End of Distribution Announcement
Private sale vesting has come to an end. Token circulation and metrics links updated, and 2018–2019 token spend confirmed.
Dear Dusk Community,
November 30th, 2018 we successfully closed our private sale. Now, a year later, our novel second-by-second vesting set-up has fully concluded. During this period our team has grown and worked tirelessly to bring Dusk Network from DevNet to the advanced technology that it is today.
With vesting of the private sale tokens out of the way, there are now 250M — private sale — Dusk Network tokens in circulation, presenting us the perfect opportunity to update our info on all third-party websites such as CoinMarketCap and CoinGecko. The supply.dusk.network website is up-to-date and keeps track of the circulating supply on a real time basis.
At Dusk Network we have always strived to lead the space, and this includes taking corporate responsibility and being as transparent as is commercially viable. On top of our frequent communications around fin/dev/biz we have created a new page where information on Dusk Network’s Token Metrics is aggregated.
Now that the private sale vesting has concluded it becomes even more important that the token reserves are used and monitored with utmost care, and we feel this demands additional transparency and visibility. The page provides insights into the reserve budgets (a visualization of the data of our earlier token stats blog) and shows the amount of tokens that are vested (theoretically unlocked). The actual spend for all budgets is a lot lower, or none.
The “Currently Unlocked” column indicates the amount of tokens that have been vested (meaning they are no longer subject to any vesting or lock). Without diving too much into the methodology, tokens that are currently unlocked (vested) but still in team controlled wallets, are not counted towards the current supply metric. You can read more about the lock and vesting schedules here.
We are proud to confirm that Dusk’s 2018 + 2019 token spend has been kept to an extremely low 7,393,427 tokens. The majority of these tokens are held by our developers who all opt for partial token remuneration, often for the long term. Other costs include; building partnerships and network both in- and outside the crypto industry, creating a healthy exchange environment (e.g. market makers), and our advisors. We will continue to keep this diligent mindset and use the reserves for direct value-add to Dusk Network.
We are close to a Q4 2019 launch of the Dusk Network Mainnet! And while some of you know that we’ve been in Testnet V2 for quite some time now, in our Development Update next Thursday (December 5th 2019) we explain in more detail some of the hurdles we tackled this past month in order to complete this phase. The road to the Dusk Network launch is clearly paved, and we can’t wait to release Mainnet V1 and show a number of features not yet seen before in the cryptocurrency space. Stay tuned!
Dusk — Technology for Securities
Dusk Network is an open-source and privacy-oriented blockchain based on years of academic research. You can use Dusk Network to create smart contracts that control digital assets and securities.