$OPEN Token Lock Update

67,700,000 tokens secured with Team Finance

Simon Eddie K
May 18 · 3 min read

Today marks the implementation of a clearer defined token supply.

$OPEN locked with team.finance

We thank our community and investors since launch placing their trust in us, truly a rare commodity to come by in DeFi.

To repay that, in the interest of full transparency, it seems only logical to secure future token allocations for our community and rewards in a smart contract.

You should not have to trust us, trust in the code.

Of this locked $OPEN, the breakdown is as follows:

  • 10.97% - 7,426,707.19 from Treasury
  • 20.58% - 14,000,000.00 from Team.
  • 68.35% - 46,273,292.81 from Community.

We will likely repeat this process with similar % breakdown when the tokens unlock. At the end of this lock period we expect to have the DAO governance process ready and the control of these tokens will be handed over to the DAO.

Even after the control is handed over to the DAO we will have linear unlocks which means the full supply does not come into circulation for another 9 years.

Until then, this is the remaining $OPEN supply available for treasury and community rewards, for the next 365 days.

In addition, Private Sale Allocation of 8,366,111.10, and remaining Team Allocation of 6,000,000 are to be deployed in linear release contract locks of their own.

In summary

  • 100Mil total $OPEN
  • 67% of which, locked for 1 year
  • Presale and Team Alloc to be locked in linear release contracts.

$OPEN available for project purposes over next 12months

  • DAO Treasury - 5Mil (2/3 for $OPEN bridged to BSC)
  • Community Incentives - 2Mil

Circulating supply 10mil

Any further questions, you can reach to us on all the usual networks.

OpenDAO

Bringing Real World Assets On-Chain with $USDO

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