Why do we lock tokens?
by Maryna Trifonova, Head of Content at Jax.Network
You couldn’t help but notice that we had locked a big percentage of our coins. Naturally, you might want to know why we would need to do so. Here is a brief explanation that will make everything clear for you.
Prior to the public sale, we conducted the private presale for investors, interested in partnering with us and helping to develop our blockchain infrastructure. In addition, the whole team and close friends had a chance to participate in this presale in order to get WJXN at a discounted price. It’s obvious that now the price is higher and the pre-sale buyers might want to sell their tokens to at least recover their principal investment amount. That would cause a price crash as we haven’t released our commercial products and brought value for the end consumer. So, in order to prevent this scenario, we locked those tokens for a certain agreed-upon period of time using Unicrypt.
If you would like to check how many tokens are locked and for how long, feel free to use this quick guide. You also may check the locked liquidity by following this link. At the moment of writing, there are 24,490,852 WJXN tokens locked, making it 61.22% of the total supply.
Locking tokens also gives us enough time to roll out all the critical infrastructure and products we promise to deliver. In addition, it helps us to show how many tokens there are in circulation, how many tokens are locked, and when they will be released. Thus, we guarantee transparency, meaning everyone at any moment can check any details related to our WJXN tokens.
We also would like to point out that the number of tokens will be only decreasing throughout the course of our public sale. We will keep burning tokens to ensure that we raise no more than the originally planned $16 mln.
Conclusion
We have to lock some tokens in order to prevent early buyers from dumping. That will also ensure that we have enough time and resources to launch all the products. Everyone can check the number of locked tokens at any moment.
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