Designed for the MetaChain network, Metatime Coin (MTC) is used in blockchain-based products developed by Metatime and in hundreds of thousands of transactions. In addition to being used for asset transfers, this native token ensures that the supply-demand balance is maintained through its fixed burn formulas. The common denominator of every product developed in the ecosystem is Metatime Coin. Every transaction created within the ecosystem is controlled and calculated directly with the native token. Metatime Coin (MTC) has 10 pools when allocating its supply. The largest share belongs to the burn pool. The other 9 pools are team, reward, miner, liquidity, charity, MetaAirdrop, strategic sales, marketing, and staking pools.
What Is Metatime Coin (MTC) Burning? Which Methods Are Used?
In order to preserve the value of the native token, the supply-demand balance is maintained through the burning process. Two burning formulas are applied for this protection.
Auto-Burn regulates the supply-demand balance. Auto-Burn is a mechanism designed to maintain the continuity of the supply constraint, initially at a high level and then gradually decreasing. Thanks to this fixed burn mechanism, Metatime aims to protect its users financially and to increase the value of Metatime Coin (MTC). With the fixed burn formula, the maximum Metatime Coin (MTC) in the burn process is guaranteed to be removed from circulation in a minimum time, regardless of the user's initiative.
After each transaction on the MetaChain network, the fees paid are distributed to pools determined by the system. The Metatime ecosystem is one of the most transaction-cost-efficient networks. However, given the intensity of usage of the MetaChain network and the size of the ecosystem, transaction fee revenues are likely to increase. Therefore, a certain amount of Metatime Coin is triggered and burned daily at the rate set in the White Paper.
Metatime Coin’s (MTC) Tokenomics
The maximum supply of Metatime Coin is limited to 10 billion and cannot be increased. The distribution of 10 billion MTC according to pools is as follows:
40% Strategic Pool
4 billion Metatime Coin (MTC) reserved for burning are included in this burn pool. 40% will be burned dynamically in two years.
19% Team Pool
It represents 1.9 billion MTC reserved for Metatime’s founders and team members. (24 months cliff than 1000 days linear vesting)
5% Strategic Sales Pool
It represents 500 million MTC of Metatime Coin's planned sales.
- Seed Sale 1: 1% (250 days linear vesting)
- Seed Sale 2: 1% (250 days linear vesting)
- Private Sale 1: 1% (100% after 10 days cliff from TGE)
- Public Sale: 2% (100 days linear vesting)
10% Miner Pool
It represents 1 billion MTC reserved for miners. (2000 days linear vesting)
5% Reward Pool
Metatime Coins (MTC), which will be distributed to users who contribute to the Metatime ecosystem, are included in the reward pool. (5000 days linear vesting)
5% Liquidity Pool
Metatime Coins (MTC) reserved for different exchange listings processes are included in the liquidity pool. (Only for market making)
5% Staking Pool
It represents 500 million of MTC reserved for staking. (1000 days linear vesting)
8% Marketing Pool
It represents 800 million of MTC reserved for Metatime Coin marketing. (6 months cliff/ 500 days linear vesting)
2% MetaAirdrop Pool
It represents 200 million MTC which will be distributed with MetaAirdrop. (500 days linear vesting from 01.01.2024*)
1% Charity Pool
It represents 100 million MTC for charity and donation organizations. (1000 days linear vesting)
*30 million MTC tokens distributed as part of the MetaAirdrop in March, April, and May 2023 will be fully available for use on January 1, 2024.