Post
Topic
Board Tokens (Altcoins)
Re: [ANN][Private-sale] |DUSK Network| Fast, Anonymous, Secure Transmission of Data!
by
DuskNetwork
on 22/10/2018, 12:36:23 UTC

After the private is conducted we will deploy a smart contract which will vest allocations second by second. What this means in practice is that at any point a token investor wanted to release their tokens, they can make a call on the smart contract and then will have access to the total number of tokens that will have vested at that second.

As an example: after the lockup, tokens will be vested over 31,536,000 seconds (365 days x 24 hours x 60 minutes x 60 seconds). If they did it at exactly 6 months, they would receive half. If they did it at 1 day, then 10 days, then 57 days, and then every 3 weeks; they would receive the relevant whole tokens (rounded down) at each specific second.

More information on the ending of the privatesale will follow soon. The softcap has been reached Wink

That is, tokens can actually be taken away completely in a year? Does this mean that there will be swap tokens for coins only after this moment?

Basically we foresee plenty of options to migrate the vesting to the mainnet currency after the token swap moment, so that we do not have to continue vesting an ERC20 for x months after it's no longer relevant, we also foresee we can do this without impacting any privacy or disclosing user info.