Smilo explained — Airdrop & Vesting teamtokens
In the ‘Smilo explained’ series we will explain the technology and choices that define the Smilo Platform in an accessible way. In this article of Smilo explained we are going to elaborate on the token airdrop and the vesting period of the team tokens.
All unsold tokens from the private sale, pre sale, and public sale will be distributed amongst all Smilo ICO participants through an airdrop.
For example: out of the 84 million tokens that can be acquired in the ICO process, 75.6 million tokens are actually being sold.
In this case, 10% of the tokens have not been sold. Based on this number, all ICO participants will be compensated with 10% additional Smilo tokens. If you would have received a total of 10.000 Smilo tokens, you will now receive a total 11.000 Smilo tokens.
We decided to implement this airdrop so that the total supply of Smilo tokens remains the same, while also making sure that the ICO participants are getting their full invested value in Smilo tokens.
Vesting team tokens
The first block of the Smilo blockchain will generate a total of 200 million Smilo tokens. Of this total supply, 100 million Smilo tokens will be distributed in the private sale, pre-sale, public sale and as community bounties. The other 100 million Smilo tokens will be divided into two portions.
The first portion will consist of 72 million Smilo tokens, and these will be used to support the platform in the long run. Every month, 2% of the tokens which are left over from the previous month will be distributed onto the market. Thus, every month there will be less tokens distributed than the previous month, which provides a virtually endless supply of income to keep the Smilo network operating at the highest standards. These tokens will be used for events (such as hackathons), support of the platform and additional services provided by Smilo which all contribute to the growth of the Smilo community.
The second portion containing 28 million Smilo tokens, which equals to 14% of the total amount of Smilo tokens, will be distributed amongst the team as compensation for their investment of time and money in developing the project before the ICO. Every six months, after the ICO, 25% of their tokens will be released. Thus, after two years, all the Smilo team tokens will be released. This phased vesting is implemented to show our commitment to the success of the platform and the concept development.
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