Conversation

1) (blog-post format: projectserum.com/blog/srm-supply) 90% of all SRM tokens are locked up long-term. We think this is really cool: it means that the core players, including all of the seed investors, are committed to the long-term success of the project.

SBF

@SBF_FTX

Aug 5, 2020

2) The lockup lasts for 7 years (!), with none unlocking in the first year. This is a really long time in crypto, and it’s intentional. It scared away lots of VCs but what it left us with were the ones that were really on board with helping to grow out the ecosystem.

SBF

@SBF_FTX

Aug 5, 2020

3) We’ve gotten a lot of positive feedback about this from the DeFi community. We’ve also gotten some confusion over the circulating supply though, and we’re really grateful for that feedback!

SBF

@SBF_FTX

Aug 5, 2020

4) Just 10% of all SRM are unlocked for the first year. But most of those are ecosystem incentives (e.g. yield for staking). After taking the DeFi community’s feedback into account, we’re happy to announce even further commitments to the long-term health of Serum and SRM!

SBF

@SBF_FTX

Aug 5, 2020

5) The holders of the entire unlocked supply of SRM, including the 175mm tokens previously designated as circulating, have agreed to remove most of their tokens from the initial circulation -- roughly 150mm.

SBF

@SBF_FTX

Aug 5, 2020

6) This leaves us with an updated initial circulating supply of 31mm (6mm SRM allocated to IEO participants, and 25mm allocated to project contributors and liquidity providers).

This Tweet is from a suspended account. Learn more

SBF

@SBF_FTX

Replying to

@Matic_Next_Eth

Not sure where you're getting shillers and influencers from...

7:22 AM · Aug 8, 2020Twitter Web App