Home Coins Lition (LIT) Token Unlock Extension agreed with Lition’s Buyers and Advisors

Token Unlock Extension agreed with Lition’s Buyers and Advisors


Richard Lohwasser / Lition

We’re happy to announce that we’ve reached an settlement to change the remaining distribution schedule for our seed, personal and advisor token allocations.

Beneath the earlier vesting schedule, 18.eight million LIT tokens would have been launched via three unlocks within the upcoming 2 months till Mid-April of this yr. This has been a continuing supply of suggestions from each present and potential traders on account of restricted liquidity. To place it in perspective, the purchase books throughout all of our exchanges are considerably much less.

In an unimaginable present of assist, Lition reached an settlement with the advisors and seed/personal sale contributors to lock up their Lition tokens for a for much longer period. Thereby, stabilizing token distribution and provide whereas additionally creating a lot much less promoting strain from month to month.

We want to thank everybody for his or her endurance whereas we labored on an answer for the month-to-month unlocks. It required that we approached each investor and advisor to be able to come to an settlement on new phrases. Moreover, we all the time take the duty we’ve to our present traders, future traders, clients, companions and the corporate itself very significantly. A substantial amount of analysis and due diligence was required to make sure we have been taking the suitable steps to discover a honest and balanced answer for everybody concerned.

New Distribution Schedule

Not one of the remaining 18,800,000 tokens will probably be launched over the following 2 months. In truth, all remaining tokens will probably be vested for approx. 2 years with equal unlocks on the finish of each half-year. This mens:

  • First half of 2020: 4.7 million unlocking 06/30/2020
  • Second half of 2020: 4.7 million unlocking 12/31/2020
  • First half of 2021: 4.7 million unlocking 06/30/2021
  • Second half of 2021: 4.7 million unlocking 12/31/2021

As you possibly can see, this new schedule will stabilize distribution and provide instantly whereas additionally considerably lowering promoting strain. We respect the robust dedication and show of confidence from our traders and advisors for Lition’s plans in 2020 and past.

Extra to return…

As I acknowledged within the AMA final week, it now could be Lition’s flip to indicate our personal perception in the way forward for the challenge and our appreciation to this nice group. This was additionally wanted, as the brand new vesting schedule didn’t come totally free for the Lition staff. It was our finish of the cut price so {that a} good future can unfold. We will probably be saying these particulars quickly.



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