy",[1552],{"type":35,"value":1553},"Step 3: Size the community bucket to what you can actually deploy",{"type":30,"tag":31,"props":1555,"children":1556},{},[1557,1559,1565],{"type":35,"value":1558},"Ask how many tokens you can responsibly distribute over the next three to four years through airdrops, rewards and grants. If you cannot write down a plan for a quarter of the community bucket, it is too large or the plan is missing. Programmes such as ",{"type":30,"tag":43,"props":1560,"children":1562},{"href":1561},"/blog/points-program-vs-airdrop",[1563],{"type":35,"value":1564},"a points programme versus an airdrop",{"type":35,"value":1566}," have different supply needs, so decide your distribution mechanics before locking the percentage.",{"type":30,"tag":1425,"props":1568,"children":1570},{"id":1569},"step-4-reserve-for-runway-and-liquidity",[1571],{"type":35,"value":1572},"Step 4: Reserve for runway and liquidity",{"type":30,"tag":31,"props":1574,"children":1575},{},[1576],{"type":35,"value":1577},"Estimate runway in months, convert it to tokens at a conservative price, and make sure the treasury covers it without relying on the token price rising. Add the liquidity reserve on top. Whatever is left is the headroom you have for the other buckets.",{"type":30,"tag":52,"props":1579,"children":1581},{"id":1580},"illustrative-comparison-of-allocation-approaches",[1582],{"type":35,"value":1583},"Illustrative Comparison of Allocation Approaches",{"type":30,"tag":31,"props":1585,"children":1586},{},[1587],{"type":35,"value":1588},"The table shows how emphasis shifts by project type. These are descriptions of tendencies, not benchmarks.",{"type":30,"tag":481,"props":1590,"children":1591},{},[1592,1613],{"type":30,"tag":485,"props":1593,"children":1594},{},[1595],{"type":30,"tag":489,"props":1596,"children":1597},{},[1598,1603,1608],{"type":30,"tag":493,"props":1599,"children":1600},{},[1601],{"type":35,"value":1602},"Project type",{"type":30,"tag":493,"props":1604,"children":1605},{},[1606],{"type":35,"value":1607},"Where the weight sits",{"type":30,"tag":493,"props":1609,"children":1610},{},[1611],{"type":35,"value":1612},"Main risk",{"type":30,"tag":514,"props":1614,"children":1615},{},[1616,1634,1652,1670],{"type":30,"tag":489,"props":1617,"children":1618},{},[1619,1624,1629],{"type":30,"tag":521,"props":1620,"children":1621},{},[1622],{"type":35,"value":1623},"VC-backed protocol",{"type":30,"tag":521,"props":1625,"children":1626},{},[1627],{"type":35,"value":1628},"Investors and team are large; long vesting",{"type":30,"tag":521,"props":1630,"children":1631},{},[1632],{"type":35,"value":1633},"Unlock overhang, insider concentration",{"type":30,"tag":489,"props":1635,"children":1636},{},[1637,1642,1647],{"type":30,"tag":521,"props":1638,"children":1639},{},[1640],{"type":35,"value":1641},"Community-first launch",{"type":30,"tag":521,"props":1643,"children":1644},{},[1645],{"type":35,"value":1646},"Community and ecosystem dominate; small team share",{"type":30,"tag":521,"props":1648,"children":1649},{},[1650],{"type":35,"value":1651},"Funding runway, weak treasury",{"type":30,"tag":489,"props":1653,"children":1654},{},[1655,1660,1665],{"type":30,"tag":521,"props":1656,"children":1657},{},[1658],{"type":35,"value":1659},"Utility or app token",{"type":30,"tag":521,"props":1661,"children":1662},{},[1663],{"type":35,"value":1664},"Ecosystem rewards and treasury",{"type":30,"tag":521,"props":1666,"children":1667},{},[1668],{"type":35,"value":1669},"Inflation from rewards outpacing demand",{"type":30,"tag":489,"props":1671,"children":1672},{},[1673,1678,1683],{"type":30,"tag":521,"props":1674,"children":1675},{},[1676],{"type":35,"value":1677},"Infrastructure