Umi Digital Team Tokens Locked using Ceres Token Locker
UMI developers token allocation has been locked for 12 months using the publicly verifiable and trusted Ceres Token Locker
As set out in the original token distribution plan of UMI, 18.18% of the total supply was allocated to the team. In the 14 months since the token generation event, the team and advisors have not removed or sold any of these tokens!
After a public referendum hosted online in the Official Umi Digital Telegram group, the community have spoken and proposed that UMI developers should lock the team token allocation for 12 months so as to increase confidence in the trading of XOR/UMI on Polkaswap going forward.
A total of 62% of the votes were in favor of locking the tokens versus 29% who wanted to burn the tokens. The results of the vote can be found here.
The team token allocation is 6,000,000,000 UMI and these tokens will be locked for 12 months starting on 29th May, 2022. This will effectively remove these tokens from the total supply and they cannot be moved, withdrawn or traded until the pre-selected time has passed. Ceres Token Locker is the most popular method for teams to use on the SORA chain, and they provide an easy to use GUI where non-technical users can easily lock tokens and also verify this was done online.
So now it is time to make the OFFICIAL token lock announcement; all of the team UMI token allocation will be LOCKED FOR 12 MONTHS beginning on 29/05/2022! This is a total of 6,000,000,000 UMI tokens or approximately 18.18% of total supply (not a small amount by any standards) that will be removed from the circulating supply. The fee for locking (0.5%) will be taken from the locked amount.