Dragonchain Team Token Distribution (TIME Burning)

Dragonchain has decided to redistribute Team holdings to a greater number of separate wallets.

In the process a large amount of TIME will burn, bringing the total TIME in existence down considerably. As a reminder, a total of 20% of all 433,494,437 Dragon tokens were set aside from the start for the Team.

Over 40 Billion (around 18% of current global amount) of TIME will burn due to this, up to 70 Million Dragon tokens will move.

These new wallets will form the basis of Team distribution over a 5 year lock period (backdated to an employee’s start date) and will gain TIME from day zero (when they are moved) to be used in an internal incentive program for employees to utilize their accrued TIME.

The addresses will remain under full control of Dragonchain, Inc. — it is not a direct transfer to employees/team members, and the Dragon transferred cannot be sold or exchanged within the period.

Expect to see transfers from the main Team held wallets beginning soon, as part of this redistribution.
If an employee leaves before they have completed their first year, they will not have any team tokens at all. For every additional year they stay with the company, their stake increases.