TIP token sale update
The TIP token sale came to an end on August 17th at midnight UTC and here’s a quick update.
The total number of tokens purchased in the token sale was 12,384,801.79 TIP. This constitutes a small fraction of our total minted supply. In a platform geared towards mass adoption, a high token supply is necessary for a healthy functioning token economy and higher liquidity. Thus, to maintain this healthy token economy, we have some great news for token sale participants. We have decided to reward token sale participants with extra tokens. Each token purchased at the token sale will be rewarded by 9 additional tokens. Thus, a total of 123,848,017.9 TIP will be distributed the participants.
This number will constitute sixty percent of the available supply. The remaining forty percent distributed and held as indicated in the chart below.
The Team, Advisors and Reserve portions have a 2 year vesting period with a 6-month cliff.
Based on these numbers, we will have an available token supply of 206,413,364 TIP. The remaining 793,586,636 TIP tokens from the original total supply will be burned in gradual token burns. Token distribution is expected to commence on Thursday, August 23 for token sale participants, and next week for airdrop and bounty participants.
Our priorities as a company are on delivering our products to market and increasing token value for our investors. To that end, we will be accelerating the development of items on our roadmap which have the highest potential of having a market impact. Thus we will be updating our roadmap accordingly.
Look out for these updates shortly.
