[ANN] Accelerated unlock and changes to the release times of monthly NPXS and NPXSXEM unlocked tokens
Our whitepaper initially proposed a roadmap for an NPXS/NPXSXEM token unlock program of 3 years which started in January, 2018. We’ve been executing since then, but whitepapers are by their very nature living documents that adapt to changing circumstances. To better comply with ever-changing regulatory requirements, our legal team has advised the company to release the remaining unlocked tokens, starting from April 1, 2019, and to complete the program early by the end of June, 2019.
Given the shortened period, we will increase the unlocked-token rate over the next three months. Please note that the total distributed amount of the tokens will remain the same as stated in the whitepaper.
The time base for calculating the remaining unlocked tokens
Start date: 00:00:00 GMT+8 on March 1, 2019
End date: 23:59:59 GMT+8 on May 31, 2019
Unlocked token rate: 11.063%
The formula to calculate the base of your NPXS/NPXSXEM monthly holdings is the same as previous months but the rate is adjusted:
[(The average of the daily lowest NPXS amount of the month X 10%) + (the daily average NPXS amount of the month X 90%)] X 11.063%
Random snapshots will be performed as usual.
The remaining unlocked tokens will be distributed in the first week of April, May, and June. There will be no more monthly token unlocks thereafter.
Here is the example. Assume you own 10,000 NPXS in February 2019 and hold till June 1, 2019 without buying and selling. You will get 212 unlocked tokens in March (2.11637%) and then 1,129 unlocked tokens in April (11.064%), 1,255 unlocked tokens in May (11.064%), 1,394 unlocked tokens in June (11.064%). See the chart below on how the numbers are calculated.
All ERC20 compatible and NEM nano wallets, which you own your private key, as well as the XWallet. This is the same as the wallets that have been supporting your usual monthly unlocked tokens.
The same exchanges you’ve received your monthly unlock tokens from.
Please note that the formula which is used by the exchanges to calculate the base is different. You can read the details from their announcement channels.
- If holders want to receive the optimal amount of the monthly unlocked tokens, we strongly recommend to keep NPXS/NPXSXEM in your private wallet (not on an exchange wallet) as previously suggested.
- Due to technical limitations, we want to remind that keeping NPXS/NPXSXEM in the exchanges cannot guarantee that you will receive the optimal amount of the monthly unlocked tokens. We expect there will be a discrepancy in the number of tokens unlocked between exchanges and for those stored in private wallets. Therefore, we highly recommend that you store your NPXS/NPXSXEM tokens in your private wallets to receive the full amount of the remaining unlocked tokens. We will not be held responsible for any discrepancy that occurs due to token holders storing their NPXS/NPXSXEM tokens in supported exchanges.
- You will NOT receive monthly unlocked tokens if you do NOT keep NPXS/NPXSXEM in the supported wallets or in the exchanges listed above.
- There will be no monthly unlocked tokens after we finish distributing the last batch of remaining unlocked tokens in June 2019.