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The Expansion Campaign is Emblem’s multiyear roadmap, with a focus on:
• Launching Emblem 2.0
• Unifying the COVAL and FUEL communities
• Expanding Emblem Vault across all major blockchains
• Releasing new cross-chain applications and products
• Accruing value to the EMBLEM•VAULT•KEYS token
• Introducing new incentive and reward programs
By achieving these goals, Emblem aims to establish itself as the definitive protocol for transferring digital assets across on-chain ecosystems. Once these objectives are met and a solid infrastructure foundation is in place, the token layer can secure its role as the access, incentive, and reward layer of the most powerful cross-chain protocol in the industry.
If you’d like to read the context to the Expansion Campaign then please read review this post.
Emblem’s Expansion Goals
• Increase Total Value Vaulted (TVV) from $100M to over $1B
• Grow vaults minted from 100,000 to 1 million+
• Expand unique ownership from 22,000 to over 100,000 holders
• Extend from 3 blockchains to 15+ supported networks
Planned Blockchain Expansion
Emblem Vault is actively exploring deployments on the following blockchains (but is not limited to):
• Abstract
• Apechain
• Arbitrum
• Avalanche
• Base
• Bellscoin
• Bitcoin (CatVM, Counterparty, Ordinals, Tap)
• Bitcoin SV
• Binance Smart Chain
• Bitlayer
• Blast
• BoB
• Cardano
• Dogecoin
• Facet
• Flow
• Fractal
• Laika
• Litecoin
• Merlin
• Optimism
• Polygon
• Stacks
• Solana
• Sui
• Tron
With every new blockchain deployment, Emblem will introduce its groundbreaking “Jump” feature, enabling vaulted assets to transfer seamlessly to another chain with just a single gas transaction. For example, users can “Jump” a Rare Pepe vault from Ethereum to Solana or a CryptoPunk vault from Base to Bitcoin.
Collaboration and Partnerships
A critical objective for the Emblem team is to engage with and build partnerships across the application layers of each blockchain. By collaborating with protocols in DeFi, NFTfi, gaming, and the metaverse, Emblem will ensure vault owners can fully capitalize on the opportunities available in each ecosystem.
If you’re a blockchain operator, application developer, or project owner interested in collaborating with Emblem, please reach out to a team member or join our Discord for more information.
Upcoming Product Releases
In conjunction with the Expansion Campaign, Emblem will release a variety of new products, including but not limited to:
• Jump Feature
• API Vaults
• Smart Vaults
• Non-Custodial Vaults
• Bulk Minting Interface
• Emblem SDK Upgrades
• Boutique Storefronts
• Emblem Markets Integrations
• Emblem Vision Integrations
• Self-deployed Crosschain Collections
These products are designed to enhance the cross-chain experience for artists, creators, developers, traders, and users alike. Emblem 2.0 will provide a comprehensive stack of tools and capabilities for everyone navigating the cross-chain crypto landscape.
As Emblem Vault continues its expansion throughout 2025, a comprehensive KEYS program will run in parallel. This token unification and incentive campaign will be structured around five core components, each with its own set of gamified rules. The goal is to engage the diverse communities of Emblem and COVAL, reaching existing users while also attracting new participants, including observers, traders, farmers, and value seekers.
The KEYS program is expected to run for the entirety of 2025, with the aim of fully distributing EMBLEM•VAULT•KEYS by year’s end.
• Blockchain: Bitcoin
• Token Standard: Runes
• Supply: 10,000,000,000
• Etched: April 21
• Rune: #5078
KEYS was inscribed on Bitcoin within 24 hours of the Runes protocol launch. Emblem Vault has shown interest in Runes since its announcement in 2023 and has closely monitored its development since launch. The entire supply of KEYS was pre-mined and is currently held by Emblem.
EMBLEM•VAULT•KEYS Distribution Breakdown:
The distribution of EMBLEM•VAULT•KEYS will be allocated across five distinct categories. Some of these allocations are straightforward, while others have been meticulously planned over several months. The full details of certain programs may be disclosed in this document, while others will be unveiled gradually to encourage speculation, participation, and sustained interest.
Airdrops make up the largest allocation of the KEYS supply, accounting for 3,800,000,000 tokens. This allocation includes holders of COVAL, FUEL, and EmBells — all native Emblem communities whose tokens were created by Emblem at various points over its 10-year history. However, these aren’t the only communities, users, or participants set to receive a portion of this allocation. Additional details will be revealed as the Expansion Campaign progresses.