network",{"type":30,"tag":521,"props":1679,"children":1680},{},[1681],{"type":35,"value":1682},"Network incentives and validators",{"type":30,"tag":521,"props":1684,"children":1685},{},[1686],{"type":35,"value":1687},"Emission design, security budget",{"type":30,"tag":52,"props":1689,"children":1691},{"id":1690},"common-allocation-mistakes",[1692],{"type":35,"value":1693},"Common Allocation Mistakes",{"type":30,"tag":146,"props":1695,"children":1696},{},[1697,1707,1717,1727,1744,1754],{"type":30,"tag":68,"props":1698,"children":1699},{},[1700,1705],{"type":30,"tag":72,"props":1701,"children":1702},{},[1703],{"type":35,"value":1704},"No separate liquidity line.",{"type":35,"value":1706}," Market making inventory ends up borrowed from other buckets, muddying the table.",{"type":30,"tag":68,"props":1708,"children":1709},{},[1710,1715],{"type":30,"tag":72,"props":1711,"children":1712},{},[1713],{"type":35,"value":1714},"Giant undefined ecosystem pool.",{"type":35,"value":1716}," It looks like a hidden insider reserve.",{"type":30,"tag":68,"props":1718,"children":1719},{},[1720,1725],{"type":30,"tag":72,"props":1721,"children":1722},{},[1723],{"type":35,"value":1724},"Identical vesting for every group.",{"type":35,"value":1726}," Different roles warrant different cliffs and durations.",{"type":30,"tag":68,"props":1728,"children":1729},{},[1730,1735,1737,1742],{"type":30,"tag":72,"props":1731,"children":1732},{},[1733],{"type":35,"value":1734},"Ignoring the combined unlock calendar.",{"type":35,"value":1736}," Individually sensible buckets can unlock in the same month. Model them together using ",{"type":30,"tag":43,"props":1738,"children":1739},{"href":822},[1740],{"type":35,"value":1741},"token unlock management",{"type":35,"value":1743}," practices.",{"type":30,"tag":68,"props":1745,"children":1746},{},[1747,1752],{"type":30,"tag":72,"props":1748,"children":1749},{},[1750],{"type":35,"value":1751},"Rounding for aesthetics.",{"type":35,"value":1753}," Choosing round percentages because they look tidy is not a reason. Each number should trace to a purpose.",{"type":30,"tag":68,"props":1755,"children":1756},{},[1757,1762],{"type":30,"tag":72,"props":1758,"children":1759},{},[1760],{"type":35,"value":1761},"Changing the table after publishing.",{"type":35,"value":1763}," Revising allocations after investors and exchanges have reviewed them damages trust more than any imperfection in the original.",{"type":30,"tag":52,"props":1765,"children":1767},{"id":1766},"allocation-review-checklist",[1768],{"type":35,"value":1769},"Allocation Review Checklist",{"type":30,"tag":146,"props":1771,"children":1774},{"className":1772},[1773],"contains-task-list",[1775,1788,1797,1806,1815,1824,1833,1842,1851],{"type":30,"tag":68,"props":1776,"children":1779},{"className":1777},[1778],"task-list-item",[1780,1786],{"type":30,"tag":1781,"props":1782,"children":1785},"input",{"disabled":1783,"type":1784},true,"checkbox",[],{"type":35,"value":1787}," Every bucket has a one-sentence purpose",{"type":30,"tag":68,"props":1789,"children":1791},{"className":1790},[1778],[1792,1795],{"type":30,"tag":1781,"props":1793,"children":1794},{"disabled":1783,"type":1784},[],{"type":35,"value":1796}," Every bucket has a vesting schedule recorded, including cliff and TGE unlock",{"type":30,"tag":68,"props":1798,"children":1800},{"className":1799},[1778],[1801,1804],{"type":30,"tag":1781,"props":1802,"children":1803},{"disabled":1783,"type":1784},[],{"type":35,"value":1805}," Circulating supply at TGE calculated and matches your launch plan",{"type":30,"tag":68,"props":1807,"children":1809},{"className":1808},[1778],[1810,1813],{"type":30,"tag":1781,"props":1811,"children":1812},{"disabled":1783,"type":1784},[],{"type":35,"value":1814}," Combined insider