Opium Team and Early Investors Extending Token Vesting Schedule
The decision was collectively made to affirm long-term confidence in the success of Opium Protocol after a successful token launch.
Key Points
- Opium Team and early supporters have agreed to extend the token vesting schedule;
- Tokens allocated to the team and private investors were linearly vested for 4 years and 2 years respectively, but are now also subject to a 180-day vesting pause;
- The decision showcases the long-term commitment of early backers in the success of Opium Protocol and dedication to the Opium community & DeFi industry at large.
Looking back on a successful token launch
The long-awaited $OPIUM governance token launch earlier this year was well-received by our community and the wider DeFi ecosystem, also because of the fair token distribution mechanism called DROPIUM. The idea behind DROPIUM is simple: Long-term holders of the $OPIUM token rewards end up with more tokens compared to early leavers — they get taxed a part of their tokens for leaving the DROPIUM pool early. In parallel to the token launch, we created the opportunity for early liquidity providers to receive tokens for participating in Opium Finance pools for USDT protection products. Soon thereafter we launched the first in DeFi CDO (risk tranching) built on Opium Protocol.
No new $OPIUM tokens from the Opium Team and Private Investors funds will be unlocked for the next six months!
Building long-term value with long-term oriented stakeholders
Last year Opium Team closed a funding round with strategic partners and investors. Backers of Opium include Galaxy Digital, Alameda Research, HashKey, QCP Soteria, Rockaway Blockchain Fund, Meta Cartel, Zee Prime, One Block, CMS Holdings, Kenetic, FBG, founders including Stani Kulechov, Kain, Jordan (Synthetix) and many more.
These backers were carefully selected for the value that they could bring to the Opium ecosystem through expertise, advisory, and network. Our early investors have always been highly confident in the success of the Opium project, but this confidence was cemented after the successful token launch and sustained efforts from Opium Team to make the project a success.
We believe community trust and engagement are the most important factors for long-term success in DeFi, and this decision aligns with that belief and the principles that uphold the entire industry.
To show long-term dedication and commitment to the Opium community and DeFi industry at large, Opium Team and early investors have voluntarily agreed to introduce an additional 180-day vesting pause to the already existing linear token vesting schedules. This means that no new $OPIUM tokens from the Opium Team and Investors funds will be unlocked for the next six months! After this pause unlocks continue with the same rate.
We are proud to make this announcement and we expect that it will boost community confidence and participation in the Opium Network. We believe community trust and engagement are the most important factors for long-term success in DeFi, and this decision aligns with that belief and the principles that uphold the entire industry.
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