Today marks the one year anniversary of Band Protocol on Binance Launchpad! Over this time, we have consistently tested and iterated our oracle technology starting with the launch of the first version of Band Protocol on Ethereum Mainnet to our second and much more optimized version on BandChain. In addition, we have also ramped up the adoption of our BandChain oracle technology with many integration partners in the pipeline and expanded our global positioning through major exchanges such as Coinbase, Huobi Global, Binance US, and more.
From the beginning, we have designed our token release schedule to accommodate for the Band Protocol ecosystem and all stakeholders. As we turn one year old, this means two things:
Per our original token release schedule, 4.4% of foundation, 4% for the team, 3.8% of ecosystem tokens are scheduled to be unlocked on September 17th, 2020. However, to express our long-term commitment and vision for Band Protocol, all of the foundation and team token unlocks (8.4% in total) will NOT be released into the market and continue to be locked up for one additional year.
The 3.8% unlocked for the ecosystem fund will also go directly into securing the BandChain decentralized oracle network via staking and will only be used in the future for learn-and-earn campaigns, developer grants, bug bounty, hackathon prizes, and other community initiatives as communicated in our public channel.
This is the last seed and private investor token unlock (3.75%) meaning that there will be no further token releases from private sales.
The Band Protocol journey has only just begun, thank you all to our validators, delegators, community members and stakeholders who are helping to secure the oracle network and consistently driving adoption of Band oracle technology. There is currently over 84.5M BAND being staked into the network!
Our team is excited to dedicate all our resources at hand to bring Band Protocol’s secure cross-chain oracle technology into the toolbox of all smart contract applications and decentralized finance, scaling adoption and security of the blockchain industry.