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Genesis
The launch of Ring Protocol 🚀
Ring Protocol launched at May-28-2021 07:52:23 PM +UTC.
As part of the Genesis launch, Ring Protocol will deploy RUSD and RING on Uniswap V3. This will amount to 10% of the RING initial token distribution. The corresponding RUSD will be minted by the protocol at the price of 0.05 RUSD per RING and can be unlocked by DAO.
The Ring Core Team and early-backers will own timelocked RING as well as the LP tokens associated with the IDO. These timelocks follow a linear release schedule over a 4 year window on the contract level. The Ring Core Team has elected a back-weighted 3 year timelock period. All tokens follow the 3 year timelock on the contract level. The difference for the team will be managed at the company level.
The RING will be held in a special timelock called the TimelockedDelegator which allows for sub-delegation of portions of the held tokens, even while timelocked. If you'd like to be considered as a sponsored delegate, reach out on Discord.
Last modified 2yr ago