| Allocation category | Amount (VLX) | Share | Lock-up and unlock conditions |
| Presale | 30,000,000 | 3% | In circulation with no lock-up |
Public / Market (market circulation) | 70,000,000 | 7% | In circulation with no lock-up |
| Team | 50,000,000 | 5% | 12-month cliff after TGE, then linear unlock over 36 months |
| Early Investors / Private | 150,000,000 | 15% | Entire amount locked up for 24 months, then unlocked in equal parts over 10 months |
| Ecosystem & Carbon Rewards | 250,000,000 | 25% | 150,000,000: entire amount locked up for 24 months, then unlocked in equal parts over 10 months. 100,000,000: 12-month deferral after TGE, then distributed in equal monthly amounts over 48 months |
Foundation (operating entity treasury) | 230,000,000 | 23% | 150,000,000: entire amount locked up for 24 months, then unlocked in equal parts over 10 months. 80,000,000: held in multisig and operated for restricted purposes |
| Strategic Partners / BD | 70,000,000 | 7% | 6-month cliff after TGE, then linear unlock over 24 months |
| Strategic Reserve | 50,000,000 | 5% | Entire amount locked up for 24 months, then unlocked in equal parts over 10 months |
| Listing Liquidity | 50,000,000 | 5% | Used only for liquidity provision and market making on centralized and decentralized exchanges; counted separately from general circulation |
| Development / Contributors | 30,000,000 | 3% | 12-month cliff after TGE, then linear unlock over 36 months |
| Advisors | 20,000,000 | 2% | 6-month cliff after TGE, then linear unlock over 24 months |
| Total | 1,000,000,000 | 100% | No additional issuance |
Tokens committed to exchanges
and market making
| **50,000,000** | **5%** | The Listing Liquidity allocation. Used only for exchange liquidity provision and market making, and counted separately from general circulating supply | | **Foundation operating tokens that are unlocked but not in circulation** | **80,000,000** | **8%** | 80,000,000 VLX of the Foundation operating allocation. Unlocked, but held under multisig, purpose restrictions and internal approval, and not included in actual circulating supply | | **Total supply** | **1,000,000,000** | **100%** | Fixed supply issued in full at genesis. No additional issuance | | **Max Supply** | **1,000,000,000** | **100%** | The maximum amount that can be issued. Equal to total supply because there is no additional issuance. Once burning begins, the total amount available for circulation becomes smaller than this figure | #### Allocation Principles 1. The insider allocations (Team 5%, Development / Contributors 3% and Advisors 2%) total 10%. All of these tokens are expected to unlock on a linear schedule after their cliffs end, and none of them unlock at TGE. 2. Listing Liquidity tokens are provided only to third-party liquidity providers independent of the issuer and its related parties, and the issuer does not act as a trading counterparty. The contracts are disclosed, trading intended to move the market price is prohibited, and these tokens are counted separately from general circulating supply. Counting them separately, however, does not mean they are not traded on the market. 3. The 80,000,000 VLX Foundation operating allocation is used only for operating the Foundation treasury and for expanding the ecosystem. It is spent through a multisig wallet and an internal approval process, and it is managed so that the wallet address and major spending records can be made public. Sales on the market are subject to a separate approval process and a monthly spending limit, and the tokens are not used for personal compensation of officers and employees or for discretionary disposal. 4. The 250,000,000 VLX Ecosystem & Carbon Rewards allocation funds rewards for verified reduction activities, referral rewards and grants. Of this, the 100,000,000 VLX distribution pool is expected to unlock in equal monthly amounts over 48 months after a 12-month deferral from TGE. The amount unlocked each month is set as that month's limit for reward payouts, and actual payouts within that limit are determined by platform use, ecosystem contribution and verified carbon reduction activities. Tokens not paid out remain in the reward pool. The annual cap is set in Section 10.7. 5. No large-scale burn is planned at this time. Burns are expected to take place through the standing fee-based process in Section 10.4, and any burn of allocated tokens will be disclosed separately under the criteria in Section 10.4. #### Executing the Unlock Schedule VLX is a native coin and has no token contract exposed to the public. Lock-ups and vesting are therefore not enforced automatically by public contract code; **they are controlled through segregated wallet custody, internal approval procedures and public disclosure.** * Each allocation is held in separate wallets by purpose, and the main wallets are managed with multisig. * The unlock schedule is published in advance, and actual unlocks and transfers are disclosed. * Any change to the schedule goes through the procedure in Section 11.2 and is disclosed together with the reasons. The following will be finalized before listing and disclosed through official channels: * Allocation and lock-up wallet addresses, and the administrator permissions for each wallet * The TGE reference date * The distribution schedule and payout criteria for the 100,000,000 VLX Ecosystem & Carbon Rewards distribution pool * The approvers, spending limits and disclosure frequency for the 80,000,000 VLX Foundation operating allocation * The supply principles for each exchange and the dedicated wallet for the 50,000,000 VLX of Listing Liquidity * Separate disclosure of initial circulating supply, monthly circulable supply and actual circulating supply ### 10.3 Utility The VLX token is limited to the following four uses.  