Tokenomics

A look into the info relating to $SKILL tokenomics & inflation.

TOKENOMICS

Allocation	Amount	Vesting Period
DEX Liquidity Pair	9,000,000 (90%)	n/a
Liquidity Providers	500,000 (5%)	2024 - 2029
Skills Labs Team	500,000 (5%)	2024 - 2029

Year	Total $SKILL Inflation
From 2024-2029	200,000 Per Year

Bridging and Wrapped Tokens

The total supply of SKILL tokens is capped at 10,000,000 (10M) and has been initially minted on the Cardano blockchain. As we expand the Skills Labs ecosystem, SKILL tokens will be wrapped and minted on new blockchains when the original SKILL tokens on Cardano are sent to bridges. This ensures that the total circulating supply remains constant across all chains and prevents any forms of inflation across the ecosystem.

Auto-Briding & Wrapping Proccess

When users transfer raw SKILL tokens from Cardano to another blockchain using a bridge, the following wrapping process is followed:

1. Minting on New Chains: Wrapped SKILL tokens are minted on new chains (e.g. Binance Smart Chain, Solana, Base) when the corresponding amount of original or "Pure" SKILL has been deposited into the bridge from Cardano.

2. Burning and Redeeming: If a user sends wrapped SKILL tokens back from any of these chains to Cardano, the wrapped tokens are burned, and the equivalent amount of raw SKILL is sent from the bridge to the users Cardano wallet.