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Entangle Announces Adjustments to Unlocking Program for Token NGL

Entangle Announces Adjustments to Unlocking Program for Token NGL

Bitget2024/09/26 12:37

On September 26th, cross-chain interoperability project Entangle announced a major change to the unlocking plan for its token NGL, emphasizing that the changes are designed to ensure the project's long-term growth and that it plans to unveil a new architectural plan in the coming weeks to address the scalability challenges facing Web3. Under the new program, private investors will have the option to unlock all remaining tokens early on October 1, subject to a 37.5% discount. Similarly, KOLs will have the option to unlock the full amount, but at a 47.5% discount. The team token allocation remains unchanged, but 30% destruction has been completed and the unlock period has been extended from 6 months to 12 months and the total vesting period to 30 months. Deducted tokens will be deposited into smart contracts for marketing, grants and program expenses.

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