Announcement

An Update on Team & Advisors’ OM Token Vesting

MANTRA DAO Update on Team & Advisors’ OM Token Vesting
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Key Takeaways

As was disclosed on our OM Token V2 Transparency report dated December 18th, 2020, the Team & Advisors’ OM token allocation consists of 17.5% of total supply (155,555,555.40 OM tokens), and vests following a 1 year cliff followed by eight quarterly vestings over 2 years. For the sake of transparency to our community and as an added measure of security, this vesting schedule is enforced by a token escrow smart contract addressed 0xbA028Dad0c8adC0E5941B244ECd5FAD2DfF8E34B. On each of these eight vestings, 19,444,444.425 OM tokens will be released to a MANTRA DAO Council multi-signature vault addressed 0xCa3d2a53DE4D4BcF8B28DDD07f8E325839ADb9cA, each of which will occur on the following dates:

  • August 18th, 2021
  • November 18th, 2021
  • February 18th, 2022
  • May 18th, 2022
  • August 18th, 2022
  • November 18th, 2022
  • February 18th, 2023
  • May 18th, 2023

As the first vesting is upon us, we would like to add further transparency to what will happen to these tokens once they are released from the escrow contract. The MANTRA DAO internal team remains deeply committed to the long-term growth and success of the project and Sherpa community alike. We recognize there’s a lot of tail winds behind the project with a wide suite of DeFi products across 4+ blockchains and validators across 20+ PoS blockchains, and the last thing we would want is to hinder this growth and sentiment by releasing such a large sum of tokens to the market.

With this in mind, we hereby pledge to the Sherpa community that all tokens from both the first and second vestings (August 18th and November 18th of this year) will be left untouched in the multi-signature vault for at the very minimum six months from now. This means that not a single one of these tokens allocated to the team and advisors will touch the market until at the very earliest February 18th, 2022.

We hope that this pledge further demonstrates the long-term commitment the team has towards the growth and success of the MANTRA DAO project and the Sherpa community!


IMPORTANT INFORMATION

This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice. The views expressed are those of the author and the comments, opinions and analyses are rendered as of the publication date and may change without notice. There is no guarantee that any forecasts or predictions made will come to pass. The information provided in this material is not intended as a complete analysis of all material facts or circumstances regarding any country, region or market. All investments involve risks, including possible loss of principal.

Risk management does not imply elimination of risks, and not all investments are suitable for all investors. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by MANTRA to be reliable, are not necessarily all inclusive and are not guaranteed as to accuracy. Data from third party sources has not independently verified, validated or audited. MANTRA accepts no liability whatsoever for any loss arising from use of this information; reliance upon the comments, opinions and analyses in the material is at the sole discretion of the user.

Any products, services and information in this material may not be available in all jurisdictions and are offered local laws and regulation permit. Please consult your own financial professional or legal advisor for further information on availability of products and services in your jurisdiction. Please also see the disclaimer which is found at the bottom of this website under the heading “Important Disclosures”.​

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