Vault Assets: Lock-up and vesting schedule + Instant claim
AWM is the governance token within Another World. This pivotal cryptographic contract will assist the ecosystem contributors inside the metaverse in claiming governance rights and galvanize users into smart contract activities. In this post, before we touch on every structural detail of the governance token for your comprehensive understanding, we advise you on the lock-up and vesting schedule for the assets kept in the vault.
LOCKUP & VESTING
In order to prevent everyone’s assets from the growing instability of the previous chain, all the digital assets including tokens and NFTs were kept in the vault. The assets will be distributed back to the holders accordingly to the announced schedule of the lock-up and vesting after the TGE(Token Generation Event). In addition, XTRA will be re-generated as XWD following the same vesting schedule as AWM, and all of your NFTs are claimable after the initial 1-year-lock-up period.
The main purpose of the lock-up and vesting is to strengthen the backbone of the project, to boost the growth of the project as well as its ecosystem, and to protect the value of assets of every contributing member by preventing a liquidity crisis.
The purpose of the 1-year lock-up is to secure price stability and empower project development.
With the TGE of AWM, 10% of your AWM in the vault will be eligible for claim, and the rest will be subject to a lock-up for 365 days. After the 1-year period, the rest of AWM will be distributed accordingly to the vesting schedule.
After the 1-year lock-up, the remaining 90% of your AWM will be distributed linearly within the course of 3 years(visual description above). The total and claimable amount of AWM will be available for check on the Another World Web App.
‘Instant Claim’ is an option to withdraw your AWM instantly from the vault within four years of lock-up and vesting. Besides the 10% of AWM distributed with the TGE, you can instantly withdraw the desired amount or all of your AWM through the instant claim. The instant claim will allow holders to withdraw 20% of the desired amount of AWM, and the other 80% will be instantly burned.
If you have 1,000,000 AWM, 100,000 AWM(10%) will be eligible for claim to your Metamask wallet connected to your vault account after TGE. The rest 900,000 AWM(90%) will be distributed throughout the vesting period once the 1-year lock-up ends. If you choose to ‘instant claim’ 300,000 AWM out of 900,000 AWM, you can claim 60,000 AWM(20%/300,000) and 240,000(80%/300,000) will be instantly burned. Finally, the rest 600,000 AWM will continue to be distributed throughout the remaining time.
We deliver immense gratitude to all the ecosystem contributors for displaying overwhelming and patient support towards Another World’s rebranding and growth. Lock-up and vesting serve the primary purpose of ensuring lengthened development of the project as well as solidifying the virtuous structure of the ecosystem and retaining the value of holders’ digital assets.