Mar 30, 2021
OLY token issuance!
Hi everyone,
Today we’re coming to you with an important update regarding our token vesting arrangements.
Having liaised with our team of advisors, we have made some tweaks that will help define a more liquid market — an approach that has been endorsed by our largest contributors as well. The vesting plan is completely voluntary.
Our vesting smart contracts are now full of tokens
With the goal of generating a sensible emission rate of tokens into the market, a trustless vesting contract is utilized which allows for the non-custodial management of token stakes by contributors.
In order to mitigate the risk of tokens flooding the market prior to sufficient market demand, we’ve developed a comprehensive incentive plan. To recap, the vesting conditions are as follows.
As of today, Tuesday 30th March, we have deployed the vesting smart contracts with the vaults, and executed the transfer of the tokens.
Approximately 543,326,993 OLY tokens have been vested on the smart contracts (1, 2, 3, 4, 5, 6):
We have three separated vault types:
- Vesting Vaults: For participants that are vesting, they can claim their 10% upfront and then the remaining 90% will be distributed through daily cliff linear vesting. The tokens will be distributed daily and fully issued by March 30 2022.
- Bonus Vaults: For the participants in the Vesting Vault they will get approximately 50% APY during the following year. The contract will begin issuing the bonus March 30 2022 and the bonus will be fully issued March 30 2023.
- Un-vesting Vaults: 100% unlocked from option “unvested” (people who chose not to vest, need to claim their 100%).
Claiming your OLY tokens
The step by step process to claim tokens is as follows:
- Go to tokens.olyseum.com OR oly.eth.link OR this link.
- Connect your Metamask.
- Fill in your wallet address.
- Push the “Withdraw” button.
- Accept the transaction in Metamask.
- Enjoy your OLY!
We welcome your participation and continued support!
