From the Prosperous team and the Prosperous investors to the Prosperous community
Greetings, Pros Fam! It’s been a few days since our first DAO voting has ended. The DAO successfully reached a quorum of 500,000 votes and voted for changes in the lock up system for early investors. This decision was pretty hard for us, because this basically caught the team into crossfire. We had several internal discussions inside the team and with the leading investors, so now we are ready to come up with our decision.
Prosper early investors are respectful to the community decisions and looking for a long-term, so they’ve decided to accept the Prosper DAO proposal. However they’ve shown concern regarding the repeat of the same situation in the future. To avoid that Prosper Foundation decided to exclude any lock-up changes related questions from the DAO area of responsibility, which means that the new lock-up system is the final one and won’t be changed ever again. Current lock-up changes affect all early investment rounds: seed, strategic, private and presale.
According to the new lock-up system, there won’t be any new investors tokens entering the market until April 14th. The timeline and duration of the vesting schedule will stay the same.
New lock up system: Linear vesting starting April 14th;
Old lock up system: Linear vesting starting February 14th;
Seed round: 9 months of linear vesting, starting from April 14th;
Strategic round: 6 months of linear vesting, starting from April 14th;
Private round: 8 months of linear vesting, starting from April 14th;
Presale round: 3 months of linear vesting, starting from April 14th;
Other conditions, options and rules
Additional two months of lock up will allow us to improve the product, grow the Prosperous community and implement core features of the token economy. We understand the concerns of the minority of early investors, so from the team side, we will explore different options of shorten lock up terms for the investors who are generating the platform volumes. We will inform the community in advance, once this one will be finalized.
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