We’re temporarily pausing direct PTN Treasury accumulation to pursue $LEAN buybacks and burns.
Going forward, we plan to redirect our PTN rewards into buying back and burning $LEAN, strengthening the flywheel and pushing us further toward our long-term goal: becoming a major shareholder of @PalatinTech.
We’ll begin as soon as we receive confirmation from @mst1287 that our timelocked supply is successfully accruing PTN rewards.
Foot on the gas. Time to get $LEAN.
We have now locked the remaining 41,237,113 $LEAN from the dev supply.
The lock itself also triggered the 3% tax, approximately 1,237,113 $LEAN which was distributed across holders.
We hope this goes a long way toward addressing the concerns around the original ~9.99% dev allocation.
For full transparency, we still hold ~860,000 $LEAN. We attempted to include the entire remaining balance in the lock, but the contract was running into issues processing the full amount.
We’ll decide what to do with the remaining ~860K at a later date, with options including burning it or distributing it to the community.
Thanks to everyone who stuck with us while we worked through this.
The LEAN-PTN pool now holds 1,491 PTN — 7.91% of the total PTN supply.
The LEAN Treasury holds 214.74 PTN, making it the #9 PTN holder on Solana as of this post.
Distributed to $LEAN holders to date: 3.71K PTN / ~$38,599
LEAN Treasury continues to accumulate PTN.
One of the Raydium legends, @mst1287, helped get our timelocked supply whitelisted.
That means our locked $LEAN can now continue earning PTN reflections while remaining locked.
$PTN accumulation accelerates.
Update on the dev supply:
Our timelocked $LEAN supply will soon be whitelisted, meaning it can remain fully locked while still receiving PTN reflections into our Treasury.
Once everything is live and confirmed working, we plan to timelock the remainder of the dev supply as well.
That means the entire ~9.99% dev allocation will be locked, removing the dev supply overhang while still allowing LEAN’s PTN Treasury to continue growing.
Locked $LEAN. Growing $PTN.
We’re still trying to get in touch with someone from the @LaunchOnSF team regarding our locked $LEAN and PTN reflections. Any help connecting us with the right person would be greatly appreciated.