ANNOUNCEMENT Current name auctions will be finalized this Friday at 3pm ET, in two days
After then, users can continue bidding on yet-unbid names, those names will be finalized on successive Fridays
Soon early adopters can sleep tight knowing exactly what they own 💭💭💭
Unlocking $ONDO: A Proposal from the Ondo Foundation
The Ondo Foundation is thrilled to present our proposal to release $ONDO tokens from the global lock-up, a major step in aligning our community toward a future of open, transparent, and efficient global finance.
$ONDO token holders are entrusted with shaping the future of the Ondo DAO so that it continues to pursue its mission to democratize access to institutional-grade finance.
The Ondo DAO has the following capabilities and rights:
✅ Add and remove collateral, update oracle addresses, update interest markets, and perform other predefined actions at @FluxDeFi
✅ Manage a treasury of assets
✅ Control $ONDO emissions
✅ Call any arbitrary function
The capability to execute these initiatives is already fully established at the Ondo DAO and any future features would need to be established by a decentralized group of $ONDO holders.
The Ondo DAO is supported by the Ondo Foundation. Notably, the Ondo Foundation, through its subsidiaries, owns 99% of the common equity in Ondo USDY LLC, the issuer of $USDY. The Ondo Foundation therefore benefits from the growth of $USDY and uses proceeds from this growth in furtherance of its mission.
$ONDO Distribution:
➡️ Token Symbol: $ONDO
➡️ Max Supply: 10,000,000,000
➡️ Initial Circulating Supply: 1,426,647,567 (~14.3%)
➡️ Vesting: More than 85% of the $ONDO tokens would be initially locked and locked tokens would unlock 12, 24, 36, 48, and 60 months after the initial token unlock.
➡️ Investors and Team: Private sale investors (excludes CoinList purchasers) and core contributors would all remain locked up for at least 12 months with a subsequent release over the following four years (five years total).
➡️ Immediate Unlock for CoinList Purchasers: Participants in the Community Access Sale (facilitated by CoinList in May 2022) would be released entirely from the Global Lock-Up, with their tokens therefore representing a substantial portion of the initial circulating supply.
$ONDO tokens are allocated across the following main categories:
➡️ Community Access Sale: 198,884,411 (~2.0%)
➡️ Ecosystem Growth: 5,210,869,545 (~52.1%)
➡️ Protocol Development: 3,300,000 (33.0%)
➡️ Private Sales: 1,290,246,044 (~12.9%)
This proposal describes an unlock schedule relative to a to-be-determined date when the tokens first become transferable (the “Public Launch”). For example, “M2” refers to two months from the Public Launch. In this proposal, the Ondo Foundation would be responsible for choosing the exact Public Launch date, and it is expected that the Ondo Foundation will choose a Public Launch date to occur before March 31, 2024.
Read more at: https://t.co/bFHmmoHHq8
Now that the news is out, we might as well tell you more!
Starknet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralisation for generations to come. The success of Starknet depends on this.
With that, we’re excited to share the next steps of our journey ahead together.
TLDR: We have plans to allocate over 1.8bn STRK tokens across multiple initiatives to drive the adoption and growth of the Starknet blockchain. The first is about to start soon.
1/ Provisions Committee & Initial Distribution of STRK
The Provisions Committee has been allocated 900M STRK for the fair, decentralised and transparent distribution of STRK over multiple programs and phases. The committee’s objective is to distribute ownership of the network’s native token and to reward past and future contributions by users and community members.
We’ve been working on the first phase of distributions for a while now and we are close to getting this over the line. There’ll be more formal communications on this soon.
2/ Network Rebates in STRK
Additionally, we’ve dedicated another 900M STRK to user rebates.
Planning for this initiative is currently underway and a new committee is being formed to oversee the distribution of STRK to reward users for their vital transactions on the network. This marks a bold step in valuing and empowering our user community by rebating them for their transaction fees on the network.
3/ On-Chain Incentives for DeFi
We’ve allocated an initial 50M STRK to explore the direct, indirect and retroactive incentivisation of activity on DeFi protocols by boosting liquidity, volume traded and general growth of the DeFi landscape on Starknet.
This is led by the DeFi Committee. They are nearing the end of their research phase and will move into execution and deployment in Q1 2024.
4/ And more!
Next week, we’ll be announcing an innovative new incentive mechanism for developers & dapps on the network. This is all we can reveal for now, stay tuned for our update next week.
* Eligibility to receive STRK tokens will be subject to terms & conditions.
To celebrate our @0xMantle integration, we're giving all #TrustWallet users the chance to take part in our exclusive $MNT airdrop! 🚀
Entry:
💙 Like & Reshare
💙 Follow @TrustWallet
💙 Mint a SBT on Mantle Journey
👇 Complete the Quest!
https://t.co/KrXlJPo8Ye
We have seen that a preview of an iteration of a possible provisions portal has been shared on social media. As noted a year ago in the original announcement of the STRK token, the Starknet Foundation is developing plans to distribute the token to certain users/contributors for past activity at some point. Tech teams build and test different front ends, some of which see the light of day and some which don't.
Please note that the screenshots contained draft plans that are still under development. The cut-off for any criteria used to determine who may receive tokens or how many tokens is in the past and no actions or activity now can impact eligibility in any way. We will share the finalized official criteria and details around the provision allocations when they are ready.
Lastly, please beware of scams. Follow information on our official channels.
1/6 Last week, TFL injected $15M of capital into the Terra ecosystem on @astroport_fi and @uraxyz_, making liquidity on Terra for blue chip assets like $BTC and $ETH the deepest of any @cosmos chain 🔥
Info on the deployment 🧵⤵️
🛸 Boarding the Gateway to @Scroll_ZKP with Orbiter Finance in @Galxe!
🌟Complete a transfer (ETH) from #Sepolia to Scroll Sepolia via https://t.co/FLBsqaHt49 to claim the #NFT.
⏰12th Sep - 19th Sep 09:00 UTC The Reward is waiting for you here!
https://t.co/v9rLNzdD8Z
@holographxyz
Holograph is a suite of multichain tools for web3 creativity built on LayerZero. Holograph just launched on multiple mainnets and enables fast, easy, and low cost multichain digital asset creation ✨
Already over 3K+ collections created!
https://t.co/35uN0tRzBQ