share calculated and defensible",{"type":30,"tag":68,"props":1816,"children":1818},{"className":1817},[1778],[1819,1822],{"type":30,"tag":1781,"props":1820,"children":1821},{"disabled":1783,"type":1784},[],{"type":35,"value":1823}," Community bucket has sub-allocations and a release plan",{"type":30,"tag":68,"props":1825,"children":1827},{"className":1826},[1778],[1828,1831],{"type":30,"tag":1781,"props":1829,"children":1830},{"disabled":1783,"type":1784},[],{"type":35,"value":1832}," Treasury covers runway without depending on token price",{"type":30,"tag":68,"props":1834,"children":1836},{"className":1835},[1778],[1837,1840],{"type":30,"tag":1781,"props":1838,"children":1839},{"disabled":1783,"type":1784},[],{"type":35,"value":1841}," Launch liquidity and market making inventory budgeted explicitly",{"type":30,"tag":68,"props":1843,"children":1845},{"className":1844},[1778],[1846,1849],{"type":30,"tag":1781,"props":1847,"children":1848},{"disabled":1783,"type":1784},[],{"type":35,"value":1850}," Combined monthly unlock calendar modelled for at least two years",{"type":30,"tag":68,"props":1852,"children":1854},{"className":1853},[1778],[1855,1858],{"type":30,"tag":1781,"props":1856,"children":1857},{"disabled":1783,"type":1784},[],{"type":35,"value":1859}," Wallet addresses, multisig signers and lockups documented",{"type":30,"tag":52,"props":1861,"children":1863},{"id":1862},"allocation-is-a-launch-dependency",[1864],{"type":35,"value":1865},"Allocation Is a Launch Dependency",{"type":30,"tag":31,"props":1867,"children":1868},{},[1869,1871,1876],{"type":35,"value":1870},"The allocation you publish becomes the base for your listing conversations, your market maker's inventory plan and your investors' expectations. Treat it as something to stress-test, not just to design. At Fibonacci Capital we review distribution tables against launch liquidity and unlock calendars so teams find the weak spots before an exchange or an investor does. If you want a second opinion on your split, ",{"type":30,"tag":43,"props":1872,"children":1873},{"href":859},[1874],{"type":35,"value":1875},"talk to us about your pre-TGE plan",{"type":35,"value":423},{"title":7,"searchDepth":873,"depth":873,"links":1878},[1879,1880,1888,1894,1895,1896,1897],{"id":1364,"depth":873,"text":1367},{"id":1420,"depth":873,"text":1423,"children":1881},[1882,1884,1885,1886,1887],{"id":1427,"depth":1883,"text":1430},3,{"id":1438,"depth":1883,"text":1383},{"id":1456,"depth":1883,"text":1459},{"id":1467,"depth":1883,"text":1470},{"id":1491,"depth":1883,"text":1494},{"id":1509,"depth":873,"text":1512,"children":1889},[1890,1891,1892,1893],{"id":1520,"depth":1883,"text":1523},{"id":1539,"depth":1883,"text":1542},{"id":1550,"depth":1883,"text":1553},{"id":1569,"depth":1883,"text":1572},{"id":1580,"depth":873,"text":1583},{"id":1690,"depth":873,"text":1693},{"id":1766,"depth":873,"text":1769},{"id":1862,"depth":873,"text":1865},"content:blog:token-allocation-breakdown-team-investors-community.md","blog/token-allocation-breakdown-team-investors-community.md","blog/token-allocation-breakdown-team-investors-community",{"_path":1902,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":1903,"description":1904,"date":1905,"author":11,"category":12,"tags":1906,"keywords":1910,"image":1916,"readTime":1349,"body":1917,"_type":888,"_id":2291,"_source":890,"_file":2292,"_stem":2293,"_extension":893},"/blog/token-staking-rewards-design-mistakes","Token Staking Rewards Design: 7 Mistakes That Hurt Your Token (and Fixes)","Token staking rewards design done wrong drains treasuries and floods the market. Seven common mistakes in emissions and yield, each with a practical fix.","2026-10-19",[1907,15,1908,1909],"staking","emissions","rewards