Tokenomics

Overview

The $TOPIA token is the native gas fee token of the HYCHAIN network. It also exists on the Ethereum L1 Blockchain and can be bridged between Ethereum & HYCHAIN.

Supply Cap

$TOPIA has a capped supply of 5,000,000,000 $TOPIA. There will never be more than 5,000,000,000 $TOPIA.

Circulating Supply

As of February 28th, 2024, the current circulating supply of $TOPIA is approximately 838,155,219 tokens. You can see the true circulating supply, which properly takes into account tokens in lockup & vesting contracts in real time, here: https://token-api.hychain.com/circulating

Fees & Sinks

HYCHAIN implements a wide variety of strategic fees and sinks across the ecosystem. Please see the Fees & Sinks page for more information.

Smart Contract (Ethereum)

The $TOPIA token exists on the Ethereum L1 blockchain, you can view it on Etherscan here: https://etherscan.io/address/0xccccb68e1a848cbdb5b60a974e07aae143ed40c3#writeContract

Supply Allocations Overview

HYTOPIA Ecosystem

HYTOPIA, a flagship game on HYCHAIN with over 1,100,000 players pre-registered, has been integral in developing and utilizing what are now becoming HYCHAIN's technology offerings to partner games.

HYTOPIA's development team also created HYCHAIN, further intertwining their ecosystems. The $TOPIA token, initially HYTOPIA's game currency, now also powers the broader HYCHAIN network.

46% of $TOPIA's supply is earmarked for the HYTOPIA ecosystem, to be gradually released over five years.

• Initial $TOPIA Airdrop: 500 million $TOPIA were distributed to HYTOPIA World holders in 2022, initiating the token's circulation.
• HYTOPIA World Staking: 1.75 billion $TOPIA are allocated for HYTOPIA World stakers over five years, from February 2022 to February 2027.
• HYTOPIA Avatar Staking: 50 million $TOPIA are set aside for HYTOPIA Avatar stakers over five years, starting in 2024. This program is not yet active.

HYCHAIN Foundation

The HYCHAIN Foundation controls 24% of the total $TOPIA supply, planned for linear unlock from February 1st, 2024 to February 1st, 2028. This allocation of supply is intended for the following:

• Gasless Relayer Network: The HYCHAIN Foundation is in charge of operating the gasless relayer network that all partner games and players on HYCHAIN have access to. It subsidizes gas fees.
• Strategic Partner Game Grants: The HYCHAIN Foundation may choose to provide incentives or grants to key games or existing partner games that meet specific KPIs (Key Performance Indicators).

Team

15% of the $TOPIA supply is reserved for the team, with a gradual unlock over four years that started August 1st, 2023. This equals roughly 1/48th of the total team allocation released monthly. Team vesting will be complete August 1st, 2027.

$LP-TOPIA Staking

10% of the total supply is dedicated to liquidity providers in the $TOPIA/$ETH pool across Ethereum and HYTOPIA networks. Providers receive $LP-TOPIA tokens, representing their share of the liquidity. Staking these tokens locks up liquidity for a period, in return for pool fees and a share of 500 million $TOPIA tokens distributed over four years.

Future improvements in $TOPIA distribution or market mechanisms could lead to the reallocation of unused $LP-TOPIA possibly being reallocated to the HYCHAIN Foundation or Node Operators rewards.

Node Operators

To support the HYCHAIN network, 250 million $TOPIA tokens are initially allocated to node operator rewards over three years, coinciding with HYCHAIN's mainnet launch and subsequent node sale. Operators must own at least one HYCHAIN Node Key to and maintain consistent operations of their node to qualify for rewards.

Additionally, node operators actively operating their node whom also own at least 1 Node Key proportionally split 25% of all HYCHAIN network fees as rewards.

Circulating Supply & Locked Supply

As of February 14th, 2023, approximately 4,122,364,513 $TOPIA is effectively locked and held across various vesting, system and team contracts and multisig wallets. The true circulating supply is approximately 877,635,487 $TOPIA, which is 17.5% of the total supply.

Locked Supply & Notable Addresses

The entire supply of $TOPIA has been minted relative to the supply cap baked into the $TOPIA contract, however the majority of tokens are still locked in various vesting & staking contracts as mentioned above per the unlock schedules.

You can find a list below of notable addresses that hold a large quantity of locked or reserved $TOPIA, and their purpose.