Kintsugi Vesting Configuration Update

We have received inquiries concerning the Kintsugi vesting configuration, and with respect to the transparency in our ecosystem, we are releasing this update.

Kintsugi Vesting Schedule

Our team is aware that vesting does not respect our code that sets the requirement that 70% of the tokens should vest for a total of 48 weeks. The root cause for this issue stems from the fact that parachains should produce a block every 12 seconds, but in reality block production is slower (22 seconds at the moment). This problem affects other parachain teams as well. We are working towards fixing the issue.

Solution

We are exploring a few approaches to find a quick solution to the vesting issue, and we will keep you updated on the progress.

About Interlay

We envision a future where blockchains seamlessly connect and interact: anyone can use any digital asset on any blockchain, trustless and without limitations. We work with Bitcoin, Ethereum, Polkadot, Cosmos, and others to expand interoperability, capital efficiency, and openness.

Our flagship product is interBTC — Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant, realising the true free nature of BTC and decentralised finance.

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