“The BrightNode Team, with lead auditor Jimmy Toussaint, handled our audits in a professional and clear manner. Their expertise let us to make several subtle but important changes to the vesting and token sale schedule to improve the overall likelihood of success of the sale. Key risks were identified and discussed in detail, showing a broad thinking of economic and technical knowledge from their team.”“
Jack Tanner, CTO Tonomy Foundation
The client | Pangea and the Tonomy Foundation
Pangea is an innovative digital nation that uses blockchain technology to reshape global governance and economic frameworks. At the heart of its ecosystem, the LEOS token promotes transactions, engagement, and utility services. The Tonomy Foundation, a Dutch non-profit aiming to build a just world centered on human values, established Pangea and its technologies. Committed to its core principles, the Foundation involved BrightNode to conduct a strategic audit of the LEOS tokenomics, essential for the durability and expansion of Pangea’s token.
BrightNode’s contribution
BrightNode conducted a comprehensive audit of the LEOS tokenomics.
This initiative aimed to scrutinize and validate Pangea’s token economic model and distribution strategies, and to explore their potential market impacts.
The audit focused on several key areas:
- Initial Distribution and Vesting Schedules: Ensuring alignment with network growth and stakeholder expectations.
- Token Sale and Pricing Strategies: Examining mechanisms to ensure stability and successful sales post-token generation event.
- Token Circulation and Utility: Analyzing issuance, staking, rewards, and consumption within the ecosystem.
- Market Impact Assessment: Evaluating potential market reactions and volatility scenarios.
BrightNode employed a rigorous methodology combining quantitative and qualitative analysis to offer a holistic review of the LEOS tokenomics.
The audit revealed areas requiring adjustment to enhance economic sustainability:
- Simplification of Sales Mechanisms: Recommendations were made to simplify the initial pricing and sales mechanisms to mitigate post-launch selling pressure.
- Optimization of Vesting Schedules: Adjustments to vesting schedules were suggested to support network viability at launch.
- Strengthening Token Utility and Incentives: Enhancements in network utility scope and incentives for holding LEOS tokens were advised to ensure long-term viability.
The thorough audit by BrightNode has significantly enhanced the LEOS tokenomics.
The Tonomy Foundation’s quick adaptation to the audit’s findings through targeted modifications and initiatives reflects its commitment to transparency, sustainability, and active community involvement.
Pangea published an article on BrightNode’s audit which provides further details about the audit’s process and results, read more here.
Learn more about BrightNode’s Tokenomics consulting.
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