Dear friends,
In March of 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 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.
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 other 9 are called the Guardians of the Blockchain. These guardians were carefully chosen and are people with great reputations, who support the ThreeFold project out of goodwill 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.
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. Most of the users who vested their tokens are either internal or very loyal community members, so we don’t expect any big consequences.
How to unvest
- Go to https://tokenservices.threefold.io/unvest/ on your mobile phone.
- Copy your wallet address from the TF Connect App (wallet - information button bottom right - copy icon next to your wallet) and paste it in the wallet field.
- Copy your wallet secret from the TF Connect App (wallet - information button bottom right - copy icon next to your secret) and paste in the wallet secret field.
- Your tokens are now unvested.
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.
Kind regards,
The ThreeFold Team