design",[1911,1912,1913,1914,1915],"token staking rewards design","staking rewards tokenomics","staking APY design","token emissions staking","staking mistakes crypto","/assets/images/blog/token-staking-rewards-design-mistakes.jpg",{"type":27,"children":1918,"toc":2280},[1919,1924,1929,1935,1940,1957,1963,1968,1984,1990,1995,2004,2010,2015,2024,2030,2035,2051,2057,2062,2077,2083,2088,2111,2117,2122,2257,2262,2268],{"type":30,"tag":31,"props":1920,"children":1921},{},[1922],{"type":35,"value":1923},"Good token staking rewards design pays holders for something the protocol actually needs, funds that payment from a source you can sustain, and does not create a wall of sell pressure the day rewards are claimed. Most staking programmes fail one of those three tests. They advertise a high yield to attract deposits, pay it from newly minted tokens, and then discover that the people they attracted are renting their tokens and leaving. This article covers seven mistakes that show up repeatedly, with a fix for each, so you can design rewards that last longer than the launch campaign.",{"type":30,"tag":31,"props":1925,"children":1926},{},[1927],{"type":35,"value":1928},"Staking is a tool, not a goal. Before you set a rate, you should be able to answer a simple question: what behaviour do we want to buy, and is it worth what we are paying for it?",{"type":30,"tag":52,"props":1930,"children":1932},{"id":1931},"_1-paying-a-headline-yield-with-no-source",[1933],{"type":35,"value":1934},"1. Paying a Headline Yield With No Source",{"type":30,"tag":31,"props":1936,"children":1937},{},[1938],{"type":35,"value":1939},"The most common mistake is choosing an attractive annual rate first and working out how to pay it later. If rewards come only from newly issued tokens, the real return to a staker depends on how much the supply grows, and a high nominal rate can be offset by dilution. Stakers who understand this leave. Stakers who do not are surprised by a falling price.",{"type":30,"tag":31,"props":1941,"children":1942},{},[1943,1948,1950,1956],{"type":30,"tag":72,"props":1944,"children":1945},{},[1946],{"type":35,"value":1947},"Fix:",{"type":35,"value":1949}," Start from the funding source. Rewards can come from a fixed emissions allocation, from protocol revenue, from fees, or from a mix. Write down how many tokens leave the reward pool per period, and how long the pool lasts at the expected participation level. If the numbers only work with a very high price, the design is a bet, not a plan. For the wider supply picture, see ",{"type":30,"tag":43,"props":1951,"children":1953},{"href":1952},"/blog/token-monetary-policy-supply-design",[1954],{"type":35,"value":1955},"token monetary policy and supply design",{"type":35,"value":423},{"type":30,"tag":52,"props":1958,"children":1960},{"id":1959},"_2-ignoring-what-rewards-do-to-sell-pressure",[1961],{"type":35,"value":1962},"2. Ignoring What Rewards Do to Sell Pressure",{"type":30,"tag":31,"props":1964,"children":1965},{},[1966],{"type":35,"value":1967},"Reward tokens are usually sold by some share of recipients. If the reward is large relative to daily trading volume, the market has to absorb it every day. Teams often model unlocks carefully and forget that staking emissions are just another unlock, delivered continuously.",{"type":30,"tag":31,"props":1969,"children":1970},{},[1971,1975,1977,1982],{"type":30,"tag":72,"props":1972,"children":1973},{},[1974],{"type":35,"value":1947},{"type":35,"value":1976}," Add staking emissions to your unlock calendar and compare the combined daily supply entering circulation with realistic trading volume. Where the two are close, slow the emission, lengthen reward vesting, or pay part of the reward in a locked