Conflux (Tethys) Network has been open to the public for more than three months. To build a more transparent Conflux Network, Conflux Foundation decided to disclose the CFX Financial Report between November 2020 and January 2021 for the first time.
The Conflux Economic White Paper notes that 5 billion CFX genesis tokens will be issued, and it stipulates the percentages and rules of pre-mine’s distribution. The White Paper states that 16% of the issued tokens are for private equity investors and foundation reserves with an unlock period of 2 years; 36% of the tokens belong to the genesis team and seed investors with an unlock period of 4 years; 8% are the community fund with an unlock period of 4 years; the remaining 40% are for the ecosystem fund with an unlock period of 4 years.
According to the economic model, 6.25% of 1,800,000,000 CFX tokens that belong to the genesis team have been unlocked so far (112,500,000 tokens), of which 68,263,750 tokens were distributed, and 44,236,250 tokens remained unclaimed by the end of this quarter; 6.25% of 2,000,000,000 CFX tokens belonging to the ecosystem fund have been unlocked so far and 0.01% were distributed, leaving 124,762,408 tokens undistributed by the end of this quarter.
Conflux will disclose its financial information every three months to ensure the transparency and fairness of the foundation. In the future, Conflux will demand itself to meet the industry’s highest standards and improve the quality of its information disclosure to make sure that Conflux will always be transparent and contribute to the stability of the blockchain industry.