Jasmy (JASMY) tokenomics

JasmyCoin (JASMY) is an ERC-20 token built on the Ethereum blockchain, designed to power the Jasmy IoT platform. The project aims to create a decentralized environment where users can control their own data through "Personal Data Lockers" (PDLs). While the project has outlined extensive utility and incentive structures in its documentation, recent updates indicate that many of these functions are not yet operational.

Issuance Mechanism

JasmyCoin has a fixed maximum supply of 50,000,000,000 (50 billion) tokens. The issuance was designed to distribute these tokens across various stakeholders to support the growth of the IoT ecosystem. As of early 2024, reports indicate that approximately 99% of the supply has been distributed, with a significant portion held by users on various global exchanges.

Allocation Mechanism

The allocation of JASMY has been subject to different disclosures in various project documents. Based on the most consistent data from project communications in late 2021 and early 2022, the 50 billion tokens were allocated as follows:

Note: Some historical documents from 2020 and early 2021 listed a much lower maximum supply of 50 million tokens, but the project eventually standardized on the 50 billion figure.

Usage and Incentive Mechanism

The Jasmy ecosystem is designed around the exchange of data value between users and third-party merchants.

Planned Utility

• Service Fees: Paying for the use of the Jasmy platform.
• Data Access: Merchants must pay JASMY to access data stored in a user's Personal Data Locker.
• Medium of Exchange: Using tokens to purchase products or services from Jasmy partners.

Incentive Structure

• Data Rewards: Users are intended to receive JASMY as a reward for selectively sharing their IoT data with specific merchants.
• Business Contributions: Tokens from the "Incentive" allocation are reserved for rewards related to platform development, financial activities, and business creation.

Current Status: As of August 2024, the ecosystem is not yet fully operational. The primary current utility for JasmyCoin is for payment purposes, investment, or trading on exchanges. Active functions for paying for data access or earning rewards through PDLs are not currently live.

Locking Mechanism and Unlocking Time

The project implemented specific vesting and locking schedules to manage the market entry of tokens:

• Contributors and Community: These tokens (10 billion) were fully unlocked at token genesis or by October 2021.
• Ecosystem: This allocation (24 billion) was initially locked with the intention of being distributed as the business grows.
• Funds and Institutional Investors: These tokens were subject to a linear daily unlock schedule. The distribution began in October 2021 and concluded around September 30, 2023.
• Incentive Fund: These tokens (2.5 billion) were designed with a cliff mechanism. They were scheduled to unlock two years after token genesis (approximately October 1, 2023), contingent upon the achievement of specific milestones.

As of late 2024, the vast majority of the token supply is considered circulating, with the top 10 wallet addresses holding approximately 35.89% of the maximum supply.