No pre-sale, no private investors, initial distribution via AMM.
A lot of tokens that have fair launches put all the circulating supply in the AMM at launch. This is problematic as it allows devs and early whales to buy a large percent of the supply right at launch.
TAO only provided 2% of the total token supply to the AMM at launch, the rest were either burned or locked in a staking contract that slowly emits TAO over time without ever minting a new token. Here are some benefits:
xTAO is the evolution of TAO. All holders were able to migrate their
TAO tokens for xTAO at a 1:1 swap rate. 16% of xTAO's total supply was
provided for this migration.