Immutable extends token vesting period another year
In an Oct. 17 post on X, Immutable co-founder Robbie Ferguson shares the news that the vesting of $67 million in token rewards will be delayed until July 2024. The move is said to enhance the Web3 game development platform’s long-term sustainability. Token unlock postponed According to the post, Immutable committed to re-locking 125M $IMX of the project’s dev allocation for another year, meaning that it would be just a few weeks from now the token s were scheduled to unlock. In a follow-up post, Ferguson stated that when the token s do unlock in July, they will be done on a linear monthly vesting schedule over time rather than a cliff. 1/ We're here for the long run. Last year, we committed to re-locking 125M $IMX of @Immutable’s Project Dev allocation for another 1 year. A few weeks from now, these token s are scheduled to unlock. We’re proud to once again re-lock this allocation until July 2024 at a minimum. — Robbie Ferguson 🅧 | Immutable (@0xferg) Oct...