Hi there –
We’ve got some important updates for you related to the ThreeFold Token.
New TFT Tokenomics
Until today, the focus of ThreeFold’s tokenomics has largely been on the expansion of the grid. With where the technology / project is, and where we are headed, we believe that now is the time to revise our tokenomics, to put a focus on utilization and to create an overall stronger model.
The team is having discussions and this month we will share with the community for feedback. This project is all of ours, so it’s important that anybody who feels they can contribute, does contribute. Healthy tokenomics are vital to our collective future.
There’s nothing to take action on for now but please keep an eye out on our official news channels for more info soon.
Unvesting TFT
In March 2021 we introduced the vesting program, which was a voluntary process created for token holders to show their support for the project. Token holders were able to put their tokens in a vesting pool, thus locking their tokens temporarily.
The vesting pool was designed so that tokens would get unlocked according to two factors; time and the token value. Every month, 1/48th of the tokens would unlock. Also, once the price of the token would go above a certain amount, more tokens would unlock.
Since the launch of the vesting program, we have continued to learn, grow and adapt. Although we are very grateful for the support and loyalty of the people who vested, The ThreeFold Team and the Guardians of the Blockchain have decided to unvest all of the locked tokens.
This topic has been discussed and thought over for a long time, and we believe that the decision to unvest will not have a negative impact on the project, but will simply be a more fair and precise representation of it.
All vesting wallets require a signature weight of 10 to unlock the vested tokens. The first signer is the token holder who vested. Their signature has a weight of 5. The rest of the signatures must come from the Guardians of the Blockchain. These guardians were carefully chosen and are people with great reputation, who support the ThreeFold project out of good will and who are entrusted to take care of the vesting keys. To unlock the vested tokens, the token holder needs to sign along with 5 people of the Guardians of the Blockchain. The team is in the process of getting the 5 Guardian signatures and working on a simple webpage where token holders can sign and unvest their tokens.
We would like to take this opportunity to express our gratitude and appreciation to the community for believing in the mission we call ThreeFold, and for pushing us when needed.