MEDIA Token Distribution
Update Dec 31, 2022:
Despite the recent challenges with FTX and Alameda Research, our team remains optimistic about the future. In response to these events, we have shifted our focus to building a more scalable and long-term strategy.
While the current situation has disrupted our initial plans to subsidize Media Edges with MEDIA SPL, our new approach will lead to a stronger and more resilient protocol.
Due to the FTX/Alameda bankruptcy, it has been widely reported that 93.5% of the MEDIA SPL supply has been seized and locked in wallets 1–2–3 by authorities. This happened during the MEDIA unlocking process on the FTX Exchange, which has impacted our ability to reward early nodes. The current unlocked circulating supply is 650,000 MEDIA or 6.5% distributed within 23,023 holders.
As a result, we have had to adjust our plans and will no longer be able to pay MEDIA SPL pre-mined rewards directly to Media Edge nodes, as previously announced. Instead, clients will now use smart contracts to pay providers, allowing the protocol to become self-sustaining and support itself without external funding.
Please note this doesn’t affect EVM versions of MEDIA (Ethereum, BNB Chain, Polygon).
Update Nov 13, 2022: Message from our team regarding FTX/Alameda situation.
We’re very sorry for whoever lost funds on FTX. Due to the public information regarding the FTX insolvency, there will be changes in the MEDIA tokenomics. The MEDIA circulating supply will likely be reduced. No action is expected to be required for MEDIA holders. We recommend always keeping your MEDIA tokens in a non-custodial hardware wallet.
Update Jul 24, 2022: As of today, the current circulating supply is 737,015.57 MEDIA— This is going exactly as stipulated. We’ve added a new sheet with the monthly unlock details to better understand how tokens will be distributed.
For more information about MEDIA tokenomics, check the full document.
Update Jun 28, 2022: Due to a misunderstanding with the original MEDIA unlock schedule, the chart wrongly showed 550k as the current MEDIA circulating supply. The current circulating supply of MEDIA is 472,358.87 which is now displaying correctly. We’re also working on adding the circulating supply metric to our website for CMC & CG to fetch it from there. For now, it shows the market cap based on it.
Update Jun 25, 2022: No MEDIA has unlocked yet. As everyone might be aware, some new CEX listings might be coming, so we’re finishing our talks with market makers and partners to help us keep these markets healthy in terms of liquidity. We’ll announce at least 24 hours before any farm or MEDIA unlock starts.
Update May 6, 2022: Due to technical delays, we’re expecting MEDIA emissions to resume May 30, 2022. At that point, we’ll announce which pools & exchanges will be eligible for rewards. Last week we worked hard with our friends & partners at FTX/Alameda to resolve some minor technical delays related to the MEDIA unlock schedule. We want to thank them for their support & assistance in solving this. We also wanted to clarify that no MEDIA has been unlocked for any categories yet.
We’re pleased to share a full breakdown of the MEDIA token vesting schedule and emissions rates.
Since our Raydium AcceleRaytor launch, the Media Network Token (MEDIA) has garnered attention in the crypto space. We want to thank the community, the Raydium team, and our partners at Alameda Research for their continuous support and advice. As exciting as this is, we want to make sure that new investors, bandwidth providers, projects building on top of Media Network, and enterprises looking for CDN services understand all aspects of the token and the economics of the network before diving into the project.
While we’ve touched on tokenomics and vesting schedules at a basic level in the Media Network whitepaper, we have yet to give such an indispensable topic the deep dive it requires. Here we touch on the specific aspects of tokenomics to fully understand the MEDIA token emissions during the next seven years.
95% of all MEDIA tokens are locked up long-term; this means that the core players, including the seed investors, are committed to the project’s long-term success.
MEDIA Token Allocation
Expected allocation of pre-minted MEDIA supply (10,000,000) April 2028 (7 years from launch)
Below are the descriptions of each allocation.
Pre-Seed (1,000,000 MEDIA)
The Media Foundation raised a pre-seed in the winter of 2020 from our strategic partners: Alameda Research and Sam Bankman-Fried. All tokens are fully locked the first year with linear unlock during the next six.
Advisors (600,000 MEDIA)
Incentives for our growing network of advisors to continue their incredible support in various areas, helping to continuously push Media Network to new heights with their respective areas of expertise and experience. All tokens are fully locked the first year with linear unlock during the next six.
Liquidity (500,000 MEDIA)
100,000 MEDIA unlocked at launch for exchange liquidity. These tokens will be used to provide liquidity for multiple exchanges. The rest is fully locked the first year; linear unlock during the next six.
Pool (100,000 MEDIA)
The Media Foundation raised 1,000,000 USDC from the community in our recent Raydium AcceleRaytor launch distributing 100,000 MEDIA. A total of 74,000,000 USDC were deposited into both pools, while the unallocated 73,000,000 USDC were refunded back to the depositors. The price was fixed at 10 USDC per MEDIA. All of these 100,000 MEDIA tokens are unlocked and in circulation.
IDO (50,000 MEDIA)
MEDIA-USDC LP launched using 500,000 USDC from the public raise plus 50,000 MEDIA provided as initial liquidity for the AMM. All of these 50,000 MEDIA tokens are unlocked and in circulation.
Staking & Rewards (2,000,000 MEDIA)
Reserved for Staking Rewards (farms) & Media-Edge rewards as part of the S&R program explained in our original whitepaper.
222,358.8727 MEDIA will enter in circulation during six months since the IDO (April 29th 2021); as part of the Raydium Fusion Pool Emissions.
The remaining 1,777,641.1273 MEDIA are fully locked during the first year and will unlock linearly during the next seven years, remaining into the S&R contract along with the protocol’s revenue and distributed through multiple farms and for Media-Edge nodes as a reward for their bandwidth and resource contributions to Media Network.
Ecosystem & Partnerships (2,250,000 MEDIA)
To fund the development and accelerate user adoption of dApps and products within the Media Network ecosystem. This will include community grants to incentivize external developers to build new projects on the network. These funds will also be used for new partnerships with other projects, marketing, and promotions. Fully locked the first year with linear unlocks during the next six.
Team (2,000,000 MEDIA)
Team tokens are fully locked for one year from the TGE and then unlocked linearly during the next six as an incentive to remain committed to the project’s long-term success and to facilitate the team’s continued expansion over the years.
Tech & Infrastructure (1,500,000 MEDIA)
These tokens will be used for tech-related company acquisitions or mergers, bare metal dedicated servers, and also general networking costs to keep the network operational and healthy for the first years of existence. Fully locked the first year with linear unlocks during the next six.
Raydium Fusion Pool Emissions
Provide liquidity to the MEDIA-USDC pool and stake the LP tokens on the Raydium Fusion Pools to earn MEDIA rewards. Emissions will last 26 weeks since the 4/30/2021 launch, and 222,358.8727 MEDIA will be distributed to LPs stakers through the MEDIA-USDC Fusion Pool.
Google Spreadsheet: Media Network Token Distribution
About Media Network
Media Network is a protocol that foregoes traditional centralized CDN approaches and opts for a self-governed, community-powered alternative. We’ve created a decentralized bandwidth market that enables anyone to hire or provide resources from the network as the demand for last-mile content delivery fluctuates.
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