Nex Founders tokens

founders

#1

Founders’ tokens are locked in a smart contract with slow release over 2 years right? Is there any more specific details on that?

I could be wrong but I’m sure there was mention of the tokens possibly being staked. Is that still a possibility?

@ethan @LucianoEngel @localhuman


(Cryptonnyx) #2

Good question


(Kelvin Fugara) #3

I think Locked Means they cant dump/sell it, but can stake it


(Crypt On The Beat) #4

Staking for sure


(Nikita Babaev) #5

Legally they can’t sell. I doubt they gonna even think about it.


(Ethan Fast) #6

Legally, our tokens vest over two years, and you can’t sell tokens until they vest. We are able to stake the unvested tokens. And while I can’t really speak for everyone, none of us want to sell NEX anytime soon, vested or not. We believe the tokens will be much more valuable in a few years.


(Seidler) #7

I have the same feeling :slight_smile:

Can you speak about staking mechanics?
I understand that it will be calculated at 50 mil at any time. Does this mean if 25 mil tokens will be stake it 1 token will receiving x2 staking. Or what will happen with the rest?


#8

@seidler the rest goes to the company fund


#9

@ethan Thanks for the response. When will the first batch of tokens be released and will it be linear over the two year period?


(Bill) #10

what’s the Circulating Supply now?


(Bunder) #11

Looking forward to it!


(FCC) #12

You can look at neoscan and do 50M - Founders - Contract balance, that should be close to correct. But the best way is waiting until staking contract is online and than just do 50M - Staking contract.


(Seidler) #13

Great, we will have an overview of the staking contracts :smiley:


(Ashrith) #14

So that means during vesting you can’t get dividends ? If so then are the dividends should be distributed to 40 mil or something around that as ur team tokens are vested right . So will the formula be ((fees*(75/100))/circulating supply)* no of tokens I hold. If I suppose to stake for 2 years. Is it right @ethan @canesin


(Crypt On The Beat) #15

No they can’t change the formula. They got the security license so they have to stick with it.


(Toni R) #16

are the 2 years counting since the end of round 2 or when the exchange is released?


(Rory) #17

It’s based on the full quantity of 50mil tokens. It does not change based on the circulating supply, how many are staked etc. Any additional fees are collected by the company.


(Stay Humble101) #18

After the Decentralized Exchange and Staking Smart Contract are running (Q1 2019) you will be able to stake your NEX tokens anywhere from 1 month to 24 months and the moment you stake the tokens the timer starts. (Also 1-24 months might change slightly when released on the Staking Contract - we will know more in the next couple of months)


(Toni R) #19

I think I have not explained well. I was referring to the two years that the team is going to have their tokens locked up. When do the two years start? I imagine that once the exchange is released, right?


#20

@Toni_R Not sure but i would guess from after round 2 ended