form. ",{"type":30,"tag":43,"props":1978,"children":1979},{"href":822},[1980],{"type":35,"value":1981},"Token unlocks and managing sell pressure",{"type":35,"value":1983}," shows how to model this.",{"type":30,"tag":52,"props":1985,"children":1987},{"id":1986},"_3-rewarding-capital-instead-of-commitment",[1988],{"type":35,"value":1989},"3. Rewarding Capital Instead of Commitment",{"type":30,"tag":31,"props":1991,"children":1992},{},[1993],{"type":35,"value":1994},"A flat rate for any deposit attracts mercenary capital: holders who stake for the highest return available this week and move on. It also rewards them equally whether they stake for a day or a year, which gives you no reason to expect stability.",{"type":30,"tag":31,"props":1996,"children":1997},{},[1998,2002],{"type":30,"tag":72,"props":1999,"children":2000},{},[2001],{"type":35,"value":1947},{"type":35,"value":2003}," Tie higher rewards to longer lockups or longer holding periods, and keep the shorter options modest. The aim is to pay more for what is more valuable to the protocol, which is predictable, long-duration capital. Be clear and honest in the interface about what a lock means, including any exit delay.",{"type":30,"tag":52,"props":2005,"children":2007},{"id":2006},"_4-choosing-a-lock-that-traps-users-or-fails-to-bind-them",[2008],{"type":35,"value":2009},"4. Choosing a Lock That Traps Users or Fails to Bind Them",{"type":30,"tag":31,"props":2011,"children":2012},{},[2013],{"type":35,"value":2014},"Lock design cuts both ways. A very long lock deters participation and creates resentment in a downturn. A lock that is too short, or easy to bypass through a liquid staking wrapper, does not stop rapid exits at all.",{"type":30,"tag":31,"props":2016,"children":2017},{},[2018,2022],{"type":30,"tag":72,"props":2019,"children":2020},{},[2021],{"type":35,"value":1947},{"type":35,"value":2023}," Match the lock to the purpose. If staking secures a network, the lock should reflect the security you need. If staking grants governance weight or access, the lock should reflect the commitment you want. Consider an unbonding period as a softer alternative to a hard lock. Test how wrapped or tokenised stake positions behave, because they can change who holds the economic exposure.",{"type":30,"tag":52,"props":2025,"children":2027},{"id":2026},"_5-no-utility-behind-the-stake",[2028],{"type":35,"value":2029},"5. No Utility Behind the Stake",{"type":30,"tag":31,"props":2031,"children":2032},{},[2033],{"type":35,"value":2034},"If the only reason to stake is the reward, then reward is the product, and the product disappears when emissions end. Staking programmes without real utility tend to trace a familiar path: a burst of deposits at launch, a decline as the rate falls, and a quiet shutdown.",{"type":30,"tag":31,"props":2036,"children":2037},{},[2038,2042,2044,2049],{"type":30,"tag":72,"props":2039,"children":2040},{},[2041],{"type":35,"value":1947},{"type":35,"value":2043}," Link staking to something the token does. That can be access, fee discounts, governance rights, a share of protocol revenue, or a role in security. ",{"type":30,"tag":43,"props":2045,"children":2046},{"href":941},[2047],{"type":35,"value":2048},"Token utility and value accrual",{"type":35,"value":2050}," explains how to test whether a utility is real. If you cannot name a use that holders would value without the reward, consider delaying staking until you can.",{"type":30,"tag":52,"props":2052,"children":2054},{"id":2053},"_6-setting-rates-once-and-never-revisiting-them",[2055],{"type":35,"value":2056},"6. Setting Rates Once and Never Revisiting Them",{"type":30,"tag":31,"props":2058,"children":2059},{},[2060],{"type":35,"value":2061},"A static reward schedule meets