April 2020 Token Unlock: 100% of Team & Foundation Tokens Allocated to Staking

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TL;DR

  • 100% of unlocked Team and Foundation tokens are being allocated towards staking activities.
  • 100% of Ecosystem tokens are to be used gradually for the long-term growth of the Matic ecosystem via a series of initiatives.
  • ~89% of tokens unlocked on 26 April 2020 are NOT to be released into the market.
  • Only ~1.3% of the total supply, the Advisory tokens (133,000,000), will actually be distributed. Of these, our advisors have committed to voluntarily deploy at least 50% of the tokens to staking.

April 2020 MATIC token unlock

As many of our community members are aware, our second token unlock will occur this month, April 2020, as according to our token unlock schedule found here. Our token release schedule was, however, painstakingly designed by the team keeping in mind the best for both the Matic Network ecosystem and token holders.

Therefore, we want to clarify the details of the April 2020 token unlock to prevent any confusion or potential concern surrounding the token release.


The granular details

We’ve clarified the April 2020 token unlock details in table format below, showing where each segment of the unlocked tokens are allocated, the number of tokens allocated towards each segment, the amount of tokens being released and not being released from each segment, and the reasons why many are not being released.

April 2020 token unlock full details

As you can see, the April 2020 token unlock will result in ~12.18% of the total supply (1,218,304,816 tokens) being ‘unlocked’. However, only a small percentage of these unlocked tokens, 1.33% of Total Supply, (those allocated for Advisors as mentioned above) will actually be released.

Important notes:

  • Ecosystem tokens will be transferred out of the Foundation wallet into a different Ethereum address on the 27th of April. These are not to be released into the markets, they will be used for developer ecosystem growth activities such as Dapp promotions, investments, grants, Matic Mitra, etc. at the discretion of the Matic team. All the details of this token usage will be updated in the Transparency sheet, which we previously announced here. We will give a 48 hours heads up to the community before the actual transfer on the 27th of April.
  • Of the Advisory tokens which will be distributed as part of this unlock, our advisors have committed to voluntarily deploy at least 50% of the tokens to staking.
  • Also, the voluntary lock-ups taken by some investors during the October 2019 token unlock, on 26th October 2019, will be slowly distributed in the upcoming days. These tokens were of course not a part of this unlock, but the previous one.

Summary: carefully considered with the Matic ecosystem & token holders in mind

In summary, only ~11% of tokens being unlocked as part of the April release, those allocated for advisors, will actually be distributed. The rest are being used either for staking activities & rewards, or for long-term growth of the Matic ecosystem through a range of growth initiatives once the mainnet is launched, including Dev Drops to incentivise Dapps to migrate onto Matic Network.

We believe that deploying 100% of the Team and Foundation tokens for Matic Network’s staking ecosystem is testimony to the team’s continued commitment to protect & nurture the community and to always keep the community’s interests as the highest priority.

We also thank our investors and community for their firm belief in the effort of the Matic Network team & our vision. With mainnet and staking launch just around the corner, together we move onwards to the next chapter of our exciting journey.


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