Total HNS Supply & Distribution at Genesis Block

Start here to learn more about what you need to do Handshake
Post Reply
handshakegod
Posts: 30
Joined: Fri Jan 15, 2021 8:42 am
Total HNS Supply & Distribution at Genesis Block

Post by handshakegod »

I've been on a bunch of Clubhouse Calls about HNS and newbies always ask about the tokenomics of Handshake and the initial coin distribution, which, then, the conversation gets confusing about burning coins, FOSS, etc.

Because of this, and there seemingly being no recent info to point to about the initial coin distribution I'm adding the info here.

In 2018 it was easy to find on the handshake.org site but is no longer available there in visual form.

Here is where to find the info as listed in 2018 (Screenshot below): https://web.archive.org/web/20180818141 ... w-it-works

Image
:lol: Hanshake God and life begins... :arrow: :roll: :!:
User avatar
skyinclude
Posts: 210
Joined: Thu Jan 14, 2021 1:05 am
Location: China
Contact:

Trusted Buyer

Re: Total HNS Supply & Distribution at Genesis Block

Post by skyinclude »

nice find - wonder why the page isn't there anymore.

Agreed about the messages / questions always about how many coins, availability, etc.

fingers crossed HNS gets into coinbase asap!
_____________
- SkyInclude/

https://skyinclude.com/ or HNS http://setup.skyinclude :mrgreen:

Image
cjj
Posts: 101
Joined: Tue Feb 02, 2021 1:03 pm
Re: Total HNS Supply & Distribution at Genesis Block

Post by cjj »

For more clarification, please read this 👍😊🤝 :

# Stakeholders

The principal function behind the Handshake mechanism is maximizing allocation
of ownership of tokens, coins, or non-fungible assets towards the most relevant
stakeholders. To make effective change, all relevant existing and future
stakeholders must be acknowledged. By maximizing correct stakeholder allocation,
one maximizes the efficacy of the change. In the case of Handshake, it is the
shift from centralized Certificate Authorities and naming, towards a
decentralized infrastructure.

All stakeholders are incentivized for development and growth of the project in
their own self-interested incentive. In order to do so, many of the individuals
require some ownership or value of the coins in order to establish sufficient
motivation.

These allocations are this paper's proposed allocations, and the Handshake
community will ultimately determine the final allocation in mainnet.

A total of 1,360,000,000 coins are minted in the genesis block to be distributed
to relevant stakeholders


## Pre-Launch Blockchain Development - 7.5%

This allocation goes to fund development across various stakeholders who have
been involved with creation of this project. These coins are used to pay for
work prior to mainnet launch and is the only source of development funds. A
iterated tit-for-tat game exists whereby there is self-interested benefit for
distribution of value ("the more I give away, the more value I accrue") across
many projects and development teams emulating this model.

## Financial Contributors and Pricing - 7.5%

A total of $10,200,00 USD have been allocated to purchasers to price the
initial value of the coins for 7.5% of the total supply, with a total valuation
of the initial coin supply at $136,000,000.

100% of the dollars raised are being given to non-profits and FOSS projects,
and FOSS communities such as hackerspaces. This is effectively a one-way
non-destructive "proof-of-burn" on the dollar side to price the coins.

The role of coin purchasers is critical as an initial stakeholder in the growth
of the project. The purchasers have been curated to maximize effective change by
primarily allocating funds to Venture Capitalists and Token Funds with specialty
in the cryptocurrency and decentralized internet ecosystem. Many of these
purchasers have been effective in disrupting entire industries and have been
involved in large-scale growth of internet services (some even across
generations).

The existence of these participants are necessary and fundamental in pricing the
tokens, as the distribution event requires real value to be established (a sale
of 1% of total initial supply is not credible in pricing the tokens).
Additionally, the sale has occurred as close to launch/announcement as possible.

Other projects replicating this mechanism may require greater capital to fund
development and/or greater claim to the Pre-Launch Development allocation. This
may result in not having a one-way "proof-of-burn", and instead use the
capital to fund development of the project.

The role of pricing the coins for distribution is necessary as the coins need to
have understood value during the distribution process. While it would ostensibly
be ideal to spin-up projects and deploy blockchains without this mechanism,
there may be insufficient coordination and ex-ante expectations of value. The
role of the high-reputation Venture Capital provides a tastemaker function which
provides a signal and Schelling Point for potentially economically and socially
valuable projects. These entities are a significant stakeholder in the current
ecosystem and a continuing game for project selection and curation may persist
as a result ("putting your money where your mouth is").

## Free and Open Source Software Developers - 68.0%

The free and open source community is the principal coin owner of the project
upon launch. These coins are distributed without any expectation of work. As
free and open source software is the principle of giving away code without any
direct financial return in exchange, similarly Handshake is about giving away
financial value without any expectation of code in exchange.

