Tokens are coming home!
Dear PLR Token holders,
As part of the changes we have made to the processes, team, and management structure of Pillar, we have also been analysing the evolving relationship we have with 2030.
The relationship between Pillar and 2030 was born out of shared founders at the time of Pillar’s inception, and this meant shared resources and personnel until 2019.
This relationship is now rationalised and there are no overlaps or dependencies in personnel, resources and processes.
This was also the perfect time to consolidate the PLR token treasury in view of the 80,000,000 PLR tokens that were allocated to 2030 as part of the Pillar Grey Paper.
Through the restructuring of the loan made by Pillar to 2030, which was previously disclosed in our AGMs, Pillar has secured the 80M tokens which 2030 was entitled to as stated in the Pillar Project Grey Paper and encoded in the Token smart contracts.
To recap:
- 120,000,000 PLR tokens are set to be unlocked into the treasury of Pillar on July 17, 2020.
- 80,000,000 PLR tokens are set to be unlocked into the treasury of 2030 on July 17, 2020.
With this change, Pillar will have 200M tokens in the foundation’s treasury this summer.
Download the Pillar Wallet for iOS and Android
Subscribe to our Newsletter and never miss an update again!
Or subscribe to your channel of choice — we’ve got something for everyone….
Telegram, Twitter, Facebook, Instagram and YouTube.
