Wootrade sheds a transparent light on the changes being made to the private investor token unlocking schedule.
Wootrade’s private sale was an important part of bootstrapping Wootrade and its ecosystem. These investors took on the early risk and allowed Wootrade to expand quickly. However, private investor selling pressure is one of the biggest concerns that retail investors have when evaluating new projects. To alleviate issues with concentrated selling pressure, Wootrade has made adjustments to the vesting schedule. Rather than having one large unlocking event on the final day of the month, Wootrade developed a dApp that allows tokens to be vested per block and claimed sporadically at the discretion of the investor.
These changes started from December 31, 2020:
- Private sale and seed tokens are released with the help of smart contracts on a block by block linear vesting schedule,
- Investors must claim tokens via the dApp according to their own schedule and preferences,
- More than half of the tokens allocated for private sale rewards have been distributed already. These rewards will be fully vested by the end of Q1, 2021.
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