Sublime Society #2: Tokenomics

“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.” ― Nikola Tesla

PLEASE NOTE THAT TOKENOMICS AND DISTRIBUTION MECHANICS HAVE BEEN UPDATED SINCE THIS ARTICLE WAS FIRST PUBLISHED. PLEASE REFER TO THE WHITEPAPER V1.0 FOR UP TO DATE INFORMATION.

You know, we’re just going to jump straight in.

Tokenomics Overview

Inspired by the words of Nikola Tesla’s theory of the universe, the tokenomics of Sublime Society is based around the following simple model:

• Contribute your ENERGY
• Raise your FREQUENCY
• Increase your $VIBES

Society members are free to focus their energy towards whatever group or part of the ecosystem they choose. Through actively engaging in sub-groups and projects, their frequency will be elevated as their contributions are validated by their fellow community members. The higher the frequency becomes, the more voting power they assume and the more rewards they receive: $VIBES.

About $VIBES

$VIBES is the native token of Sublime Society, which will not only be used to reward contribution and share profits, but to pay for products and services via the marketplace, content and art via the media platform, and classes through the education platform.

In the first instance, $VIBES will be launched on the Ethereum protocol, however it is anticipated that other protocols may be added in the future to expand the potential audience base.

Distribution

We are adopting a novel approach to the distribution of $VIBES that is fair and accessible to all. Initially, its focus is on rapid community growth and generating revenue to build the first iteration of Sublime Society.

• 30% will be allocated through a claim mechanic for holders of $LSVR [1]
• 30% will be distributed evenly across wallet addresses linked to a profile page who minted an SBT during the genesis minting phase [2]
• 30% will be distributed proportionally according to ETH voluntary donations [3] made during the genesis minting phase
• 10% will be allocated to the Sublime Foundation and amongst the 24 members of Sublime Productions, the collective responsible for the initial development of Sublime Society. There’ll be more info to follow on both of these entities.

[1] The claim period for $LSVR holders will last for 33 days. Your claim will be based on a snapshot of $LSVR wallet holders, the date for which is yet to be confirmed. All tokens that remain unclaimed after the claim period has ended will be burned.

[2] The Genesis minting period is an initial period during which participants will be able to mint their Sublime Society SBT. Dates TBC.

[3] ETH donations made during the genesis minting period will be allocated towards the development of the first iteration of Sublime Society platform development. Depending on levels raised some funds may also be allocated towards liquidity and buybacks/burns.

Taxation

It’s important to state that the following tokenomics are for the first iteration of Sublime Society ecosystem development. The contract will not be renounced as, in the future, the community may decide to change the terms of the contract by consensus.

To begin with, our aim is to create a simple structure that both appeals to investors and contributes revenue into the community war chest.

Essentially, this comes down to two components:

• 0% buy tax
• 3% sale tax (100% allocated to community controlled multi-sig wallet)

N.b. for tokens claimed or distributed during the Genesis minting period will be subject to a 33% sales tax, reducing 1% per day until over 30 days until reaching 3%.

Summary

As far as our tokenomics go, that’s about a wrap. Stay tuned for more activity in the Telegram channel and Discord server as well as further info about Sublime Productions and Sublime Foundation.

Thanks for reading, cool cats.

Sublime Society