AMI, the native cryptocurrency of Amnis Finance, is set to make its debut on MEXC on March 26, with an airdrop of around 8% of its token supply for early adopters.
Amnis Finance, a liquidity staking protocol built on Aptos (APT), has announced the introduction of its governance token, which will initially be available on the MEXC cryptocurrency exchange starting March 26. The protocol has indicated that additional listings on other exchanges are forthcoming.
“Prepare to MOVE with the highly anticipated TGE events on Aptos! A new era for Amnis Finance is just around the corner,” the project shared in a recent statement.
As per the MEXC announcement, trading for the AMI/USDT (USDT) pair will commence on March 26 at 10:00 UTC. Users can start depositing the token now, though withdrawals won’t be available until March 27 at 10:00 UTC.
Furthermore, the token will also be accessible on MEXC Convert on March 26 at 11:00 UTC. MEXC Convert is a feature that allows users to swap cryptocurrencies instantly without incurring any fees.
Amnis Finance announced its plans to release a governance token on March 22, intending to empower its community within the broader Aptos ecosystem.
AMI will function as a governance token, granting holders the ability to vote on various decisions impacting the protocol, including structural adjustments to fees, delegation strategies, and partnership opportunities. Token holders will participate in the Amnis DAO Governance.
“By engaging in DAO governance voting, AMI holders play a crucial role in guiding the evolution of Amnis Finance, enhancing its efficiency and decentralization,” stated Amnis Finance.
Amnis Finance has ascended to become one of the leading liquid staking protocols within the Aptos DeFi landscape, boasting a staggering 1,882% year-on-year growth and solidifying its position as the fastest-growing protocol on Aptos, with over 28 million APT staked in the past year.
As per data from DeFi Llama, Amnis Finance ranks among the top three protocols on the Aptos Ecosystem based on total value locked. To date, the protocol has successfully staked 35.5 million APT, backed by over 446,000 stakers.
What does the AMI token distribution entail?
According to the official token release details, a total supply of 1 billion AMI tokens has been prepared. Approximately 8 million AMI will be allocated through an airdrop for early adopters in addition to future distributions.
From the total supply of 1 billion tokens, 20% will be assigned to the Amnis team, while another 20% is earmarked for community rewards aimed at incentivizing the use of current and upcoming products. The team’s tokens will become accessible after a one-year cliff period, followed by two additional years of gradual monthly vesting.
Simultaneously, 16% will be allocated to the ecosystem to support grants, partnerships, and other initiatives. Moreover, 16% will be designated for investors who contributed to the project’s funding, with 12% allocated to seed investors, 3% for private investors, and 1% for Key Opinion Leaders. Investor tokens will also be subject to a six-month cliff and a year-long linear monthly vesting period.
The remaining 20% will consist of 15% for marketing purposes and 5% dedicated to maintaining liquidity.