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Pirate Nation burns 10 million PIRATE tokens and introduces new vesting schedule
Along side the tip of Season 3 and gamers claiming their S3 rewards, Proof of Play has launched a 180-day vesting schedule. This contains Season 3 and all forthcoming competitions and PIRATE rewards in Pirate Nation.
In keeping with the workforce, the explanation behind the brand new vesting construction is “to maximise long-term alignment between our gamers and the PIRATE ecosystem.”
The vested quantity begins at 10% of tokens and vests progressively till day 180. Customers holding and claiming all their tokens after all the 180 days will likely be rewarded with additional Proof of Play Factors. Any unclaimed PIRATE after that stage will likely be burned.
In the same method, any PIRATE tokens which have been allotted to ineligible individuals thus far – gamers who didn't purchase VIP or a Founder’s Pirate – will likely be burned. This quantities to round 10 million PIRATE tokens, or 1% of the entire provide.
Considerably a shock, the announcement comes shortly after Proof of Play unveiled different main sport updates, together with transferring away from a seasonal construction in direction of shorter PVP tournaments and rewards spanning past PIRATE.
After all, some have critizised the workforce for missing transparency, not speaking their plans for a vesting schedule forward of implementing it. Some suppose it’s an outright rip-off, whereas Steve Kaczynski (The Every part Token) has known as it the “first main misstep” from Proof of Play, saying “the workforce has all the time emphasised constructing a fantastic sport/product over specializing in token value. This transfer looks like a shift from that ethos.”
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