a dynamic market. Participation changes, the price changes and the treasury changes. A rate that looked reasonable at launch can become either too generous, draining the pool early, or too thin to matter.",{"type":30,"tag":31,"props":2063,"children":2064},{},[2065,2069,2071,2075],{"type":30,"tag":72,"props":2066,"children":2067},{},[2068],{"type":35,"value":1947},{"type":35,"value":2070}," Decide up front how rates adjust and who decides. Options include a fixed decay schedule, a rate that falls as total staked rises, or governance-controlled changes with limits. Publish the rules so stakers can plan, and avoid surprise changes that look like a rug even when they are well intentioned. Document the reasoning in your ",{"type":30,"tag":43,"props":2072,"children":2073},{"href":1413},[2074],{"type":35,"value":15},{"type":35,"value":2076}," materials so the logic is public from day one.",{"type":30,"tag":52,"props":2078,"children":2080},{"id":2079},"_7-launching-staking-before-liquidity-is-ready",[2081],{"type":35,"value":2082},"7. Launching Staking Before Liquidity Is Ready",{"type":30,"tag":31,"props":2084,"children":2085},{},[2086],{"type":35,"value":2087},"A staking programme draws attention. If the order book is thin when that attention arrives, any large stake or unstake moves the price visibly. Stakers who need to sell rewards face wide spreads, and the chart reflects it.",{"type":30,"tag":31,"props":2089,"children":2090},{},[2091,2095,2097,2101,2103,2109],{"type":30,"tag":72,"props":2092,"children":2093},{},[2094],{"type":35,"value":1947},{"type":35,"value":2096}," Sequence the launch. Have liquidity in place on your main venues before staking opens, and size it for the reward sales you expect. Our guidance in ",{"type":30,"tag":43,"props":2098,"children":2099},{"href":1502},[2100],{"type":35,"value":1505},{"type":35,"value":2102}," applies here too, and reward pools belong in your ",{"type":30,"tag":43,"props":2104,"children":2106},{"href":2105},"/blog/how-much-does-it-cost-to-launch-a-token",[2107],{"type":35,"value":2108},"launch budget",{"type":35,"value":2110},". Consider starting with a modest rate and a cap on total staked, then expanding once the market has shown it can absorb the flow.",{"type":30,"tag":52,"props":2112,"children":2114},{"id":2113},"a-short-decision-framework",[2115],{"type":35,"value":2116},"A Short Decision Framework",{"type":30,"tag":31,"props":2118,"children":2119},{},[2120],{"type":35,"value":2121},"Use these questions before you finalise any staking design.",{"type":30,"tag":481,"props":2123,"children":2124},{},[2125,2146],{"type":30,"tag":485,"props":2126,"children":2127},{},[2128],{"type":30,"tag":489,"props":2129,"children":2130},{},[2131,2136,2141],{"type":30,"tag":493,"props":2132,"children":2133},{},[2134],{"type":35,"value":2135},"Question",{"type":30,"tag":493,"props":2137,"children":2138},{},[2139],{"type":35,"value":2140},"A good answer",{"type":30,"tag":493,"props":2142,"children":2143},{},[2144],{"type":35,"value":2145},"A warning sign",{"type":30,"tag":514,"props":2147,"children":2148},{},[2149,2167,2185,2203,2221,2239],{"type":30,"tag":489,"props":2150,"children":2151},{},[2152,2157,2162],{"type":30,"tag":521,"props":2153,"children":2154},{},[2155],{"type":35,"value":2156},"Why does the protocol need staking?",{"type":30,"tag":521,"props":2158,"children":2159},{},[2160],{"type":35,"value":2161},"Security, access, governance or revenue sharing",{"type":30,"tag":521,"props":2163,"children":2164},{},[2165],{"type":35,"value":2166},"\"To reduce circulating supply\"",{"type":30,"tag":489,"props":2168,"children":2169},{},[2170,2175,2180],{"type":30,"tag":521,"props":2171,"children":2172},{},[2173],{"type":35,"value":2174},"Where do