The core players of Bonfida, including the seed investors are locked for the long term. We only wanted contributions from those who believe in us for the long run. This is an exceptionally long lockup period for the cryptocurrency industry and we are very proud to have raised the funds we did from these long term backers.
95.4% of all FIDA tokens are locked for four years, with no tokens beginning to unlock before 12 months from the FIDA IEO and IDO’s.
Of the remaining 4.6%, 2% were sold to liquidity providers to maintain adequate liquidity across all exchanges. These tokens will only be used in a market making capacity to meet the demand of buyers.
The next 0.6% will be used for FIDA’s IEO’s and IDO’s to provide an opportunity for the community to purchase the tokens they desire.
The remaining unlocked tokens are to be used for FIDA and SRM ecosystem rewards and incentives. These coins will not be sold or otherwise put on the market by the team. They will be disbursed through a long timeline of FIDA and SRM rewards to provide incentives for robust community interactions with the Bonfida and Serum ecosystems.
This puts FIDA in a very unique position for a token; for the entire first 12 months, there will be no seed sales unlocked, 95.4% of all tokens locked, and only a few percentage of tokens actually circulating, with no large holders to act as net sellers of any kind. We look forward to the growth of our platform, community and token. Welcome one and all!