ES tokenomics
ES is the ElysiumSwap token. It's built for one job first: attract deep, lasting liquidity to a new DEX, and then share the revenue that liquidity earns with the people who commit to it long term.
Launching
Contract addresses, the sale start and its exact prices are added here at launch.
| Ticker | ES |
| Total supply | 1,000,000,000, fixed. No minting after launch |
| Chain | Elysium |
| Circulating at launch | 167.5M (16.75%) |
| Fully unlocked | after 6 years |
Allocation
Allocation of 1,000,000,000 ES
Share of total supply by bucket
- Liquidity incentives35% 350M
- Treasury & ecosystem17.5% 175M
- Team & contributors15% 150M
- Price-discovery sale10% 100M
- Backers10% 100M
- Community airdrop7.5% 75M
- Protocol-owned liquidity5% 50M
| Bucket | Share | ES | Unlock |
|---|---|---|---|
| Liquidity incentives | 35% | 350,000,000 | Released weekly at an even rate over 6 years (58.3M a year) |
| Treasury & ecosystem | 17.5% | 175,000,000 | 10% at launch, the rest monthly over 6 years |
| Team & contributors | 15% | 150,000,000 | Nothing for 12 months, then monthly over 5 years |
| Price-discovery sale | 10% | 100,000,000 | Liquid at launch: it's what the market buys |
| Backers (private sale) | 10% | 100,000,000 | Nothing for 4 months, then monthly until month 14 (about 10M a month) |
| Community airdrop | 7.5% | 75,000,000 | Nothing for 45 days, then 20% at once and the rest monthly until year 6. For traders, token launchers and liquidity providers on ElysiumSwap and ElysiumPad |
| Protocol-owned liquidity | 5% | 50,000,000 | Paired with HYPE at launch; the position is locked for good |
More than half the supply (52.5%: incentives plus the treasury) goes to growing the protocol. Insiders (team and backers) hold 25%, and none of it unlocks in the first 4 months.
Unlock schedule
Circulating supply over 6 years
17% at launch · 36% after 1 year · 63% after 3 · 100% after 6. Hover for any month.
- Liquidity incentives
- Treasury & ecosystem
- Team & contributors
- Price-discovery sale
- Backers
- Community airdrop
- Protocol-owned liquidity
| Bucket | Launch | Month 6 | Year 1 | Year 2 | Year 3 | Year 4 | Year 6 |
|---|---|---|---|---|---|---|---|
| Liquidity incentives | 0 | 29.2M | 58.3M | 116.7M | 175M | 233.3M | 350M |
| Treasury & ecosystem | 17.5M | 30.6M | 43.8M | 70M | 96.3M | 122.5M | 175M |
| Team & contributors | 0 | 0 | 0 | 30M | 60M | 90M | 150M |
| Price-discovery sale | 100M | 100M | 100M | 100M | 100M | 100M | 100M |
| Backers | 0 | 20M | 80M | 100M | 100M | 100M | 100M |
| Community airdrop | 0 | 18.8M | 24M | 34.2M | 44.4M | 54.6M | 75M |
| Protocol-owned liquidity | 50M | 50M | 50M | 50M | 50M | 50M | 50M |
| Circulating | 167.5M (16.8%) | 248.6M (24.9%) | 356M (35.6%) | 500.8M (50.1%) | 625.6M (62.6%) | 750.4M (75%) | 1,000M (100%) |
Lockups
- On-chain vesting. Every locked allocation (team, backers, treasury, airdrop) sits in a vesting contract on Elysium. Anyone can check what's locked and when it releases; no one can speed it up.
- Six years. Incentives, treasury, team and airdrop all finish vesting at year 6. The private sale vests over 14 months; the public sale (bought on the market) and protocol-owned liquidity (locked in the pool for good) don't vest.
- Team: a 12-month cliff, then monthly for 5 years. The team is paid for building ElysiumSwap over six years, not for launching it.
- Private sale: a 4-month cliff, then monthly until month 14. Backers buy at a fixed price before launch; nothing is unlocked during the launch window, and they can lock their ES as veES to vote and earn.
- Airdrop: a 45-day cliff. Nothing is claimable at launch. On day 45, 20% unlocks; the rest unlocks until year 6 and is paid out weekly. See Airdrop.
- Protocol-owned liquidity is never withdrawn. The launch liquidity position is locked permanently, so ES always has a market.
Airdrop
The 75M ES airdrop rewards people who use ElysiumSwap, every week. Nothing is paid at launch; it starts on day 45.
| Pot | Share | Earned by |
|---|---|---|
| Trades | 1/3 | your trade volume through ElysiumSwap (its own pools and its cross-DEX routing) |
| Launches | 1/3 | the trade volume of the tokens you launched on ElysiumPad |
| Liquidity | 1/3 | pool volume × your share of the pool's liquidity, i.e. the fees your liquidity earned (v3 positions only while in range) |
- Weekly epochs, the same Thursday-to-Thursday weeks as veES votes. Each week, the airdrop that unlocked is split into the three pots and shared out in proportion to that week's activity.
- Day 45 first. Activity from launch up to day 45 is counted and paid in the first distribution, when 20% (15M ES) unlocks. After that, about 0.85M ES a month (roughly 0.2M a week) until year 6.
