Official Announcement About FOL Token Metrics

Dear Folderlabs’s Fan,

Today, we are announcing a detail of FOL token metrics. There will be a lock-ups and vesting for Team, Reserve token to commit our goals. None of these tokens will go into circulation at this time. Ahead of the end of the next lock-up period, the Folderlabs team intends to announce its FOL Token Distribution Plan. The goal of this plan will be to clearly outline how these tokens will be used and over what period of time.

Token Distribution Terms

So far, Folder Protocol has raised $3.25M in two prior rounds. The terms were as follows:

After 2 months lock-ups all private round investors will receive ~4.2% of their token allocations. The remaining allocations will be released over a period of 2 years starting at the TGE launch and are subject to the following terms:

Private:`

• Amount: $3,000,000
• Valuation: $0.1 / FOL plus value added
• Distribution: starts on month 2 after TGE, finishes on month 24

During all private rounds, early supporters were nominated for token grants under the condition to contribute to the development of the network — which will be further assessed before each token distribution event. Tokens allocated to the early supporters account for ~ 1.5% FOL token supply. Full release schedule is further provided in the form of the distribution table.

Public:

• Valuation: $0.1 / FOL
• Distribution: 100% as ERC20, no vesting
• FOL (ERC20) Contract Address: 0xA8580F3363684d76055bdC6660CaeFe8709744e1
• Total liquidity FOL for Uniswap = 2,000,000 FOL
• Initial liquidity FOL = 500,000 FOL
• Remaining liquidity FOL of 1,500,000 FOL will be added in the liquidity pool during 1 year time. Around 120,000 FOL per Month

*Tokens allocated to the public round are unvested.

When our team at Folderlabs architected the FOL IDO on Uniswap, our goal was to ensure we had enough runway to realize our grand vision: to provides the most secure, largest, fastest network and token that clients and miners can use to enter storage contracts in a peer-to-peer fashion.

Token Allocation

Developers & Team (5%)

Vested over 24 months with distribution starting 12 months after TGE

The long term commitment of the team is key for reaching a level of network maturity at which decentralization and government decisions can take over. The developers will contribute to the open source codebase of the Folder Protocol Network and steer the early direction of the product. After full scope delivery, the on-chain contracting module will enable network governance to incentivise development without relying on any single entity contributing to further development effort.

Marketing (5%)

Vested over 24 months with distribution starting at TGE

In comparison to industry standards Folder Protocol has decided to vest marketing over a considerable period of time. This ensures that marketing strategy are fully aligned with the long term vision of the project.

R&D (10%)

Vested over 24 months with distribution starting at TGE

The R&D tokens will only be used for the purpose of Research & Development. Folderlabs will not hold or earn staking rewards.

Reserve & Liquidity (8.25%)

Vested over 24 months with distribution starting 6 months after TGE

To accomplish this lofty goal, we created a reserve of 12 million tokens we could use in the future to fuel the growth of our network. These tokens were placed into 6 months lock-up and 24 months vesting to be used at a later date.

Among the ways we envisioned using these tokens included: financing future developments of Folder Protocol and the network, employee compensation, for grants or the purchase of equity in partners and other third-party projects built on top of the Folder Protocol ecosystem, Miners payouts and incentives, a bounty program to incentivize certain projects and many other uses.

These reserve tokens are critical to the long-term success of Folder and the network. Rather than selling all these tokens during the crowd sale earlier this year, we saw value in reserving them, so we could incentivize the community with tokens, giving them a reason to earn and use the tokens on the network.

Conclusion

We want to be as transparent as possible around how we are using these tokens. We view the community as an extension of our internal team and want to ensure everyone feels they have a voice in what Folder Protocol aims to become. The Folderlabs team is committed to building the largest decentralized network that helps individual storage clients and storage miners compete for transactions based on price, reputation, reliability, retrievability, and latency. Stay tuned for more details in the first half of 2021!

Website: https://www.folderlabs.io
Telegram group: https://t.me/folderlabs
Announcements channel: https://t.me/folderlabs_channel
Twitter: https://twitter.com/folderlabs
Medium: https://medium.com/@folderlabs
Github: https://github.com/folderlabs/foldercoin
Reddit: https://www.reddit.com/r/injective