With Investor Commitment, We’re Extending Our VCs’ Lock-Ups
The markets may be choppy, but our commitment to our community is unwavering. Here at BlockchainSpace, we have been busy building and creating in 2021, and are excited to intensify our efforts to develop our guild ecosystem in the years to come. Our investors share our vision and have committed to extending their token vesting schedule’s cliff period, reflecting their confidence in the long-term viability of our project.
Extending Our Token Lock-Ups
In our early-round fundraising, we sold a total of 126,100,000 $GUILD to venture capital firms, which had an initial vesting schedule of 10% at launch, with quarterly unlocks over 2 years. This represents roughly 12.6% of $GUILD’s total token supply.
The vesting schedule for this portion of investors will be extended such that their first 10% unlock will only happen when $GUILD gets listed on a Tier 1 exchange. The direct impact of this change will mean that there will be a much lower supply when the token is officially launched. Instead, additional supply will only be introduced when we achieve our goal of a Tier 1 Centralized Exchange listing.
With a Tier 1 Centralized exchange listing, we can also expect an increase in trading volume and demand, which will then be matched with the increase in supply from the token unlocks.
In summary, our new vesting schedule looks like this:
Roadmap Updates
We have been networking and building partnerships with many established and upcoming players in the data, guilds, and metaverse space, which we believe will further cement our value proposition as the main cornerstone of the guild ecosystem. We are on track with our roadmap, and can’t wait for you to share in the perks of being a $GUILD token holder.
About BlockchainSpace
BlockchainSpace enables play-to-earn guilds to scale in the metaverse. We build tools to empower gaming communities and run academies to identify economic opportunities in games. Our aim is to embolden the next generation of play-to-earn gamers and guild owners to become successful entrepreneurs by equipping them with essential digital tools and financing.
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