COVAL’s token lineage is one of the longest in the industry, dating back to 2014. RBR and COVALC will not be included in this airdrop, as both tokens have already undergone previous migrations.
Migration Process: COVAL to KEYS
1. Create a COVAL Timelock Vault: Users will create a timelock vault from the “COVAL Timelocks” collection on Emblem Vision.
2. Deposit COVAL: Users will deposit a specific amount — 5k, 50k, or 500k COVAL — into the vault and mint it.
3. KEYS Airdrop: Once vault minting closes, KEYS tokens will be airdropped into the Taproot wallet inside each vault.
4. Claimable Contents: Vaults will unlock at Bitcoin Block 920,000, at which point the contents inside each vault will be claimable.
5. Sunsetting COVAL: COVAL will be retired from the Emblem ecosystem and replaced with KEYS.
6. Vaulting Fee Discount End Date: The discounted vaulting fee for Timelock COVAL vaults will conclude when the Vaulting Program ends.
Timelock Vault Discount
Owning a COVAL timelock vault will grant additional utility. By locking specific amounts of COVAL, users will earn a discount on vault actions across the Emblem ecosystem (e.g., Minting, Jumping, Unvaulting) on all supported blockchains:
• 5k COVAL: 10% discount
• 50k COVAL: 25% discount
• 500k COVAL: 60% discount
Note: The current vaulting fee is $20.
We believe that combining a KEYS airdrop with vaulting discounts provides sufficient incentive to encourage maximum participation from COVAL holders in the timelock program. The KEYS airdrop will be weighted proportionally based on the amount of COVAL timelocked in each vault. For example, those who timelock 500k COVAL will receive a 100:1 ratio compared to those who timelock 5k COVAL.
COVAL is set to receive at least 15% of the total “Airdrops” allocation. If 50% or more of the total COVAL supply is locked by September 30, 2025, the total KEYS allocation for COVAL timelock holders will increase to 20%.
For the dedicated group of long-time FUEL holders, a portion of the total “Airdrops” allocation has been reserved specifically for you. No action is required at this time, and we are actively in contact with holders through the FUEL Telegram channel. If you hold FUEL and have not yet joined the channel, please reach out to an Emblem team member.
FUEL holders will receive their KEYS allocation on the same date as COVAL timelock holders, at Bitcoin block 920,000.
Holders of EmBells vaults will also be eligible for a KEYS airdrop. Currently, the only requirement is to hold an EmBells vault.
The KEYS airdrop for EmBells holders will be delivered directly into each EmBells vault at a later date to be announced.
Founder Vaults represent the second-largest allocation in the Expansion Campaign, with 2,000,000,000 KEYS tokens. These vaults will utilize the same timelock technology as COVAL Timelocks, operating as timelocked vaults. We’re excited to incorporate timelock vaults into two components of the Expansion Campaign, as we believe they have the potential to become a powerful DeFi product across various sectors.
With Founder Vaults, we aim to showcase how timelock vaults could be revolutionary as an on-chain “Token Vesting” solution. Founder Vaults are the crown jewel of the Expansion Campaign and will offer exclusive benefits, unique use cases, and utility unmatched by any other component. Those who acquire Founder Vaults demonstrate long-term belief not only in the Expansion Campaign but in Emblem Vault’s potential as a leading technology in the on-chain economy.
Key Details about Founder Vaults:
• Allocation: 20% of KEYS (2,000,000,000 tokens) will be distributed evenly across 1,000 Founder Vaults.
• Vault Content: Each Founder Vault will contain exactly 2,000,000 KEYS.
• Lock Duration: KEYS in Founder Vaults will remain locked until Bitcoin Block 915,000, estimated to be around September 20, 2025.
• Token Standard: Each Founder Vault will exist as an ERC-721 NFT within a dedicated “Founder Vault” collection on Ethereum.
• Transferability: As NFTs, Founder Vaults can be bought, sold, traded, transferred, and integrated into smart contracts. This enables KEYS to be traded even while “tokens are vesting”.
• Cross-Chain Compatibility: Founder Vaults can be “Jumped” to any blockchain Emblem expands to.