rewards come from?",{"type":30,"tag":521,"props":2176,"children":2177},{},[2178],{"type":35,"value":2179},"A funded pool or revenue, with a known runway",{"type":30,"tag":521,"props":2181,"children":2182},{},[2183],{"type":35,"value":2184},"Unlimited minting",{"type":30,"tag":489,"props":2186,"children":2187},{},[2188,2193,2198],{"type":30,"tag":521,"props":2189,"children":2190},{},[2191],{"type":35,"value":2192},"How big is daily reward issuance versus volume?",{"type":30,"tag":521,"props":2194,"children":2195},{},[2196],{"type":35,"value":2197},"Small enough to absorb",{"type":30,"tag":521,"props":2199,"children":2200},{},[2201],{"type":35,"value":2202},"Comparable to daily volume",{"type":30,"tag":489,"props":2204,"children":2205},{},[2206,2211,2216],{"type":30,"tag":521,"props":2207,"children":2208},{},[2209],{"type":35,"value":2210},"Does longer commitment earn more?",{"type":30,"tag":521,"props":2212,"children":2213},{},[2214],{"type":35,"value":2215},"Yes, in a clear schedule",{"type":30,"tag":521,"props":2217,"children":2218},{},[2219],{"type":35,"value":2220},"Same rate for everyone",{"type":30,"tag":489,"props":2222,"children":2223},{},[2224,2229,2234],{"type":30,"tag":521,"props":2225,"children":2226},{},[2227],{"type":35,"value":2228},"What happens when emissions end?",{"type":30,"tag":521,"props":2230,"children":2231},{},[2232],{"type":35,"value":2233},"Utility keeps participation up",{"type":30,"tag":521,"props":2235,"children":2236},{},[2237],{"type":35,"value":2238},"Staking collapses",{"type":30,"tag":489,"props":2240,"children":2241},{},[2242,2247,2252],{"type":30,"tag":521,"props":2243,"children":2244},{},[2245],{"type":35,"value":2246},"Is liquidity ready?",{"type":30,"tag":521,"props":2248,"children":2249},{},[2250],{"type":35,"value":2251},"Yes, sized for reward sales",{"type":30,"tag":521,"props":2253,"children":2254},{},[2255],{"type":35,"value":2256},"Staking opens first",{"type":30,"tag":31,"props":2258,"children":2259},{},[2260],{"type":35,"value":2261},"If you cannot give a good answer to at least the first three, pause and redesign. A staking programme that is smaller and sustainable usually does more for a token than a large one that unwinds.",{"type":30,"tag":52,"props":2263,"children":2265},{"id":2264},"rewards-liquidity-and-the-market",[2266],{"type":35,"value":2267},"Rewards, Liquidity and the Market",{"type":30,"tag":31,"props":2269,"children":2270},{},[2271,2273,2278],{"type":35,"value":2272},"Staking rewards and market structure are linked. Rewards create steady supply, steady supply needs steady demand, and steady demand needs an order book deep enough that normal trading does not move the price. This is where market making matters: it does not replace a sound reward design, but it keeps ordinary flow from turning into volatility. Fibonacci Capital works with teams on the liquidity side of launches, and if you are planning a staking programme alongside a listing or TGE, talk to us through our ",{"type":30,"tag":43,"props":2274,"children":2275},{"href":859},[2276],{"type":35,"value":2277},"pre-TGE program",{"type":35,"value":2279}," so the two are designed together.",{"title":7,"searchDepth":873,"depth":873,"links":2281},[2282,2283,2284,2285,2286,2287,2288,2289,2290],{"id":1931,"depth":873,"text":1934},{"id":1959,"depth":873,"text":1962},{"id":1986,"depth":873,"text":1989},{"id":2006,"depth":873,"text":2009},{"id":2026,"depth":873,"text":2029},{"id":2053,"depth":873,"text":2056},{"id":2079,"depth":873,"text":2082},{"id":2113,"depth":873,"text":2116},{"id":2264,"depth":873,"text":2267},"content:blog:token-staking-rewards-design-mistakes.md","blog/token-staking-rewards-design-mistakes.md","blog/token-staking-rewards-design-mistakes",1792978651576]