PolySwarm launched in 2018 with the Nectar (NCT) token, an ERC-20 token empowering cybersecurity professionals and enterprises to actively contribute and participate in our threat detection marketplace. The distribution of NCT reflects PolySwarm’s commitment to building a decentralized, community-driven platform. This post describes PolySwarm’s token allocations at launch and the token’s role within the cybersecurity ecosystem.
Initial Distribution of NCT Tokens
PolySwarm’s token release on March 29, 2018, established a total supply of 1,885,913,076 NCT. On that day, the total NCT supply was both fixed and fully released. We did not have a concept of vesting. The distribution aimed to support a broad range of stakeholders, including security experts, enterprise threat intelligence consumers, and the general public who help with cyber security tasks. Below is the breakdown of the initial allocation:
- Security Experts and Project Team: 435,210,709 NCT (23.08% of total)
- Presale Investors: 1,132,219,301 NCT (60.04% of total)
- Public Sale: 318,483,066 NCT (16.89% of total)
Market conditions during the public ICO led to presale and public sale tokens comprising 76% of the total NCT supply, creating a strong foundation of support for PolySwarm’s community and marketplace participants.
Current NCT Supply and Utility
PolySwarm retained a portion of the NCT from the original 435 million allocated to the project and security experts. The retained allocation supports PolySwarm’s ongoing engine partnerships and malware intelligence services.
Supply Details
- Max Supply: 1,885,913,076 NCT (fixed)
- Tokens in Circulation: 99.8% of tokens are now in circulation
NCT in Action
NCT powers PolySwarm’s marketplace, where security experts are rewarded for accurate threat intelligence, promoting a decentralized and collaborative approach to cybersecurity. This model not only incentivizes participation but also delivers high-quality, real-time threat analysis for enterprise clients.
In 2024, this distribution mode has paid off as NCT continues to incentivize security experts in providing rapid malware detection and intelligence to multiple blue-chip Enterprise clients.
