Token Distribution & Circulating Supply

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Token Supply and Distribution

The total supply of CLEAR is capped at 1,000,000,000 tokens.

Everclear structured its token distribution to prioritize long-term growth in the ecosystem. Crypto projects often require years of weathering various aspects of market cycles, and the distribution allocation strikes a balance between short-term incentives and long-term sustainability.

Everclear (prev Connext) allocated 11% of its tokens (107M) to the public during its initial distribution in September 2023. This portion was intended to reward the community of active participants prior to the distribution event.

The 22.4% for early backers, consisting primarily of investors, alongside 13.2% for ecosystem and strategic backers, aims to create a diverse stakeholder base that supports the development of the protocol as it grows from its infancy stage into a sustainable, self-supporting ecosystem.

The 11.9% allocated between Foundation and Labs is held to maintain the development of the protocol and operational needs to maintain the protocol’s infrastructure over time.

The 15.5% held by DAO is designed to ensure a wide base of ecosystem participants and foster decentralized growth of contributors to the ecosystem — often managing grants to a variety of parties committed to expanding Everclear’s adoption.

Distribution Overview:

Category	% of total supply	Number of NEXT
Early Backers	22.43%	224.34M
Ecosystem & Strategic Backers	13.23%	132.32M
Team & Advisors	17.72%	177.22M
Proxima Labs	2.81%	28.12M
Foundation	8.56%	85.56M
DAO	17.56%	175.57M
Airdrop	7.67%	76.72M
Ecosystem grants	10.02%	100.15M
Total supply		1,000M

How is Circulating Supply Calculated?

The circulating supply, as of Jan 8, 2025, stands at 20.75% of the total token supply.

Allocated to	Tokens Allocated	In circulation at Jan 8 2025
Early Backers	224.33M	23.61M
Ecosystem & Strategic Backers	132.31M	13.93M
Team & Advisors	177.21M	22.16M
Proxima Labs	28.11M	not circulating
Foundation	85.56M	not circulating
DAO	175.57M	not circulating
Airdrop	76.7M	65.5M
Ecosystem grants	100.1M	82.33M
Totals	1B	207.54M

Unlock Schedule Overview

Disclaimer: This is an illustrative graph and is not intended to serve as an exact representation of future token distribution.

The total blended unlock rate across the entire token allocation base is 3.0% over a period of 18 months. Accordingly, approximately 56% of the currently locked supply is expected to be unlocked within the same 18-month timeframe, with 53% comprising team and backers’ tokens and 3% allocated to other parties.

Each category of token holders is subject to varying lock-up terms and schedules based on various factors, including differing degrees of contribution, timing of contribution, milestones, and legal considerations.

Token Holder Category	Lockup Period	Release Type	Release Period
Early Backers	15 months	Linear	18 months
Ecosystem & Strategic Backers	15 months	Linear	18 months
Team & Advisors	15 months	Linear	18 months
Proxima Labs	Unlocked (Non-Circulating)	N/A	N/A
Foundation	Unlocked (Non-Circulating)	N/A	N/A
DAO	Unlocked (Non-Circulating)	N/A	N/A
Contributors, community leaders, DAO grant recipients (<7% of total supply)	12 months	Linear	12 months

How are Foundation and Labs tokens utilized?

The Foundation generally uses its tokens to incentivize the growth of the protocol, typically through business development/strategic partnership type arrangements, broader community building initiatives, and, most importantly, aligning long-term incentives of employees/contributors to Everclear Foundation. These token grants are typically set up with lock-up schedules, which is why they're excluded from circulating supply.

Proxima Labs is primarily responsible for the technical development of the protocol. As such, Labs employees are often rewarded with long-term token grants, subject to a lock-up period.

Data Definitions

Circulating Supply

We define circulating supply as the best approximation of the number of tokens that are actively circulating in the market and held by the general public.

In accordance with best practices, we exclude the following categories:

1. Locked Tokens: Tokens allocated to Team, Backers, and grants/airdrops that remain subject to lockup periods.

2. DAO-Allocated Tokens: Although technically unlocked, these tokens are earmarked for ecosystem grants and development, which may involve subsequent lockup conditions.

3. Foundation and Proxima Labs Allocations: Due to legal and operational restrictions, these tokens are primarily reserved for initiatives subject to lockups, such as:

   1. Employee incentives

   2. OTC fundraising

   3. Partnerships

DISCLAIMERS

THIS IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT RELY ON THE CONTENT HEREIN FOR ADVICE OF ANY KIND, INCLUDING LEGAL, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVICE, AND SUCH CONTENT IS NOT A SUBSTITUTE FOR ADVICE FROM A QUALIFIED PROFESSIONAL OR YOUR OWN RESEARCH. EVERCLEAR FOUNDATION AND ITS SUBSIDIARIES MAKE NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. ANY INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE.

NO PARTY HAS REQUESTED ANY RULINGS OR LEGAL OPINIONS ON THE TAX CONSEQUENCES OF THE NEXT→CLEAR TOKEN UPGRADE AND WHETHER SUCH AN UPGRADE MAY CONSTITUTE A TAXABLE TRANSACTION. THE TAX CONSEQUENCES OF THE UPGRADE MAY VARY BASED ON EACH NEXT HOLDER'S CIRCUMSTANCES, INCLUDING THE TAX RESIDENCE OF THE HOLDER AND THE PARTICULAR UPGRADE PATH USED FOR SUCH HOLDER'S NEXT (AUTOMATIC UPGRADE ON L2S VS. MANUAL LOCKBOX DEPOSIT ON L1). EACH NEXT HOLDER IS URGED TO CONSULT WITH, AND MUST RELY SOLELY ON, THE ADVICE OF THEIR OWN TAX ADVISORS REGARDING THE TAX CONSEQUENCES OF THE UPGRADE AND THEIR PARTICIPATION IN IT.