> For the complete documentation index, see [llms.txt](https://docs.thena.fi/thena/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.thena.fi/thena/the-tokenomics/initial-supply-and-emissions-schedule.md).
# Initial Supply and Emissions Schedule
## Initial Supply
### **veTHE Protocol Airdrop**
19% of the initial supply was dedicated to airdrop protocols that demonstrate their willingness to engage with our liquidity layer. When evaluating the available protocols, we have examined a wide range of factors, such as TVL, trade volumes, and product. We have also sought to find a balance between native BNB protocols and those from other chains.
List of protocols receiving the airdrop will be updated once finalized.
### THE/veTHE **Airdrop for Users**
25% of the initial supply was distributed to regular users of existing BNB Chain protocols, as well as those new to the chain through THENA. Users has been chosen based on behaviors that promote long-term stability of said protocols, such as: locking, stacking, holding, participating in governance, and continuing to support despite the challenges faced.
### THE/veTHE Airdrop for theNFT Minters
9% of the initial supply was allocated to `theNFT` minters and is claimable right at launch on THENA.
`theNFT` minters Airdrop balance between `$THE` and `veTHE`:
* *40% as* `veTHE` *locked for 2 years*
* *60% as* `$THE`
### **Ecosystem Grant**
25% of the initial supply was dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of THENA. Shortlisted projects will receive significant backing from the core team (smart contract development, marketing, business development, etc.).
### **Team**
18% of the initial supply has been distributed to the team to engage them in the long term success of THENA. The team allocation is balanced between `veTHE` and `$THE` vested tokens.
The core team members will have their interests align with THENA by receiving a percentage of the initial supply in the form of voted escrow tokens. This allocation allow team members to participate in the upside of the protocol while having a long-term oriented position.
Team allocation balance between `$THE`and `veTHE`:
* *60% as* `veTHE` *locked for 2 years*
* *40% as* `$THE` *vested 2 years* *with a 1-year cliff*
### **Initial Liquidity Providers**
4% of the initial supply have been paired with `$BUSD` and/or `$BNB` to provide enough liquidity at launch.
***
## **Emissions**
### **ve(3,3) Dynamics**
The main stakeholders of a typical AMM (on BNB Chain), including `veTHE` holders, LPs, users, and protocols, are all aligned by the ve(3,3) dynamics that determine THE emissions.
* **`veTHE` holders** — are incentivized to vote either for the highest volume pools (because the greater the volume, the greater the amount of fees produced as a result), or the ones on which protocols have deposited voting incentives to bootstrap their liquidity. This allows these protocols to create positive feedback loop, if the token generates strong volume.
* **Liquidity Providers (LPs)** — are incentivized with emissions driven by “Real Yield” based metrics.
* **Traders** — benefit from the low slippage thanks to the liquidity provided, in concert with the latest and greatest battle-tested vAMM / sAMM tech.
* **Protocols** — have access to a cooperation oriented liquidity layer. They benefit from capital efficient trading conditions for their tokens, and they can incentivize their liquidity via bribes offered to `veTHE` holders.
### **Emissions specifications**
* **Weekly emissions** *(at inception)*: 2,600,000 `$THE`
* **Weekly emissions decay**: 1%
* *Emissions for liquidity providers*: 67.5%
* *Weekly* `veTHE` *rebase*: 30%
* *Weekly developer wallet allocation*: 2.5%
* **Minting Event**: 25,000,000 `$THE` minted at Week97 fully allocated to `$THE` Binance Listing - HODLer Airdrop Campaign (*Including Airdrop and Listing Fee*)
* Binance PR: [Thena (THE) on Binance HODLer Airdrops](https://www.binance.com/en/support/announcement/detail/7c06e61804694408b3401e0a380f954f)
* Decentralised governance voting process: [THE-01](https://governance.thena.fi/#/proposal/0xe0734cf285f21e1c67b361b7f38d73be615853d0934495c5ec9da7d38bdfca12)
* **Maximum supply**: 335,000,000 `$THE`
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