- Exclusive news is rolling from a popular project that launched its Initial Exchange Offering (IEO) on Binance Platform, Matic’s second token unlock is going to commence this April 2020.
- Matic tumbled by 70% on December first week with a historical dumped amount of roughly $60 million in terms of market cap.
- The token release schedule was carefully designed by the team by focusing on the best for the token holders as well as the Matic Network ecosystem.
Exclusive news is rolling from a popular project that offers its Initial Exchange Offering (IEO) on Binance Platform, Matic’s second token unlock is going to commence this April 2020.
M token release schedule was carefully designed by the team by focusing on the best for the token holders as well as the Matic Network ecosystem.
Looking at the aforementioned table which briefs the April 2020 token unlock full detail exposes approximately 12.18% of the total supply that is equivalent to 1,218,304,816 tokens going to be unlocked. While only 1.33% of Total Supply which is allocated to the Advisors will be released.
The Advisory tokens that will be distributed in this unlock will deploy approximately 50% of the tokens to staking. Also, during the October 2019 token unlock, the investors who took the voluntary lock-ups will be distributed in forthcoming days. However, these tokens will not participate in the token unlock.
April 2020 token unlock
At Matic, we take pride in being a community-centric project & stand committed to our vision.
Hence 100% of Team & Foundation tokens are not being unlocked. ~89% of total unlocked tokens NOT to be distributed
Read in detail: https://t.co/5VgQtTVRYf pic.twitter.com/zOlbubdDaE
— Polygon | Aggregated (@0xPolygon) April 6, 2020
The First Unlock Impact on the Market
Besides this, if we look at the first token unlock by Matic it has pumped the market very well in October 2019, with its well-versed performance throughout two weeks a massive drop staggered the market. Matic tumbled by 70% on December first week with a historical dumped amount of roughly $60 million in terms of market cap.
Summing up, only about 11% of tokens are going to be unlocked in this April release. The one owned by the advisors will be distributed. The rest of the tokens will be utilized for long term development of the Matic platform via a variety of growth initiatives to be taken once the mainnet is launched.
Regardless of the second token unlock announcement, the nightmare of the historical drop of Matic is still in the mindset of investors. It’s a question mark whether this time the market of Matic will pump it or dump it.