This is an update on the distribution volume of Protocon PEN for the second quarter of 2023. Protocon(PEN) is planning to release a quarterly “Transparency Report” to the community to ensure transparency of token circulation.
1) Private Sale
Correction notice:
Private sale amount: 100,000,000 -> 97,622,245
Private sale lock-up amount: 92,532,222 -> 87,277,226
Private sale distributed amount: 7,467,778 -> 10,345,019 (2,877,241)
(After the distribution plan announced on January 6, 2023, there were additional amounts of coins that were not retrieved, including those resulting from contract terminations.)
2) Development
The revised content is:
2–2) Strategic Investment
- Change in schedule: On August 1st, 2023 and October 24th, 2024, 12.5 million tokens were scheduled to be distributed respectively. However, the distribution schedule for the total of 25 million tokens has been postponed to October 24th, 2024.
3) Governance Reserve
No changes in Schedule
4) Ecosystem Rewards
No changes in Schedule
5) Liquidity Provision
Additional circulating supply: 553,333 PEN
On April 14th, 2023, a total of 3.418 million coins, including an additional liquidity supply of 553,333 coins, have been provided to three exchanges (DigiFinex, Bitmart, and MEXC) for liquidity provision purposes
6) Airdrop & Marketing
Additional circulating supply: 525,927 PEN
As of April 14th, 2023, a total of 6.49 million coins have been distributed for airdrop and marketing purposes, including an additional 525,927 coins that were distributed for community building and activation
6–1) Marketing consultation and Service
Revised quantity: 13,150,000 coins (previously 13,650,000 coins)
Revised unlock date: All coins will now be unlocked on October 12th, 2025 (previously planned to be unlocked between 2023 and 2025).
Out of the 13,150,000 tokens, 7 million will be unlocked and become available for circulation on October 12th, 2025. The remaining 6.15 million have been allocated in a lock-up contract where they cannot be transferred or traded until the expiration date of October 12th, 2025. Upon meeting the lock-up release conditions, the tokens will be gradually released in 4 installments of 15%, 20%, 30%, and 35% with a 3-month interval between each release. If all lock-up release conditions are not met, the tokens will be fully unlocked and become available for circulation on the expiration date.
7) Team & Advisors
No change in Schedule
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