$L3P Contract: 0xdeF1da03061DDd2A5Ef6c59220C135dec623116d
Two of the most common questions we receive are, “What is the total circulation of L3P?” and “How many tokens will unlock next month?”
These questions are asked both by investors and those who have bought the token on the open market because they want to know how new token supply might affect the price. This article will explain precisely how Lepricon’s L3P token emission will work.
First, a reminder on our pre-sales structure for the private rounds:
Seed — US$0.012
15% of the L3P Tokens unlocked at the Token Generation Event (“TGE”). Following this, the tokens are subject to a three-month lock-up period, after which the rest of the tokens unlock on a linear schedule over five months.
Private sale — US$0.02
15% tokens unlock at the TGE, and the remainder will unlock over the next five months.
We understand that there is always a concern when tokens unlock. Lepricon has taken some measures to mitigate this.
First, we have created an attractive staking pool on MANTRA DAO, which at the time of writing holds over 40% of all L3P on the market. Locking up so much circulating L3P has helped protect the price of the token. Most of our private sale contributors are staking because the combination of high yield, and their belief in the long-term value of L3P, has encouraged them to take the long-term view with the bulk of their holding.
We will continue to push staking as new tokens come online. We will also be announcing details soon on an additional staking option for liquidity provider tokens from Uniswap.
Linear Unlock for Seed & Private Rounds
Second, we will not be unlocking the tokens in one-month blocks as is typical. Our process is a little different and works as follows:
Everyone will get their unlocked tokens when they should, but no one will get a large amount that can be quickly sold on the market on the same day as everyone else if they intend to sell.
One limitation among some of the standard wallets is that they cannot tell if a token is locked or unlocked. They just see that it is there. To mitigate this, we will be launching a simple service on the Lepricon website where you can connect your wallet and see the exact amount of locked and unlocked tokens.
Finally, as this will not be in place for two weeks, we manually dropped seven days, or 14 cycles, of unlocked tokens into all private round contributors wallets on Wednesday. We will do the same thing next Wednesday, and then the following week, we will do the final broadcast.
Team & Advisors
Team and advisor tokens are subject to a 24-month vesting schedule, with tokens distributed as follows: