NEW OpenDAO Linear Token Release: Longer and Uncut
Hello OpenDAO community! To start, we’d like to thank you for your ongoing confidence, support, and cryptoactivism! We have some BIG changes we would like you all to be aware of…
GOOD NEWS!!!
TL;DR
- Private sale vesting for remaining unlocks doubled
- 3-month token releases changed to smaller fortnightly releases
- Team unlock delayed by 6 months, duration doubled
- Objective: Reduce periodic large influxes of of tokens + secure the long term goals of the project
What’s Going On?
For the betterment and longevity of the project, we will be making some changes to the vesting/unlock schedule of OPEN tokens.
Since our public token release on November 26th last year, it has hopefully become more evident that we are in turning OpenDAO into a market leader, not only within DeFi, but Crypto and finance in general.
In a few short months, we have achieved an all-time-high of $3.27 and secured partnerships, collaborations, and clients with some of the biggest projects in the space, including UMA, Elrond, Algorand, Ren, Ocean along with many others. We have also recently bridged OPEN to BSC via a partnership with PancakeSwap and their Syrup pool.
All this is only the beginning…
In the coming weeks, our perpetual stablecoin minter will go live, allowing anyone with BTC/ETH, as well as a whole host of other project tokens, to mint a stablecoin backed by their tokens as collateral. Following this, people will be able to use other real world assets such as stocks, invoices, and real estate to do the same.
Furthermore, we are in talks with tier 1 and 2 exchanges about our first (OpenDAO initiated) CEX listings, and this is a large reason why we need to revise our unlock schedule…
Check out the NEW visualized emission schedule just below!
(Best viewed Full-Screen)
Then, Now, and WHY
The original unlock schedule of 20% every quarter for private investors translates into significant concentrated sell pressure once the tokens are released. Whilst it is in everyone’s prerogative to stake and ‘employ’ their tokens, it can’t be ignored that profits will be taken and there could be a long term downside tied to such an impact:
- Firstly, new investors hesitate whenever we get close to an unlock, while potential partners shy away due to our depressed price: we do not climb the market cap rankings, thus missing out on new eyeballs and opportunities afforded to higher ranked projects.
- Secondly, this is deeply problematic to several top tier CEX’s who do not wish to see sudden influx of tokens enter the market.
To this end, after discussions with CEXes and our advisors, we have decided to:
1) Extend the total duration for future unlocks, and
2) Decrease the size of future unlocks, while
3) Increasing their frequency.
This new policy will apply to private sale investors, the team, and advisors.
What This Means For YOU
This easing of new tokens entering circulation will allow the price of OPEN to steadily climb, without major retracement events, benefiting all token holders in the mid to long term.
This means that private investors’ original three remaining token-unlocks over the next 3 quarters will be doubled to 6 more quarters, though unlocks will be processed more frequently (every fortnight) rather than quarterly.
The more linear release of tokens will reduce concentrated selling pressure at certain points in time and provide greater long term price support.
Additionally, the core team and advisors will be further delaying our initial unlock from the 26th of May by 6 months in solidarity, doubling the vesting schedule to 4 years rather than 2.
These changes will reflect in a higher price for the OPEN tokens and will be in the best long term interest of everyone involved!
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If you have any questions, please feel free to hop into our
dedicated Discord channel!
Discord: https://discord.gg/5ZtVDbN2CP
OpenDAO Main Links
Site: https://OpenDAO.io
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Youtube: https://www.youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
Twitter: https://twitter.com/opendaoprotocol
Telegram: https://t.me/opendao
Facebook: https://www.facebook.com/OpenDAOofficial
Reddit: https://www.reddit.com/r/OpenDAO/
