Adjusting $RAGE Token Distribution & Vesting
Dear RageFan’s,
The first quarter was no less than a rollercoaster ride. The RageFan team is working very hard behind the scenes and surely you are observing the continuous market, product development and partnership updates.
We successfully launched our Scramble token hunting mobile app in the first quarter. Our Rage.Fan fantasy sports platform Alpha launch was delayed as some of our team members were affected due to the ongoing COVID pandemic. However, the team fought back, worked harder and successfully launched our Beta in April of the second quarter with the community’s extensive support. Our platform now covers Cricket, Football and Basketball with plans to expand into other sports and contest formats.
We successfully launched our NFTs based on Cricket, Tennis and Football. We want to expand rapidly in the NFT marketplace and enable sports fans to stake and earn rewards that include payout models based on real world sports performance of teams and star NFTs. NFTs will be front and centre of our strategy, and we are doing more to quickly expand into this market.
As we inch closer to the next quarter, we would like to inform our awesome community about the slight deviation from the initial Tokenomics of Rage.Fan. Considering the best interest of the project’s future success and growth we along with the support of our private and seed investors have brought in certain crucial changes in terms of investor token release and distribution.
We are publishing a new vesting schedule that gives the project team a break from new token vesting till July 30th and a more spread out release subsequent to that for the early supporters. The Rage.Fan team has moved the team releases by another 3 months and also spread it to a longer schedule to show its commitment.
- Seed: 10% released at TGE, 15% released after 1 month, 10% release every 2 months starting from month 4 (July 30th), with the last one being 15%
- Private: 17% released at TGE, 23% released after 1 month, 10% release every 2 months starting from month 4 (July 30th)
- Ecosystem: 5% on TGE, 10% unlocked after 1 month, 10% unlocked every 2 months starting from month 4 (July 30th)
- Liquidity Provisioning: 10% on TGE, 10% unlocked after 1 month, 10% unlocked every 2 months starting from month 3 (June 30th)
- Marketing: 5% on TGE, 10% after 1 month, 10% every 3 months starting from month 4 (July 30th)
- Employees: 15 months lock followed by 5% release every month for 8 months and 10% release every month for 6 months after that
- Advisors: 0% on TGE, 10% after 1 month, 5% every 2 months starting month 4(July 30th)
- Team: 0% on TGE, 15 months lock, 8% every month for 12 months followed by 4% in the last month
We are confident that this decision will be in the best interest of the community, driving long term sustainability of the project
Best,
Team RageFan
About Rage.Fan
Rage.Fan is a fan-first decentralised fantasy sports platform where players will have the opportunity to acquire action cards based on uNFTs to earn additional in-game points. Players will partake in an Augmented Reality based Token hunt platform, Scramble, to collect $RAGE coins. The platform will also host a one-of-kind Sports Oracle offering reliable secure off-chain sports data.
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