Etherparty Distributes FUEL to Team Following Lockout Period
It’s HODL time!
For the uninitiated, ‘HODL’ is a term derived from a misspelling of “hold” and it refers to a buy-and-hold strategy in the context of bitcoin and alternative cryptocurrencies.
Why does this matter? Well, after recently crossing a major milestone in the launch of Rocket, our user-friendly token crowdsale platform, we’re now arriving at the precipice of another marker: Team allocations of FUEL tokens!
These are FUEL tokens that have been locked away by the smart contract that governed our token crowdsale, which wrapped up at the end of October. Official details of this payout is stated in the Etherparty whitepaper (p.12) available at etherparty.com. Essentially, 5 percent of all FUEL tokens — a total of 50 million — were earmarked for distribution by the company for Etherparty staff, following the lockout period.
We know how tough the cryptocurrency market has been, and the team wants to reassure our supporters on two things:
- This is not a token dump; our team, by and large, are FUEL HODLers.
- No tokens in the company’s reserve will be touched. The reserve batch of tokens have been locked since the token offering.
If you have any questions related to this, please don’t hesitate to email k@etherparty.com, CEO at Etherparty Smart Contracts, Inc.
“I do understand it’s easy to be skeptical and negative, as many projects have not done what they said they would do, or have just vanished,” said Hobbs.
“We have remained true to our word even though there have been some delays, but that just goes with the territory in emerging tech.”
Stay tuned for more news and the upcoming feature adds to Rocket that will showcase more of our talent and dedication to building the very best products in the space.
We thank you for your continued support as we work to create the most innovative and accessible ecosystem bridging the gap between today’s crypto-enthusiast and the mainstream user. We’re confident that our community, investors, and clients, will be excited with what we have in store for the future.
Visit etherparty.com/products for more information on projects underway, and sign-up for our company newsletter to receive upcoming updates and announcements.
