PAID launched on the 25th of January. In just two weeks, PAID has become one of the most talked about projects. It has been trending numerous times on the likes of CoinGecko and has occupied the #1 slot on DEXTools for long periods of time. This successful launch has brought with it many new community members and supporters, so we wanted to take the opportunity to remind everyone about how PAID’s token distribution works.
So far, only 15% of the total token supply was allocated for sale and distribution, 5% to advisors, and the remaining is held by the team with no need for short term liquidation. The 15% sold will be distributed over the next 9 months and will be spread over four rounds — Seed, Private A, Private B, and the public sale on Polkastarter.
Each round has different metrics:
PAID tokens offered at $0.0150, raising $500,000. Seed round tokens unlock in month two, and will be distributed over nine months.
PAID tokens offered at $0.0250, raising $750,000. 10% of Private A round tokens unlock at listing, the remaining 90% will be distributed over six months.
PAID tokens offered at $0.0350, raising $700,000. 25% of Private B round tokens unlock at listing, the remaining 75% will be distributed over three months.
PAID tokens to be offered at $0.0420, target funds raised of $249,000 and a market cap of $835,000. 100% of Public round tokens unlock at listing.
Real-world vesting examples
We wanted to provide some real-world examples of how these unlocks will look in the coming months. For example, someone who invested $1,000 in each of the three rounds with locked tokens would face the following situations:
- Seed: $1,000 would result in a total of 66,666 tokens. No seed investor will receive any tokens until the 25th February. At that point, they will receive 7,407 tokens per month until October.
- Private A: The Private A investor investing $1,000, would receive a total of 40,000 tokens. They will have already received 4,000 tokens on the 25th January. They will then receive 6,000 tokens monthly until July.
- Private B: The Private B investor investing $1,000, would be allocated 28,571 tokens in total. They received 7,142 tokens on the 25th January, and would subsequently receive the same amount monthly until April.
Taking the total amount of tokens to be released each month across these rounds, there are:
February — April: 13,203,703 tokens unlocking monthly
May — July: 8,203,703 tokens unlocking monthly
August — October: 3,703,703 tokens unlocking monthly
All tokens from the sales round are unlocked by the 25th October 2021.
To make it easy for everyone, we’ve created a vesting schedule calculator. If you would like to calculate the amount of tokens being released on each date then you can save this sheet as a copy, and edit the cells highlighted in yellow to produce your own calculations.
With the launch now in the rear window, we have been concentrating on our goals of building out PAID Network in accordance with our roadmap, as well as establishing Ignition as the primary IDO platform for new projects to launch. We are again delighted to announce that Shadows, a Tier-1 project set to be the store-of-value backbone of Web 3.0 on Polkadot, will be launching on Ignition soon.
We also outlined details of Ignition’s token and incentive mechanism, which will incentivize PAID holders to hold their PAID tokens in order to be able to participate in these exclusive IDOs. The more tokens the user has, the more likely they are to be able to purchase tokens of new projects launching on Ignition, and the more allocation into these projects they will be able to buy.
The PAID team is in the process of communicating with all early investors in order to put strategies and incentives in place to help ensure the interests of the entire ecosystem are continuously accounted for throughout the course of our journey to change the world together.
We feel the community and our platform continues to grow stronger everyday. This is because of the overwhelming amount of confidence the industry is showing for the platform and the progress our dev teams are consistently making.
We have some incredibly exciting announcements coming up relating to platform releases, Ignition project launches, and the overall availability of the token within the industry. With these impressively strong fundamentals, the excitement and support of our PAID community and the upcoming announcements, it’s easy to see why the industry can’t stop talking about PAID.
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts execute DeFi transactions and business agreements seamlessly, making business exponentially more efficient.
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