- Claims. Amounts are published each week as a Merkle root; you claim any time, and unclaimed amounts accumulate. The contract can never pay out more than it has received from vesting, and each new root waits 24 hours before it can be claimed against, so a wrong one can be stopped.
- Fair weighting. Volume is measured in USD at the time of the trade. Wash trading costs fees on every trade, and liquidity counts only while it's actually providing liquidity.
Launch: price discovery that builds liquidity
ES launches through a single-sided sale on ElysiumSwap v3, the same mechanism ElysiumPad uses for launches. No separate sale contract is needed, and every HYPE paid stays in the pool as liquidity.
Sale ranges. 100M ES go into ES/HYPE v3 positions placed above the starting price, in three ranges:
Range ES Price per ES 1 40M from the starting price to 2× 2 35M 2× to 4× 3 25M 4× to 10× Buyers move the price up through each range. The price rises only as demand fills them, and the HYPE they pay becomes the pool's liquidity.
Protocol-owned liquidity. 50M ES go into full-range ES/HYPE and ES/USDC positions at the starting price, paired with HYPE and USDC from the treasury. ES can be traded at any price from day one.
A modest start. The starting price puts the fully diluted value in the low millions of dollars, in line with Elysium's liquidity today. A launch that starts low and grows is healthier than one that starts high and bleeds.
No allocations, no whitelist. Everyone buys from the same pool at the same prices.
Liquidity incentives
Liquidity incentives: an even release
The same amount every week for 6 years: no front-loading, no cliff at the end
| Year | ES released | Share of the 350M |
|---|---|---|
| Each of years 1–6 | 58.33M (about 1.12M a week) | 16.7% |
Rewards are released weekly from launch, at the same rate for all 6 years. A steady release keeps sell pressure predictable and gives LPs the same reason to stay in year 6 as in year 1; as volume grows, trading fees add to what LPs earn on top of it.
- veES decides where they go. Each week, veES holders vote on how the week's rewards split across pools (gauges).
- Rewards follow real liquidity. Within a pool, LPs earn in proportion to their liquidity and how long it stays. v3 positions earn only while in range, the only time they're actually liquidity for traders.
- Caps. No single pool can take more than 25% of a week's rewards, and pools that earn little in trading fees per ES of rewards can be capped further by governance. Rewards should buy volume, not just parked TVL.
veES: lock, vote, earn
| Lock | ES for 1 week to 4 years, from launch; the lock is an NFT |
| Voting power | proportional to amount × time left (4 years = full weight), decaying as the lock nears its end |
| Gauge votes | each week, veES directs the next week's incentives across ElysiumSwap pools. Votes last one week, so locks vote again each week; a lock that has voted can't be moved or withdrawn until the week ends |
| Bribes | anyone can reward the voters of a pool: launchpads, tokens and partners pay for liquidity where they need it |
| Rewards | v2 LPs stake in the pool's gauge; v3 positions earn through Uniswap's v3 staker, only while in range |
| Revenue | veES holders receive 50% of protocol revenue |
This is what makes ElysiumSwap the place to get liquidity on Elysium. A launchpad (or any token) that needs deep markets bribes veES voters to direct ES rewards to its pools. ES holders earn from both the revenue and the bribes, and long-term holders control where liquidity goes.
Revenue
Where protocol revenue goes
v2/v3 protocol fees, the 0.1 % routing fee and ElysiumPad's share of launch fees
- veES holders · 50%
Bought-back ES or HYPE/USDC, paid each epoch - Protocol-owned liquidity · 30%
Added to ES/HYPE and ES/USDC, deepening ES markets - Treasury & operations · 20%
Audits, infrastructure, grants
ElysiumSwap already earns revenue from:
| Source | Rate |
|---|---|
| v2 protocol fee | 1/6 of the 0.3% swap fee (0.05% of volume) |
| v3 protocol fee | 1/6 of each pool's swap fee |
| Cross-DEX routing fee | 0.1% of trades routed through other DEXes' pools |
| ElysiumPad | 30% of launch-pool trading fees |
From launch, all of it is split:
| Destination | Share | |
|---|---|---|
| veES holders | 50% | ES bought back on the market, or HYPE/USDC, paid each weekly epoch |
| Protocol-owned liquidity | 30% | added to ES/HYPE and ES/USDC, so ES markets deepen on their own |
| Treasury & operations | 20% | audits, infrastructure, grants |
Roadmap
| Phase | What happens |
|---|---|
| Launch | ES deployed with every allocation in its vesting contract; price-discovery sale; protocol-owned liquidity; veES staking, gauge votes and bribes; revenue sharing to veES |
| Day 45 | First airdrop distribution (20%): trades, launches and liquidity since launch; then weekly until year 6 |
| First months | Weekly gauge votes steer rewards to the pools that bring the most volume; launchpads and tokens bribe for liquidity |
| +12 months | Governance: veES holders set fees, the treasury budget and gauge caps; admin roles move from the team's wallet to on-chain governance |
| Ongoing | Revenue grows protocol-owned liquidity; trading fees grow on top of the steady incentives |
Guardrails
- Fixed supply. 1,000,000,000 ES, minted once. No inflation beyond the schedule above.
- Public vesting. Every lock is on-chain and visible; the team's tokens are among them.
- Spending in the open. The treasury is held by the ElysiumSwap owner wallet until governance takes over, and every spend is published.
- Permanent liquidity. Protocol-owned liquidity can't be withdrawn.