# CHOKE Token

## **$CHOKE at a glance**

**CHOKE** tokens are the representation of revenue shares on the **Artichoke** ecosystem, in which holders earn profits by staking and providing liquidity to the system, and are entitled to vote on governance decisions within the protocol. 

The **CHOKE** token overall metrics are as shown:

* **Max Supply:** 640,000,000 **CHOKE (Burnable)**
* **Initial Circulating Supply:** 76,800,000 **CHOKE** (12% Max Supply)
* **Initial Public Sale Price: USD** 0.0128
* **Launch: 5th** of **May** at 2PM GMT. Using **Modular's IWO** mobile and desktop UI. 

The initial price bonding curve used was similar to **Modular's Team** tier distribution equation (<https://modular.pk/Modular-IWO.pdf>, for reference):

$$P = ((Tier + 1) \cdot TierMultiplier) \cdot P\_i$$

With steps given by: $$Tier = \frac{i}{TierMultiplier}$$

In that sense, the *First Come, First Served* (FCSC) mechanism ruled the initial public sale. An slighter $$\Delta p$$ increment imitated an impact price buy on a UNI-V2 LP. Hence, price increments on each tier where not different on an exponential basis, and thus it was close to a *fair launch.*

The **Tiers** where capped by 100k USDC ranges. As tiers kept increasing on constant steps, the **CHOKE** price increased according to $$P$$ formula. In that sense, the first buyers got the best price rate of the **CHOKE** token.

## About Tier 1 - Whitelist&#x20;

**CHOKE** initial price at **Tier 1** was available for **MOD** token holders (*Contract ID*: 0x244Ae62439C1Ef3187f244d8604ac2c391eF2b53). Owning over 1k MOD on your wallet allowed you to buy on the first Tier, with time requirements.

## Distribution

As stated before, **CHOKE** will be the token that rules the **Artichoke** ecosystem. It will gain value according to the protocol usage and from the fees and rebates generated on the different **LPs**.

It's initial price will be **USD 0.0128** and LP pool price will rely on how the public sale goes.&#x20;

For every vault deployed over the platform, **CHOKE** will boost rewards within the **LP** pairs $$x$$ and $$y$$. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake and hodl **CHOKE (see** [product-overview-from-the-user-perspective](https://artichoke.gitbook.io/abstract/protocol-architecture/product-overview-from-the-user-perspective "mention") for reference)

After initial circulating supply, the token will be distributed in the following way:

* **10% for Team (Locked and vested)**
* **5%  for Growth and Marketing**
* **25% Ecosystem Fund**
* **20% Public Sales**
* **40% for LP**

##


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://artichoke.gitbook.io/abstract/token-metrics/choke-token.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.