• Multi-Network Support: Each Founder Vault will contain a deposit address for Bitcoin Legacy, Bitcoin Taproot, Ethereum, Solana, Dogecoin, and Bellscoin.
• Program Benefits: Holding Founder Vaults earns points in the Vaulting Program.
• Exclusive Access: Founder Vault owners will receive first access to new Emblem products and extended premium services.
• Airdrop Potential: Additional digital assets may be airdropped into Founder Vaults as rewards or for future gamification.
The concept of tokenized token vesting is new to the crypto industry, and Founder Vaults introduce this in a transparent way. Traditionally, “vesting tokens” aren’t always locked, and in some cases, they are even sold before their official unlock date. Timelock vaults eliminate this risk by ensuring tokens are genuinely secure until the designated unlock date.
This approach also introduces on-chain speculation for vesting tokens before the Token Generation Event (TGE). Owners of Founder Vaults can sell their locked tokens on NFT marketplaces or use them as collateral on NFT loan platforms, unlocking liquidity for vesting tokens for the first time.
Additionally, tradeable locked tokens will help drive value to KEYS by generating on-chain volume during the vesting period. This allows users to speculate on the value of KEYS as Emblem expands to new blockchains, launches new products, and establishes partnerships. It creates a direct, on-chain valuation of Emblem’s progress by its earliest supporters and believers.
There will be five rounds of Founder Vault issuances, offered both privately and publicly, with the KEYS valuation per round remaining consistent across distribution methods.
• Round 1: Known as the “Family & Friends” round, this was privately offered to hundreds of early supporters, holders, and strategic partners. These vaults will be delivered in December 2024, allowing recipients to trade, hold, or utilize them as they choose.
• Fully Diluted Value (FDV): $6M
• Round 2: Opens on December 5, 2024. A portion of these vaults will be available for purchase directly on Emblem Markets and OpenSea, under the “Founder Vault” collection. For bulk purchases, large quantities, or to save on gas fees, please contact an Emblem team member, the official Emblem account, or visit the Emblem Discord.
• FDV: $9M
Founder Vaults will continue to be available throughout the Expansion Campaign to supporters, traders, funds, long-term believers in the Emblem ecosystem, and those interested in experimenting with this innovative technology.
The Vaulting Program represents the third-largest allocation in the Expansion Campaign, with 1,500,000,000 KEYS. Emblem users will be eligible to earn points that can be converted into KEYS upon program expiration. This program is designed to engage current Emblem vaulters, encourage participation in Emblem’s blockchain expansions, promote the use of Emblem products, and attract token farmers to the Emblem ecosystem.
While points programs are common in crypto, implementations vary widely. The Vaulting Program offers a unique opportunity for Emblem power users to earn KEYS through active participation, while also inviting cross-chain users who are eager to explore new technology. This approach generates excitement and interest from a broader audience beyond the regular community. The Vaulting Program will reward users who vault and trade assets across Bitcoin, Ethereum, Solana, and additional future-supported chains.
The Vaulting Program will run from Q1 2025 to Q4 2025. During this period, Emblem will deploy on new blockchains, support additional collections, and launch innovative products. Points can be earned through the following actions, among others:
• Minting a vault
• Jumping a vault
• Unvaulting
• Listing on Emblem Markets
• Holding vaults
• Interacting with new blockchains
• Engaging with new products
A unique bonus is available for participants in the Vaulting Program: by using the COVAL timelock discount, you can earn points while reducing vaulting fees. For more information, please refer to the COVAL Timelock section above.
As the third component to launch under the Expansion Campaign, the Vaulting Program will be the third to receive its KEYS allocation, following the unlocking of Founder Vaults and Timelock Vaults. Details about the mechanism for delivering KEYS to Vaulting Program participants will be shared at a later date.
The Community Growth is the fourth largest allocation in the Expansion Campaign, holding 1,400,000,000 KEYS. This reserve will fund initiatives such as:
• Exchange listings
• Liquidity pools
• Grant program
• Incentive programs
• Partnerships
The wallet holding these funds will be made public in 2025, following the start of the Vaulting Program.
Emblem Vault holds the fifth largest allocation, with 1,300,000,000 KEYS reserved in a team treasury to fund ongoing business operations and development.
The team’s allocation will be locked in a single timelock vault and is scheduled to unlock one year after the Token Generation Event (TGE), around September 20, 2026.