CASE STUDY

Case Study — Protocol Token Launch: $12M Raised, 3,400 Holders,

Governance Live in 6 Months — A DeFi infrastructure protocol launched a governance token with 18-month team vesting, 4-year emission schedule, and community airdrop to 12,000 users.

$12M raise3,400 holdersDAO governance liveFixed supply model

Detailed answer

A DeFi infrastructure protocol launched with 100M fixed supply. Allocation: Community 40%, Treasury 25%, Team 15% (4-year vest/12-month cliff), Investors 15% (3-year vest/6-month cliff). Airdrop to 12,000 historical users. DAO governance live 90 days post-launch. Token price at 6 months: +18%. Project cost: $78,000. Timeline: 14 weeks.

Tokenomics Design

Total supply: 100,000,000 tokens. Allocation: Community (40%), Treasury (25%), Team (15%, 4-year vest / 12-month cliff), Investors (15%, 3-year vest / 6-month cliff), Ecosystem incentives (5%).

Emission: No inflationary emission. Fixed supply. Community allocation distributed through: retroactive airdrop (60% of community allocation to historical protocol users based on usage points), liquidity mining (20% over 24 months to LP token stakers), future grants (20% in treasury for grants program).

Governance:

ERC-20 with ERC20Votes. OpenZeppelin Governor (3-day voting period, 4% quorum, 0.1% proposal threshold). 48-hour TimelockController.

Stress Test Finding:

At 60% token price decline from launch, early investor selling pressure would exceed daily buy demand by ~3× in month 2. Mitigation: implemented a 6-month post-cliff lock-up on 50% of investor allocation (beyond the standard cliff) and added a buy-back fund (2% of treasury USDC) that activates automatically when token price falls below the 30-day VWAP × 0.6.

Results

MetricResult
Raise amount (private round pre-token)$12M
Airdrop recipients12,000 addresses
Unique holders at 90 days3,400
Governance proposals in first 6 months8
Quorum achieved7 of 8 proposals
Token price at 6 months vs launch+18%

Project cost: $78,000 (tokenomics + contracts + audit + DAO interface + airdrop tooling). Timeline: 14 weeks.

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