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Token Freeze & Token Thaw

Instead of the Hatcher’s TEC tokens becoming available at once to sell or trade, they are locked for some time until a linear function is implemented to unlock tokens, rendering them liquid at a steady trickle.

The Token Freeze is the duration from the initialization of the Commons in which tokens remain fully locked, only at the end of the Token Freeze do tokens begin to thaw. This next period of time is known as the Token Thaw. We use this time for the Commons to establish value and start its initiatives. This mechanism is designed to guarantee, for a certain period, the minimum possible price of the token or, price floor.

During the Hatch, TECH tokens were minted at a value of 1 wxDAI per TECH. At the Commons Upgrade TEC tokens will be given to Hatchers at a 1:1 TEC/TECH ratio. The Opening Price is the price we sell TEC tokens on the Augmented Bonding Curve after the Commons Upgrade is complete.

Early buyers of TEC tokens will benefit from the price floor in that they will be assured its value will never drop below a certain threshold at a given time. As tokens begin to thaw the price floor descends, linearly, eventually reaching zero when 100% of the TEC tokens are rendered liquid. This would be the end of the Token Thaw period. Ideally, by this time the Commons should be well on its way, advancing token engineering, and the TEC token having firm value backing it.

You decide:

  • How long to keep tokens frozen
  • The rate at which tokens become liquid
  • The opening price of the TEC token

If you need more information please check the links below:

Price Floor DynamicsToken Thaw and Token Freeze