Team tokens lockup and vesting period increased
The team has decided to increase our lockup period from 6 months to 9 months, with tokens remaining locked till January 21st, 2023.
Why are we doing this?
In the interest of transparency to our community, we want to share our plan with the vesting schedule of team tokens. Extending the lockup period allows us to align incentives and demonstrate to both the community and our investors, through actions, that we are committed to Bastion.
The first unlock for team and advisors was supposed to be on October 21st 2022. However, to reassure the community of our goals and vision, the Team will not unlock any of these tokens till 21st of January 2023. They will continue to vest linearly for 15 months thereafter as originally proposed, meaning all team tokens will become fully vested 2 years after the TGE on April 21st, 2022.
Bastion is a Lending and Stableswap protocol built on Aurora, NEAR’s EVM-compatible layer. The project innovates with novel features such as: isolated markets, interest rate swaps, increased receipt token utility, veTokens, gauges, and boosters. Building on Aurora enables Bastion to create an autonomous interest-rate engine with superior capital efficiency, low slippage swaps, fast transactions, ultra-low fees, precise liquidations, and harness the underlying UX benefits of NEAR.
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DISCLAIMER: This article does not constitute investment advice. Bastion Protocol Token (BSTN) is a means by which users may utilize and govern the protocol. Bastion does not recommend purchasing BSTN for speculative investment purposes. BSTN tokens may lose value or have no value and may have no market. Please read the full disclaimers here.