Based on existing NKN economic model, the team/developer and foundation tokens are unlocked according to the following schedule:
Foundation: 170,000,000 in total
- 1st unlock: 56,666,667, May 28th, 2019
- 2nd unlock: 56,666,667, May 28th, 2020
- 3rd unlock: 56,666,667, May 28th, 2021
Team/Developer: 180,000,000 in total
- 1st unlock: 60,000,000, May 28th, 2019
- 2nd unlock: 60,000,000, May 28th, 2020
- 3rd unlock: 60,000,000, May 28th, 2021
Therefore, we have moved the first unlocked portion of the team/developer and foundation tokens to their respective distribution wallets. We will start to distribute some of the funds to community developers (e.g. the recent special community award to nknx.org), as well as our technical advisor. In addition, we will distribute merit based reward to our core developers.
The holding wallets for locked tokens continue to be:
- Foundation: 0x198d834c9b7e5c4e5765551082731e80aad17fc9
- Team/Developer: 0x3af6d06fe94788bb8a6a6f1492d1f3a9b3bdab66
The distribution wallets for unlocked tokens are:
- Foundation: 0xF6BdFBeB25c08De66087329B6EBa89a0BE0a8f2f
- Team/Developer: 0x2C7Ea6AC2e7Ba43d96C5408510Ddedb40FF9A8Ee
There is no change to the economic model or token metrics. These tokens have already been unlocked in May 2019, and the actual circulating supply already increased to 466,666,667 in May 2019. The only reason why only now it is reflected on coinmarketcap.com (CMC) is because CMC uses a unique algorithm that only add unlocked tokens to circulating supply AFTER they are moved out of the original wallet.
NKN team believe in the long-term future of NKN project and have sufficient liquid funds for our day to day operations. Our primary use of the unlocked tokens is to incentivize key contributors to the NKN project, as well as grow the developer ecosystem of NKN tokens.