If the community is interested and Handshake becomes viable in the future, it is
possible (but without any obligation whatsoever, contractual or implied) for
individuals to have incentive to integrate the functionality into their own
software.

## Domain Name Holders - 10%

The Handshake blockchain will allocate all TLDs to the rightful holders upon
submission of a sufficiently secure DNSSEC proof on the blockchain.
Additionally, the Alexa top 100,000 domains were used and filtered (duplicates,
generic dictionary names) to over 80,000 non-generic names to be claimable as a
TLD via a DNSSEC proof. This way, all currently existing domains can work on
Handshake provided it is claimed in a timely manner, as all TLDs can be
claimable on Handshake by the owner of the TLD.

In addition to backwards compatibility with the existing domain name system,
coins are also provided to incentivize adoption by name holders. This creates an
incentive for name registration on Handshake. Unclaimed coins after the claim
period will be burned.

Some domain names may not be claimable until secure DNSSEC records (not SHA1
keyhash) are provided by the domain's TLD DNSSEC record, and there may be a
delay period before the coins are matured and available to use.

2.5% will be allocated to TLDs to be distributed evenly.

2.5% will be allocated to the top 100 Alexa names.

2.5% will be allocated to the Handshake reserved names (over 80,000 names) to be
distributed evenly. These names will also be able to claim a TLD on Handshake.

## CA/Naming Corporations and Other Blockchain Projects - 5%

The following corporations and projects are being allocated Handshake coins.
They have not acknowledged or accepted the coins at this time of writing. In
the event the coins are not claimed or accepted, these coins will not be
reallocated and are effectively burned. Some of these allocations may be only
redeemable by submitting a DNSSEC proof of their domain to the blockchain to
claim coins. There is no contractual expectation for any of these entities to
help the Handshake project in any way and is explicitly an obligation-free
distribution with no strings attached.

ICANN has been the root namespace for the internet. ICANN (CA, US) is allocated
24,480,000 of the initial coin supply by the Handshake community.

Cloudflare, Inc. (DE, US) is a corporation doing fundamental research for
naming, caching, and certificate authorities. They are allocated 6,800,000 of the
initial token supply.

Namecoin is a decentralized naming blockchain. 10,200,000 of the initial supply
was allocated to leading current and prior Namecoin developers.

Verisign, Inc. (VA, US) is the registrar for .com and .net. They are allocated
6,800,000 of the initial token supply. The .com and .net TLDs on Handshake will
be given to Verisign with a DNSSEC proof.

Keybase has been innovating in the naming and certificate authority space.
Keybase, Inc. (DE, US) are allocated 0.25% of the total token supply.

Public Internet Registry (VA, US) maintains the .org namespace. They are
allocated 3,400,000 of the initial token supply. The .org TLD on Handshake will
be given to PIR with a DNSSEC proof to pir.org.

Afilias plc (IE) has been the service provider for the .org namespace. They were
allocated 3,400,000 of the initial supply to a DNSSEC proof of afilias.info.
Note for both PIR and Afilias, this allocation was made before the proposed
sale of the .org namespace.

Brave is a browser which has cryptoeconomic incentives. Handshake allocated
3,400,000 to Brave Software, Inc. (CA, US). This is a distribution to the
entity owners itself, and is not an implied distribution to the Basic Attention
Token holders.

Namecheap is a large domain registrar and has support cryptocurrency in the
past. They were allocated 2,720,000 of the initial supply.

Godaddy (AZ, US) is a large domain registrar and has a Certificate Authority as
well. They were allocated 2,720,000 of the initial supply.

Blockstack is a corporation developing a naming blockchain as well as a
decentralized internet stack. The Handshake distribution allocated 408,000 of
the initial supply to Blockstack Token LLC (NJ, USA) under a DNSSEC proof for
blockstack.com. This is to the entity owners itself, and is not implied
distribution to the Blockstack Token holders.

ENS (True Names LTD (SG)) is developing an alternate naming root (.eth) using
an Ethereum smart contract. They were allocated 136,000 of the initial
Handshake coin supply to the entity running ENS (ens.domains).

GnuNet provides PKI infrastructure and provides identity via a DHT. They were
allocated 136,000 of the initial coin supply to gnunet.org (may require DNSSEC
upgrades on the .org namespace).

## Non-Profits and FOSS Projects - 2%

Not to be confused with the $10,200,000 USD given to non-profits and FOSS
projects, Handshake coins (HNS) will be given to some of those entities in
addition to the USD.



Source:https://handshake.org/files/handshake.txt

Post Reply