Today I have personally locked the team tokens, and the tokens kept for future marketing, and development funds.
For the initial marketing that is currently ongoing, and any development needs that may arise, I have kept 6 million token unlocked. 1 million tokens has already been used on marketing. 2 million community rewards tokens have also been kept unlocked since these will need to be used within smart contracts of DApps developed within the next 6 months. You can see the unlocked tokens here.
After adding 8 million tokens to Uniswap liquidity along with the equivalent amount in ETH, we have have 80 ETH remaining for development, marketing, and future projects. We prefer to use the ETH funds over BTAP to prevent any impact of sells on the market.
Locked Future Development and Marketing Tokens
30 million tokens have been locked personally by myself on Team Finance. These are for future development and marketing, legal and other expenses. I’ve linked the amounts so that you can view the locking on Etherscan. Also you can check on Team Finance here.
1 million will be unlocked in 6 months, 10 million in 12 months, and 19 million in 18 months. The reason for this is that I believe we will need access to more funds as we grow BTA Protocol. The spread over 18 months also ensures that we spend only what we need. Hopefully this also gives the community confidence that we intend to continue developing and marketing for the long term.
Team Token Lock (Vested)
I have also locked the 23 million team tokens. Team will get tokens every 90 days. The first distribution to team will be 90 days from today, which is June 21st 2021. The amount will be 5.75 million every 90 days for our large team.
View 90 day lock here. (June 21st 2021)
View 180 day lock here. (Sept 19th 2021)
View 270 day lock here. (Dec 18th 2021)
View 360 day lock here. (March 18th 2022)
Liquidity on Uniswap has been locked on Unicrypt for 1 year. You can view it here.
Concern around Team unlock
Our team is big and therefore the unlocked amount of 5.75m is big. Even though 3 months apart, the last thing anyone wants is 5.75m BTAP being sold on the market in one go.
- The team tokens will be distributed in small amounts over a period of 3 months
- Any selling of team tokens will be done in small amounts and most likely OTC.
The gradual distribution and strategic selling will help us to minimize any negative impact on BTAP.
The team are very dedicated to the success of BTAP as a token and our greater vision. I have no doubt that the team and I can work together to address such concerns. We will test our strategy and adapt if needed. Majority if not all of the team are likely to store most of their given BTAP for long term.
We intend to innovate as a team to continually create new use cases and increase utility.