Understanding $TLX
The TLX governance token
$TLX is the native governance token of the TLX protocol.
Allocation
The total supply of 100 million $TLX tokens will be distributed as follows:
The team, investor, company reserve, and DAO treasury shares are all subject to a 1 year linear vesting period. Figure 4 illustrates the total emission schedule over four years following the TGE:
Genesis locking
Genesis locking $TLX will be enabled once the token is live. It will equip lockers with the right to participate in protocol governance.
Besides governance rights, genesis lockers receive liquid $TLX rewards during the initial 26 weeks after the token launch. The rewards will accrue linearly on a per-block basis and can be claimed by lockers at any time.
The lock period is 26 weeks, i.e., $TLX can be unlocked 26 weeks after locking it. Once unlocked, the tokens are migrated from the locker contract to the staker contract, whereby the user receives $stTLX in return. To convert $stTLX back to $TLX, the user needs to initiate the unstaking period of 5 days and subsequently unstake $stTLX for $TLX, as outlined in the staking section.
If a user locks more $TLX, after having previously locked an amount, the lock period resets to 26 weeks for all locked $TLX of that user.
Staking
Staking $TLX for $stTLX will be enabled once the core protocol is live. It will equip holders with the right to participate in protocol governance.
Unstaking $stTLX is subject to a 5-day unstaking period, i.e., once unstaking is initiated, it will require 5 days until $TLX tokens can be withdrawn.
A user can always stake more $TLX, irrespective of whether an unstaking period has been initiated, and can also initiate unstaking for partial amounts of $stTLX.
$stTLX holders will receive protocol fees once this has been enabled by governance. Fee participation will be halted during the unstaking period. For more details on protocol fees, please refer to the Fees section.
AMM inflation
A total of 10% of the $TLX supply is reserved to incentivize liquidity on AMMs. At first this will be the $TLX/ETH pool on Velodrome. In every epoch, $veVELO holders can receive $TLX by voting on the $TLX/ETH pool to receive an amount of $VELO inflation. For more details on incentives for Velodrome, please refer to the Velodrome docs.
The amount of $TLX allocated as incentives per voting epoch on Velodrome follows the same inflation curve as the inflation allocated to the $TLX bonding. The inflation decays every 20 days by 2.8%.
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