The Second Batch of the Private Sale Tokens Will be Unlocked on March 11
According to Phala Network’s fair distribution mechanism defined in Chapter 3.4 of Phala Network Token Economy Whitepaper, the second batch of the private sale tokens will be unlocked on March 11, after the listing of the PHA token 6 months ago.
This unlock is 3% of the PHA initial supply (30 million PHA, or 20% of the private sale tokens). These tokens will be unlocked before 2021, March 11, 24:00(SGT). The private sale tokens are unlocked in 3 batches. The first private sale unlock (90 million PHA, 60% of the supply) happened six months ago (2020, Sep. 11th). The third and final private sale unlock is scheduled for September 11th, 2021, six months from now.
The full release plan of the private sale tokens is as below.
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About Phala
Phala Network tackles the issue of trust in the computation cloud.
This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.
As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.
On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.
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