Alisa Davidson
Published: December 17, 2024 at 6:05 am Updated: December 17, 2024 at 6:05 am
Edited and fact-checked:
December 17, 2024 at 6:05 am
In Brief
Glacier Network introduced the updated GLS token listing Bootstrap Plan, reallocating 1% of the total token supply to the community.
Decentralized data composable protocol Glacier Network introduced the updated GLS token listing Bootstrap Plan, which aims to redefine the approach to fair token launches with a strong emphasis on community ownership.
A key update involves Glacier Network’s early investors agreeing to adjust and reduce their unlock ratios during the Token Generation Event (TGE). Specifically, 65.04% of Angel Round investors reduced their unlock ratio from 5% to 0%, while 53.68% of Pre-seed Round investors lowered theirs from 10% to 0%. Additionally, 48.21% of Seed Round investors have also reduced their unlock ratio from 20% to 0%.
As a result, 10,000,100 GLS, 1% of the total supply, that was originally planned to unlock at TGE, from a total of 18,500,000 GLS, 1.85% of the total supply, will now be reallocated to the community.
This update is anticipated to enhance community ownership by giving the community an opportunity to acquire GLS before it becomes available exclusively on exchanges while also reducing the token unlocks for venture capitalists (VCs) at the TGE. Additionally, it aims to address concerns related to whitelist issues, providing affected individuals a chance to participate in this round.
The adjustment also helps maintain strong community engagement and excitement leading up to the GLS listing. A larger float in the market will contribute to better price stability, making it easier for participants to enter or exit positions. It will also minimize speculative pressure by aligning token distribution with community-driven values.
How To Participate In GLS Listing Bootstrapping Round?Â
A total of 1% of the GLS total supply has been reallocated for this Listing Bootstrapping as compensation for the affected participants.
In order to participate, users are encouraged to verify their address eligibility on the network’s website. The GLS Listing Bootstrapping Round will be hosted exclusively on the official Glacier Network website. This round presents the final opportunity for the community to secure GLS before its listing at 10 AM UTC on December 18th, and it’s an opportunity extended to those who have supported Glacier Network throughout its development.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