The VLX token is none of the following: a claim on the issuer's revenue or assets; a basis for paying dividends, interest or fixed returns; equity or a security carrying voting rights; or a guarantee of principal or value. Its value is determined by the market, and no price level of any kind is promised. Even if the governance voting right shown in the figure above is introduced, it is a feature for taking part in on-chain governance of protocol operations (see Section 11.4), not equity in or voting rights over the operating entity. ### 10.4 Fee Distribution and Burn Mechanism The VLX burn is a standing rule applied to fees that accrue to the protocol, and it is being prepared with the goal of launching in Phase 1. No large-scale burn of allocated tokens is planned at this time. If allocated tokens are burned, the amount and the reason will be disclosed separately from the usage-based burns described in this section.  The 50/20/30 split applies to fees that accrue to the protocol in VLX. Card issuing, acquiring and settlement costs that accrue to licensed partners, and costs paid to external networks, are not subject to the split (see Section 8.6). Once fees accrue to the protocol, they are allocated as follows: 50% burned · 20% sponsorship & ecosystem · 30% operations. The burn portion is sent to an address with no private key, which permanently removes it from the supply available for circulation. Once the rule is live, burn records can be viewed in the block explorer. **Notice on the scope of execution.** The fee types on the left of Figure 15 show which fees the distribution rule is to apply to, and the layer at which the rule is executed differs by type. How chain network fees are handled is set in the configuration of Value X Chain's independent EVM execution layer, while in-app swap, bridge and marketplace fees are handled under the smart contracts and operating policies of the features concerned. For each type, whether the rule is executed automatically by a contract or controlled through segregated wallets and an internal approval process will be finalized and disclosed. Until then, the 50/20/30 split in this section means an allocation rule applied to fees that accrue to the protocol; it does not mean the rule is already being executed automatically on-chain. The executing party, the related contract addresses and the go-live date will be finalized before listing and disclosed through official channels. These percentages apply only to fees and are separate from the token percentages in the allocation table. **On the operations share.** The 30% operations share is spent on the actual costs of maintaining the network, such as validators, relayers, settlement, development and security audits. Any amount above actual costs is revenue of the operating entity, and token holders have no claim to a distribution of it. ### 10.5 Environmental Sponsorship and Ecosystem Contribution (Impact Contribution) The 20% sponsorship and ecosystem contribution share is assigned under the same distribution rule as the burn. This rule is also being prepared with the goal of launching in Phase 1. * This 20% is divided into a share for sponsorship of environmental organizations and a share for ecosystem contribution rewards. * The sponsorship share is sent to the multisig wallets of organizations disclosed in advance, and the receiving wallet addresses and payment records are made public under the criteria in Section 11.3. The operating entity does not make these payments at its own discretion without going through the disclosure procedure. * The rewards share is used for activity rewards and referral rewards, and it is managed together with the Ecosystem & Carbon Rewards distribution pool (see Section 10.2). * The execution method and on-chain scope of this split are the same as stated in the notice on the scope of execution in Section 10.4. ### 10.6 Sources of Demand Demand for VLX comes from four sources: network use (fees are paid in VLX); enterprise data commits and proof issuance (Phase 2); card payments (starting once a partner is selected and integrated) and swaps and bridging (once routes open); and holding VLX for fee discounts. ### 10.7 Reward Unlock Cap (Emission Cap) An annual unlock cap is set to limit large one-off unlocks from the reward pool. The cap is derived from the unlock schedule in Section 10.2. The 100,000,000 VLX distribution pool in Section 10.2 is expected to unlock in equal monthly amounts over 48 months after a 12-month deferral from TGE. The newly unlocked amount is therefore about 2,083,333 VLX a month, **or 25,000,000 VLX a year**. This figure is the cap on what can be used for rewards in that year. No early unlocks above the cap take place, and this limit, too, is not enforced by contract but controlled through internal approval procedures and disclosure (see Section 10.2). If the number of participants surges, the cap is not exceeded; individual reward rates are adjusted instead. ***