Since the release, some coins have been frozen at the contract address in order to increase demand. In this article, we will break down all the details of unlocking WBT Coins.
Private Sale
A portion of 54 million WBT coins were sold in a private sale at $1.62 per 1 WBT. These coins were locked for 3 months, after which 20% of them were unlocked each month for 5 months.
The initial amount of private sale coins (50-75 million) was capped at 54 million WBT to reduce the amount of unlocked coins in the following rounds.
In addition to the private sales, WhiteBIT, as a member of the WB global ecosystem, added 1 million WBT to the WhiteBIT Launchpad as part of the IEO. These coins will remain unblocked.
This brings the maximum total amount of coins in circulation during September to 121 million WBT and 175 million WBT over the next 8 months.
25 million WBT have already been burned, so they are not counted in the remaining inventory. Transaction hash: https://etherscan.io/tx/0x451fa272bb289e88e87f56c036160a8c126f1e1b77bbc0f61d87fd5ef4c196be
Coins also continue to be burned, you can track the number of WBTs burned in the "History of burnings" section of the coin page.
Unlock procedure
The remaining 200 million coins will be allocated to special funds for the development of both WBT and the WhiteBIT global project as a whole. They will be unlocked over a 3 year period, starting with the final round of private sale coin unlocking. Exact dates will be determined once the smart contract is deployed and will be included in future versions of this document.
Team and project coins will be unlocked in the final round. Thus, the volume of the first three phases will be about 60% "treasury" coins, and about 40% in the final round. The coins allocated to the funds will be used in accordance with the goals of the funds.
Support
In case of any questions related to the functionality of our exchange, you can:
- Leave a request on our website;
- Write to the support email: support@whitebit.ge;
- Write to the chat using the button
in the lower right corner of the screen (in the upper right corner of the WhiteBIT Georgia app, click
).