Emission: Cliff, Linear
Standardizing token release schedules with cliff and linear models
Overview
Token release schedules use inconsistent terms, making it difficult to compare projects. We solve this by standardizing unlock models into two types: periodic Cliff Release and daily Linear Release. Our Emission component provides the complete picture by tracking net supply changes from both inflation and token burns (deflation).
Methodology
Definitions
Cliff Unlock: An unlock event that occurs at a set interval greater than one day (e.g., weekly, monthly, quarterly). This represents a discrete, periodic release of tokens.
Linear Unlock: A continuous, daily release of a specific number of tokens. This represents a smooth, predictable increase in the circulating supply.
Inflation: The number of new tokens either from new issuance or released according to a release schedule.
Deflation: The decrease of tokens via a burn mechanism.
Emission: Calculated as
Inflation - Deflation.
Unlock Classification: We analyze each allocation's release schedule. If tokens are released daily, we classify the model as Linear. If they are released in discrete intervals (weekly, monthly, etc.), we classify it as a Cliff.
Emission Calculation:
Historical: We track all inflation and deflation events from the Token Generation Event (TGE) to today to calculate the total net emission history.
Projected: We project future inflation based on all known Cliff and Linear unlock schedules. Note: Our future projections do not include potential deflationary events (burns), as these are often variable and unpredictable.
Example Cases
Case 1 (Cliff): A project's "Advisor" tokens unlock 1,000,000 tokens on the 1st of every month. Our system shows this as a monthly Cliff Unlock with a countdown.
Case 2 (Linear): A protocol's "Ecosystem Rewards" release 50,000 tokens per day. We classify this as a Linear Unlock and show a countdown to the next change in this daily rate, allowing analysts to model smooth inflation.
Accessing Unlock & Emission Data
This data is a central feature of the main dashboard for every asset we track.
The Cliff and Linear unlock modules are located at the top of the page, giving you an immediate summary of the next critical supply events.
The detailed Emission chart is located further down, providing a comprehensive view of historical and projected supply changes.
See more about this on the Token page.
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