Title: Update to Hord’s Vesting schedule & extending the foundation lock
Authors: Meir Rosenschein & Jonathan Ganor
Status: RFC
Submission Date: 11/23/2023
Summary:
This RFC proposes an update to Hord’s tokenomics, focusing on adjusting the supply allocation, updating the circulating supply to represent the reality of the token, and extending the foundation token vesting. The proposal will extend the Hord Foundation’s vesting period from 2 years to 7 years. The aim is to align the distribution with the current state of development and ensure a more sustainable structure for growth.
Motivation:
As part of Hord’s commitment and to ensure the best for our community, a revision of the vesting schedule is essential. Extending the foundation token vesting to 7 years from TGE ensures a committed, long-term approach. After the update the circulating supply will be at 78%, with only part of the foundation tokens and team tokens out of circulation. The CS update will provide a more accurate and sustainable figure for growth, as on most platforms right now is showing a 30% CS, which is not appealing to new investors and doesn’t reflect the reality of the token.
Specification & Implementation:
Foundation Vesting 21% of HORD’s circulating supply: Extend vesting from 2 years to 7 years from TGE to reinforce a long-term commitment.
Here is the updated vesting schedule: HORD Vesting Schedule - Google Sheets
Rationale:
This adjustment is crucial for transparency and aligning token distribution with the project’s trajectory. The extended vesting for foundation tokens demonstrates a commitment to long-term success.
Voting:
We are now in the discussion phase, which will last for 7 days, until November 30 at 10 pm UTC.