PRT Vesting Tokens Accelerated Unlock

  • Putting in a price floor for PRT to ensure market stability around the unlock
  • Wait two weeks after the price floor has been put in place
  • Unlocking the team and VC tokens
  • Burning the tokens acquired by the price floor

Why Unlocking Unvested Tokens Is A Good Idea

There is a significant supply overhang of unvested PRT tokens for the VCs that participated in the seed round. Per the original vesting schedule, about 1/3 of these vesting tokens have already been unlocked in the first year, and a further 2/3 would be released over the next two years.

How Unvested Tokens Will Impact Current Circulation

However, unlocking unvested tokens can create challenges for the PRT markets. A sudden increase in circulating supply could lead to many people trying to sell PRT all at once, which could result in price chaos.

The Unlocking Process

First, a price floor for PRT will be created on November 3rd, 12am HKT:

  • The price floor will be set to $0.001/PRT. This is the 60 days moving average price.
  • The treasury will commit $560k in USDC on Serum to create the price floor.
  • The floor provides enough liquidity to absorb 10% of the marketcap ($5.6M).
  • PRT acquired by the price floor will be burned.
  • Whatever is left of the $560k price floor will remain at $0.001/PRT
  • PRT acquired by the price floor will be burned
  • About ~5.4 billion PRT will enter into circulation
  • The marketcap will increase from $5.6M to $11M

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