IDO-Locked & Future Drop Update
We want to provide an update on the distribution of IDO-Locked and Future-Drop tokens. Due to technical delays and current market conditions, we are closely monitoring the situation to ensure a fair and beneficial distribution for all participants.
The high staking rewards and resulting inflation have been a concern, especially with the current market conditions. We are addressing this by adapting the distribution of the IDO-Locked and Future Drop tokens, as well as other allocations to minimize inflation.
Additionally, our team has experienced delays due to issues with the Twitter API following Elon Musk’s takeover. We are actively working to ensure that everyone who participated on Twitter receives their rewards for the Future Drop tokens.
We want to assure the community that the tokens will still be distributed as initially promised, although with a delayed timeline.
We understand that the delay may be frustrating, and we sincerely apologize for any inconvenience caused. We want to reassure the community that the delay is not due to any improper or untoward actions on the part of the team or any other parties involved.
The delay applies to other token allocations, including those held by the team, which have also been delayed by an additional 12 months.
We assure you that you will be very excited once we can share the new tokenomics. We appreciate your patience and understanding, and we apologize for any inconvenience caused by the delay and will provide further updates as soon as possible.
Please find the new timeline for IDO-Locked and Future Drop below:
IDO-Locked Tokens
The IDO-Locked tokens have been reserved for those who participated in the first Free $VPAD IDO. With 20 million tokens allocated, these rewards will be distributed among participants proportionally to their share in the first free IDO in December 2021.
For example, if a user received 30 VPAD during the first free IDO, they will receive 20 VPAD from the IDO-Locked tokens.
Distribution for the IDO-Locked tokens is set to begin in January 2024 and will run for 12 months. Tokens will be claimable per month. The list of eligible members will be available closer to the distribution date. However, most participants will know their eligibility from the first free IDO.
Future-Drop Tokens
The Future-Drop rewards are dedicated to those who engaged and are engaging with VLaunch social channels, such as Twitter and Telegram. With a total allocation of 30 million tokens, 10 million tokens will be distributed for each year of active participation (2022, 2023, and 2024).
The Future-Drop tokens distribution will commence in January 2024 and will be distributed over 24 months. The tokens for 2022 and 2023 will be distributed throughout 12 months in 2024, while the tokens for the activity in 2024 will be distributed in 2025 over another 12 months. We will publish the winners for 2022 this quarter (Q2).
In the coming weeks, we will share detailed information about how points are generated through different actions. This information will help the community better understand how their engagement is being rewarded.
We appreciate your patience and understanding during this time. If you have any further questions or concerns, please do not hesitate to contact our team. While we acknowledge that some community members may be discontent with the new distribution timelines, please be assured that these decisions were made in the best interest of the project and the community.
Disclaimer: This announcement is subject to change and is not a binding agreement. VLaunch reserves the right to make changes to the token distribution schedule. While we will do our best to inform the community of any changes in a timely and transparent manner, VLaunch is not responsible for any losses or damages resulting from changes to the token distribution schedule. By participating in VLaunch activities, you acknowledge and accept the terms of this disclaimer.
