DAO Update: New Token Unlocking Schedule and Early Unlocking Restrictions Implemented for Private Investors

The result of the DAO #6 vote on ‘Adjustment to Unlocking Conditions for Private Investors’ resulted in 96.50% of voters agreeing that the Foundation should not grant any investor request for unlocking their tokens ahead of schedule. Additionally, the voters advised that the investor lock-up period be extended.

The Foundation has since re-negotiated the lock-up period with investors, with the following outcome:

  1. The early unlocking conditions mentioned in the Conflux Economic Whitepaper are no longer in effect and will not be triggered in the future, regardless of circumstance.

  2. In the coming 4 months, beginning May 2021, the token release quota of the private equity investors and the Conflux Team will not be allocated. 20% of the quota will be unlocked in September 2021, and every month another 20% will be added to the quota of the month before. In other words, private equity investors can withdraw up to 0%, 0%, 0%, 0%, 20%, 40%, 60% and 80% of their CFX tokens each month from May 1 to December 31, 2021.

  3. The locked and lowered part of the token release quota will be unlocked and released linearly within 6 months after the original unlocking cycle terminates (namely after 18 or 42 months).

The unallocated CFX tokens of all founders of the Conflux Team, the Chief Scientist, and all team members have been locked to the previously announced addresses until August 2021.

To demonstrate the Core Team’s confidence in Conflux’s future development, the position locking duration of the above-mentioned unallocated CFX, and those to be unlocked in the future, has been voluntarily extended to February 2022.

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