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Vesting Rules
A vesting period is a time interval during which tokens of the early investors, advisors, team members, alpha-testers, early validators are unlocked according to a priorly approved schedule. The tokens unlock logic is programmed inside of smart contracts and cannot be changed.
A vesting mechanism allows to reduce pressure on a token market price, a probability of speculation and protects interests of token holders, and positively affects the long-term development of the project.
Vesting periods and the unlock scheme can be found in the tokenomics of the project:
EYWA Tokenomics.pdf
260KB
PDF
The detailed information about the unlock scheme specifications can be seen via this link on the "Unlock scheme" page.

TGE mechanics

The TGE phase will be held as follows:
  1. 1.
    Firstly, the EYWA DAO smart contract will be deployed on the basis of the Aragon solution;
  2. 2.
    The EYWA token smart contract will be deployed;
  3. 3.
    All EYWA token emission will be handed over to the EYWA DAO governance;
  4. 4.
    The vesting contracts will be deployed;
  5. 5.
    The EYWA DAO will send the EYWA token emission to the vesting contracts in accordance with the tokenomics of the project;
  6. 6.
    Vesting EYWA tokens are credited to investors' addresses in the Harmony One network, which would be possible to convert in a ratio of 1:1 for the unlocked EYWA tokens. The EYWA tokens are unlocked according to the certain scheme during the vesting period.
At the moment of TGE, the vesting contracts will be deployed for the private rounds participants, founders and team, advisors. Unallocated tokens will be under the DAO governance. Primarly, the EYWA DAO members are the EYWA team and the specified trusted third-party members composed out of our advisers, investors and partners that will announced.
In multisig, besides the EYWA team, there will be members selected from partners, investors and advisors. In the future, the DAO holders will choose the new governors themselves. After the announcement, the DAO will deploy the vesting contracts of the participants of the validators round and alpha-testers.
The general scheme for unlocking the EYWA tokens is as follows:
  1. 1.
    For the certain period after TGE, all EYWA tokens remain locked until the cliff phase and users would not be able to convert the EYWA vesting tokens for the EYWA tokens;
  2. 2.
    At the moment of the cliff, a part of the EYWA tokens is unlocked.
  3. 3.
    After the cliff and until the end of the vesting period, the EYWA tokens are linearly unlocked every second. The user can convert his / her EYWA vesting tokens for the available unlocked EYWA tokens at any time.
Instructions on how to convert the EYWA vesting tokens for the EYWA tokens in the interface of our application can be found via this link.

Initial circulation supply and market cap

After TGE, the total circulating number of the EYWA tokens will be 15,887,500 (~1,58% of the total supply). This number is a sum of the number of tokens unlocked on the launchpads plus the number of tokens unlocked for market making. Market cap on TGE is 3,177,500 $.

EYWA vesting token

The EYWA vesting token has the following features:
  • Limited movement. Different categories of investors have different rights to move their EYWA vesting tokens. Private round investors, advisers and validators round participants can only move their vesting tokens to addresses added to the whitelist. This creates OTC market. Other participants can move their vesting tokens among addresses without any restrictions.
  • Possibility to use vesting tokens for staking. The EYWA vesting token holder can stake tokens before the end of the vesting period. This feature will be available after the full launch of the EYWA Oracle Network.

Private seed terms

Conditions for unlocking investor tokens of the Private seed stage:
Total supply (EYWA):
Sales
%, total supply
Vesting period
Unlock scheme
Strategic round
1.0%
18 months
10% 6 months after TGE,
linear unlock after
Round 1
3.5%
18 months
10% 6 months after TGE,
linear unlock after
Round 2
6.7%
18 months
10% 6 months after TGE,
linear unlock after
KOLs round (influencers)
0.8%
12 months
3% on TGE, 3% 2 months after TGE, 4% 4 months after TGE, linear unlock within 8 month
The EYWA tokens are fully locked for 6 months after TGE. At the end of this period, 10% of all tokens will be unlocked, the remaining 90% will be linearly unlocked over the next 12 months.

Public sale terms - alpha-testers

Conditions for unlocking tokens:
%, total supply
Vesting period
Unlock scheme
Airdrop
1%
12 months
10% after mainnet (after announcement), linear unlock
Round for alpha-testers
2.2%
12 months
10% 3 months after sale,
linear unlock after
Tokens are fully locked for 2 months after the distribution of tokens to alpha testers. At the end of this period, 20% of all tokens will be unlocked, the remaining 80% will be linearly unlocked over the next 4 months until the end of the vesting period.
Depending on the number of points earned for participating in the alpha testing, the participants whose addresses were included in the whitelist will share 10,000,000 EYWA among themselves during the airdrop.

Public sale terms - validators

Conditions for unlocking tokens:
%, total supply
Vesting period
Unlock scheme
Round for validators
2%
12 months
10% 3 months after sale, linear unlock after
The tokens of the validators round participants will have the vesting period: they will be locked for 16 months after the validators round. After 12 months, 50% of the tokens will be unlocked and the remaining 50% will be unlocked gradually over the next 4 months. Tokens can only be withdrawn by validators if all validator round requirements are met. At the same time, all stakers (inc. validators and delegators) will be able to claim and move the rewards in EYWA tokens obtained as a result of participation in the consensus.
Currently, we have the round for validators. The main task of the given round is to attract early validators to maintain the work of the decentralized EYWA Oracle Network.
The round participant can buy 100,000 EYWA tokens for $12,000, which is way below the market price. To unlock the tokens, the participant must maintain the node performance for some time period.
You can read about the conditions of the round via the given link.

Founders and team

Conditions for unlocking tokens:
%, total supply
Vesting period
Unlock scheme
Founders and team
17%
36 months
5% 12 months after TGE, linear unlock after
The EYWA tokens are fully locked for 12 months after TGE. At the end of this period, 10% of all tokens will be unlocked, the remaining 90% will be linearly unlocked over the next 12 months.

Advisers

Conditions for unlocking tokens:
%, total supply
Vesting period
Unlock scheme
Advisers
up to 5%
36 months
10% 16 months after TGE, linear unlock after

Market making

A part of the tokens for market making will be released immediately at the time of TGE. The rest of the EYWA tokens for market making will be monthly unlocked in equal parts within the next 5 months after TGE:
%, total supply
Vesting period
Unlock scheme
Market making (on TGE)
0.5%
no vesting
Tokens for market makers to create a liquid market
Longterm market making (with vesting)
5%
20 months
Monthly unlock after TGE
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Outline
TGE mechanics
Initial circulation supply and market cap
EYWA vesting token
Private seed terms
Public sale terms - alpha-testers
Public sale terms - validators
Founders and team
Advisers
Market making