Datawallet releases vesting contracts for team tokens
We just published the irrevocable vesting smart contract for all team tokens. The smart contract is publicly reviewable. This is just another step for the team to show we’re committed to the mission and vision of Datawallet.
As we previously announced, we will vest a significant portion of our team’s token to demonstrate our commitment to the long term vision of data sovereignty and Datawallet. During the token sale we communicated that we would lock 50% of team tokens for 1 year — however, our community voiced that they would appreciate a larger share being locked up. We listened and decided to vest 90% of the total team pool for 1 year instead! This includes tokens for future team members and advisors as well.
We have vested 90% of all team tokens for a period of 1 year from the date of the crowdsale using an irrevocable and public smart contract, which allows interested parties to verify the vested tokens by viewing the contract:
https://etherscan.io/address/0xe60d7723d5f0d4e53db4c0d07d548a2e9225b347
You will be able to observe the 300,000,000 DXT placed within the contract and also the conditions of the contract.
We are using the emerging standard in vesting contracts provided by OpenZeppelin:
https://github.com/OpenZeppelin/zeppelin-solidity/blob/master/contracts/token/ERC20/TokenVesting.sol.
This contract uses the onlyOwner pattern to ensure that only the creator of the contract can access privileged functions like revoke(). However, given that we want to ensure that this is a binding vesting, we have not given the owner this ability. To see the values of the key variables for the vesting contract, you can go here:
https://etherscan.io/address/0xe60d7723d5f0d4e53db4c0d07d548a2e9225b347#readContract
The duration of vesting is specified in seconds (1 year and 1 day = 31,622,400 seconds). The cliff is set for 1 year (the unix timestamp of which is 1549454400), from the start time of the closing of the crowdsale (unix timestamp 1517918400).
For more general information, please visit our website, our Telegram, or read the Datawallet whitepaper.
Datawallet — The future of data is user-driven.
