First Tranche of DGTX Tokens Released From Team Vesting Smart Contract
In today's post, we would like to address how the DGTX tokens will be released to the Digitex team members, as well as Adam Todd, Founder and CEO, from the smart contract vesting schedule. Feel free to monitor this by checking the DGTX balance at any time through the addresses listed below.
In our ICO, the Digitex team received 10% of the total supply of DGTX as compensation for past and future work. These 100 million DGTX tokens were locked into a vesting smart contract that makes sure the team is vested in the project for at least 3 years. The smart contract was developed and audited by SmartDec.net and you can read the specs and source code of the contract here.
DGTX tokens are released from the smart contract on a vesting schedule that releases 25% of the balance after 6 months and then releases a further 6.25% of the balance every 3 months for 3 years. After 3 years the team will have received all of their DGTX tokens from the vesting smart contract.
On July 15th 2018 the first 25% of the DGTX balance became available to withdraw from the team vesting smart contract. None of the team are selling any of their tokens so there was no rush to withdraw but today we did finally get around to it and 25 million DGTX (25% of balance) were withdrawn from the team vesting smart contract.
We are now in the process of distributing those tokens to team members. You can view the vesting smart contract’s remaining balance and track where the withdrawn tokens are being sent to by viewing this address.
The next withdrawal from the team vesting smart contract will be 6.25 million DGTX (6.25% of original balance) on October 15th 2018.
Adam Todd, CEO & Founder of Digitex had a total of 40 million DGTX tokens locked in the team’s vesting smart contract. This means that he received 10 million DGTX tokens from today’s withdrawal and he has a remaining balance of 30 million DGTX that are still locked up. To demonstrate his ongoing commitment to the project Adam will not be selling any of his released tokens this year and you can monitor this by checking his DGTX balance at any time.
Thank you, as always for supporting this exciting and disruptive blockchain project! Stay tuned, as we will continue to keep you informed about our company news and development progress. If you haven’t already done so, be sure to join our waitlist to get early access to the zero-fee futures exchange launching at the end of this year.