Aug 09, 2022 7:53 pm
Metaverse Project Bloktopia Introduces Proof of Token Backing and Changes Token Release Mechanism
Metaverse project Bloktopia announced the introduction of a token-backed proof plan aimed at protecting the long-term development of projects and tokens, and after consultation with private investors, decided to change the release method of the remaining 75% tokens. Specifically, Bloktopia provided two There are two ways for investors to choose, the first way is to hold at least 25% of the tokens in the last 5 distributions, and continue to hold 40% of all future distributions, only allowing 60% to be sold. Bloktopia will monitor the wallets of early investors and take regular snapshots. If investors fail to meet this requirement, it will automatically trigger the second method, that is, extend the vesting schedule to distribute tokens within 10 years, starting from the next distribution time. 5-year lock-up period. If investors choose the first option, they need to buy back tokens from the open market and deposit the minimum required 25% before August 16, 2022.