> For the complete documentation index, see [llms.txt](https://artichoke.gitbook.io/abstract/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://artichoke.gitbook.io/abstract/token-metrics/choke-token.md).

# 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](/abstract/protocol-architecture/product-overview-from-the-user-perspective.md) 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**

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