Jasmy (JASMY) tokenomics

JasmyCoin (JASMY) is an ERC-20 utility token built on the Ethereum blockchain, designed to power the Jasmy IoT platform. The project aims to democratize data by combining blockchain and Internet of Things (IoT) technology, allowing users to store their information in "Personal Data Lockers" (PDLs) and control how third-party merchants access it.

Issuance Mechanism

JasmyCoin has a fixed maximum supply of 50,000,000,000 (50 billion) tokens. While early documentation from 2020 and 2021 occasionally cited a much smaller supply of 50 million, the current operational supply is confirmed at the 50 billion mark. As of August 2024, approximately 99% of the supply is reported to be distributed, with a significant portion held by users on various exchanges.

Allocation Mechanism

The allocation of JASMY has been described differently across various project updates. The most recent and widely cited breakdown for the 50 billion supply includes the following categories:

Earlier versions of the allocation (based on the 50 million supply model) included specific segments for "Business Financing" (22.2%), "Listing Expenses" (8.36%), and "Airdrops" (10.44%).

Usage and Incentive Mechanism

The Jasmy ecosystem is designed to create a "data marketplace" where the token serves several primary functions:

• Service Fees: Paying for the use of the Jasmy platform and its associated IoT services.
• Data Access: Merchants and enterprises must use JASMY to purchase access to the data stored in users' Personal Data Lockers.
• User Rewards: Individual users receive JASMY as an incentive for sharing their IoT data with third parties.
• Medium of Exchange: Acting as a currency for products or services within the platforms of Jasmy’s partners.

Current Status Note: As of early 2024, project communications indicated that the full ecosystem is not yet fully operational. Consequently, the primary current utility of the token is for payment purposes, investment, and trading on exchanges.

Locking Mechanism and Unlocking Time

Jasmy utilizes a combination of cliff and linear unlocking schedules to manage the release of tokens into the circulating supply.

• Contributors and Community: 10 billion tokens were fully unlocked at token genesis in October 2021.
• Ecosystem: 24 billion tokens were technically unlocked at genesis but are designated to be distributed gradually as the business grows.
• Funds and Institutional Investors: This allocation followed a linear monthly unlock schedule. The distribution began in October 2021 and concluded in September 2023.
• Incentive Fund: 2.5 billion tokens were subject to a two-year cliff. These were scheduled to unlock in October 2023, contingent upon the achievement of specific (though undisclosed) milestones.

Additionally, the project has explored a "commercial deflationary" model. The theory suggests that as more organizations join the JasmyNet and lock tokens to access data, the circulating supply will effectively decrease, potentially creating upward pressure on the token's value. Recent roadmap updates also mention the development of staking functions and a "Carbon Credit Exchange" to further expand the token's economic footprint.