An Update on Team & Advisors’ OM Token Vesting — August 17th, 2021
Dear Sherpas,
As was disclosed on our OM Token V2 Transparency report dated December 18th, 2020, the Team & Advisors’ OM token allocation consists of 17.5% of total supply (155,555,555.40 OM tokens), and vests following a 1 year cliff followed by eight quarterly vestings over 2 years. For the sake of transparency to our community and as an added measure of security, this vesting schedule is enforced by a token escrow smart contract addressed 0xbA028Dad0c8adC0E5941B244ECd5FAD2DfF8E34B. On each of these eight vestings, 19,444,444.425 OM tokens will be released to a MANTRA DAO Council multi-signature vault addressed 0xCa3d2a53DE4D4BcF8B28DDD07f8E325839ADb9cA, each of which will occur on the following dates:
- August 18th, 2021
- November 18th, 2021
- February 18th, 2022
- May 18th, 2022
- August 18th, 2022
- November 18th, 2022
- February 18th, 2023
- May 18th, 2023
As the first vesting is upon us, we would like to add further transparency to what will happen to these tokens once they are released from the escrow contract. The MANTRA DAO internal team remains deeply committed to the long-term growth and success of the project and Sherpa community alike. We recognize there’s a lot of tail winds behind the project with a wide suite of DeFi products across 4+ blockchains and validators across 20+ PoS blockchains, and the last thing we would want is to hinder this growth and sentiment by releasing such a large sum of tokens to the market.
With this in mind, we hereby pledge to the Sherpa community that all tokens from both the first and second vestings (August 18th and November 18th of this year) will be left untouched in the multi-signature vault for at the very minimum six months from now. This means that not a single one of these tokens allocated to the team and advisors will touch the market until at the very earliest February 18th, 2022.
We hope that this pledge further demonstrates the long-term commitment the team has towards the growth and success of the MANTRA DAO project and the Sherpa community!
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.
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