Token Unlock Extension agreed with Lition’s Investors and Advisors

We are pleased to announce that we have reached an agreement to modify the remaining distribution schedule for our seed, private and advisor token allocations.

Under the previous vesting schedule, 18.8 million LIT tokens would have been released through 3 unlocks in the upcoming 2 months until Mid-April of this year. This has been a constant source of feedback from both current and prospective investors due to limited liquidity. To put it in perspective, the buy books across all of our exchanges are significantly less.

In an incredible show of support, Lition reached an agreement with the advisors and seed/private sale participants to lock up their Lition tokens for a much longer duration. Thereby, stabilizing token distribution and supply while also creating much less selling pressure from month to month.

We would like to thank everyone for their patience while we worked on a solution for the monthly unlocks. It required that we approached each and every investor and advisor in order to come to an agreement on new terms. Additionally, we always take the responsibility we have to our current investors, future investors, customers, partners and the company itself very seriously. A great deal of research and due diligence was required to ensure we were taking the appropriate steps to find a fair and balanced solution for everyone involved.

New Distribution Schedule

None of the remaining 18,800,000 tokens will be released over the next 2 months. In fact, all remaining tokens will be vested for approx. 2 years with equal unlocks at the end of every half-year. This mens:

• First half of 2020: 4.7 million unlocking 06/30/2020
• Second half of 2020: 4.7 million unlocking 12/31/2020
• First half of 2021: 4.7 million unlocking 06/30/2021
• Second half of 2021: 4.7 million unlocking 12/31/2021

As you can see, this new schedule will stabilize distribution and supply immediately while also significantly decreasing selling pressure. We appreciate the strong commitment and display of confidence from our investors and advisors for Lition’s plans in 2020 and beyond.

More to come…

As I stated in the AMA last week, it now is Lition’s turn to show our own belief in the future of the project and our appreciation to this great community. This was also needed, as the new vesting schedule did not come for free for the Lition team. It was our end of the bargain so that a good future can unfold. We will be announcing these details soon.