Orion Protocol is changing ORN's private sale vesting schedule, resulting in a slower and more staggered release to mitigate the impact of token releases on the secondary market.
The vesting schedule will be extended from 6 months to 19 months, with the amount released each time reduced. The move results in a slower and more staggered release to mitigate the impact of token releases on the secondary market - requested by key partners coming on board.
The new vesting schedule is as follows:
July 16th 2020: 10%
August 16th 2020: 15%
October 16th 2020: 10%
December 16th 2020: 10%
February 16th 2021: 10%
April 16th 2021: 10%
June 16th 2021: 10%
August 16th 2021: 10%
October 16th 2021: 10%
December 16th 2021: 5%
The team believe that the majority of private sale participants will share the desire to mitigate the impact of token releases and understand the necessity of this decision.
The sustainability and longevity of the ORN token is of utmost importance to the Orion team, and the team hope private sale participants will echo this sentiment.
Once Orion Terminal is live on Main Net, private sale participants will be able to receive staking rewards on 100% of the locked tokens that have yet to be distributed. Therefore, the changes in the release schedule will not affect anticipated staking rewards whatsoever.