AMI, the native token of Amnis Finance, will make its market debut through MEXC on March 26. Around 8% of its token supply will be airdropped to early adopters.
Aptos (APT) liquidity staking protocol Amnis Finance announced the launch of its governance token with an initial listing on the crypto exchange MEXC on March 26. The protocol hinted that the token will be listed on more exchanges soon.
“Get ready to MOVE with the most anticipated TGE events on Aptos! A new chapter for Amnis Finance is about to start,” wrote the project on its recent post.
According to the MEXC notice, the exchange platform will open trading for the AMI/USDT (USDT) trading pair starting on March 26 at 10:00 UTC. Users can already begin depositing the token since the announcement was published, but they can only start withdrawing after March 27 at 10:00 UTC.
Additionally, the token will be available on MEXC Convert on March 26 at 11:00 UTC. MEXC Convert is a feature on MEXC that enables users to instantly swap cryptocurrencies without a fee.
Amnis Finance first announced its plans to launch a governance token on March 22, with the goal of empowering the Amnis community within the wider Aptos ecosystem.
AMI will serve as a governance token which grants holders the right to vote on decisions regarding changes to the protocol. These decision include structuring protocol fees, updating delegation strategies, and partnerships among others. Holders of the token will be part of the Amnis DAO Governance.
“By participating in DAO governance voting, AMI holders help steer the growth of Amnis Finance, making it more efficient and decentralized,” wrote Amnis Finance.
Amnis Finance has grown to become one of the largest liquid staking protocols within the the Aptos DeFi ecosystem. The protocol has experienced 1,882% year-on-year growth, making it the fastest growing protocol on Aptos, reaching more than 28 million APT staked throughout a one year period.
According to data on DeFi Llama, Amnis Finance currently ranks in the top three protocols on the Aptos Ecosystem in terms of total value locked. Overall, the protocol has staked a total of 35.5 million APT from more than 446,000 stakers.
What does the AMI token allocation look like?
According to Amnis Finance’s official token release article, the protocol has prepared a total token supply of 1 billion AMI. Around 8 million AMI will be distributed via airdrop to early adopters and marked for future distribution.
Out of the total 1 billion tokens, 20% will be allocated to the Amnis team, while another 20% will be reserved for community rewards meant incentivize the usage of Amnis’ current and future products. Team-allocated tokens will be unlocked after a one-year cliff period and two more years of linear monthly vesting.
Meanwhile, 16% will be set aside for the ecosystem to fund grants, partnerships and other initiatives. Another 16% will be allocated to investors who helped fund the project, with 12% going to seed investors, 3% to private investors and 1% to Key Opinion Leaders. Investor tokens will be subject to a six-month cliff period and a year-long linear monthly vesting schedule.
As for the remaining 20%, 15% will be allocated to marketing and 5% will be used for maintaining liquidity.
