AMI Launches on MEXC Exchange with 1 Billion Token Allocation

The native token of Amnis Finance, AMI, will be introduced in the market via MEXC on March 26. An amount equivalent to 8% of its total token supply will be distributed to early adopters through an airdrop.

Amnis Finance, an Aptos (APT) liquidity staking protocol, revealed the launch of its governance token with an initial listing on the cryptocurrency exchange MEXC on March 26. The protocol suggested that the token will be listed on additional exchanges soon.

"Get ready to MOVE with the most anticipated TGE events on Aptos! A new chapter for Amnis Finance is about to start," stated the project in its recent post.

According to the MEXC notice, the exchange platform will enable trading for the AMI/USDT (USDT) trading pair starting on March 26 at 10:00 UTC. Users can start depositing the token following the announcement, but withdrawals will only be possible after March 27 at 10:00 UTC.

Furthermore, the token will be accessible on MEXC Convert on March 26 at 11:00 UTC. MEXC Convert is a feature on MEXC that allows users to instantly swap cryptocurrencies without any fees.

Amnis Finance initially announced its intention to launch a governance token on March 22, aiming to empower the Amnis community within the broader Aptos ecosystem.

AMI will function as a governance token, granting holders the ability to vote on decisions related to changes in the protocol. These decisions encompass structuring protocol fees, updating delegation strategies, and forming partnerships, among others. Holders of the token will be part of the Amnis DAO Governance.

"By participating in DAO governance voting, AMI holders help guide the growth of Amnis Finance, making it more efficient and decentralized," wrote Amnis Finance.

Amnis Finance has expanded to become one of the largest liquid staking protocols within the Aptos DeFi ecosystem. The protocol has achieved a growth rate of 1,882% year-on-year, making it the fastest-growing protocol on Aptos, with over 28 million APT staked within a one-year period.

Based on data from DeFi Llama, Amnis Finance currently holds the third position in the ranking of protocols on the Aptos Ecosystem in terms of total value locked. In total, the protocol has staked 35.5 million APT from more than 446,000 stakers.

What is the distribution of the AMI token?

According to Amnis Finance's official token release article, the protocol has prepared a total token supply of 1 billion AMI. Approximately 8 million AMI will be distributed to early adopters and set aside for future distribution.

Out of the total 1 billion tokens, 20% will be allocated to the Amnis team, while another 20% will be reserved for community rewards to encourage the usage of Amnis' current and future products. Team-allocated tokens will be unlocked after a one-year cliff period and followed by two more years of linear monthly vesting.

Meanwhile, 16% will be designated for the ecosystem to fund grants, partnerships, and other initiatives. Another 16% will be allocated to investors who provided funding for the project, with 12% going to seed investors, 3% to private investors, and 1% to Key Opinion Leaders. Investor tokens will be subject to a six-month cliff period and a year-long linear monthly vesting schedule.

As for the remaining 20%, 15% will be allocated to marketing and 5% will be used for maintaining liquidity.