Guys, first things first: thank you all so much for your support with kick starting and building Graviton so far.
I know that not having claims according to the proposed schedule wasn’t a DAO-based vote. This decision was made by the team for technical / security reasons and other factors which brought us to some delay (market correction, COVID cases in the core team, tech issues with multichain development). I, as the project lead, take the full responsibility for this decision and I am constantly thinking about the best solutions for the project.
Right now we have a strong momentum of growth along all aspects : price, volumes, holders, awareness, partnerships and integrations. Keeping such momentum for a couple of months will bring us to the multichain DeFi leaders and will help acquire strong market makers, VCs and community members, influencers and advocates. At the same time we think that longterm holders and believers in Graviton are crucial for the project’s success.
To me, the decision about the GTON withdrawal strategy is one of the most important governance decisions to be made for the project in the short term. So, based on in depth conversations with the team, advisors, ambassadors and EBs, I reconsidered my opinion and thus decided to add some more context to this decision:
I. Bi-Weekly Doubling: Even though this option was originally proposed as my favourable solution, I am now advocating in favour of option II. A gradual release over 18 weeks doesn’t really solve any potential sell pressure in the short run.
II. Unlimited Withdrawal: Opening up the claims to full capacity according to the unlock schedule. We might face a short term price correction, if some EBs decide to take profit, but we also would be able to focus on building without the distraction of claim discussions. This is also a solution to increase the freedom of individual decision making for every single DAO participant based on the initial EB proposal. In this case, and after some time of high volatility, the core team will put in all their efforts to continue the growth. At the same time, and given the high buy side demand in OTC deals, we will be helping EBs to exit their position with our newly established OTC custody desk, which won’t impact the GTON price. EBs basically sell their EB allocation to a buyer who becomes a new EB, while the GTON follow the same unlock schedule.
As mentioned above, the team and I are now convinced that opening the claims as planned is the most beneficial approach in the long run.
Nonetheless, the team will be implementing whatever option will be chosen by the governance vote. Rest assured that the whole core team’s goal is to continue growing and making Graviton a success for the community and as a leading multichain ecosystem.
Apart from my opinion/recommendation, and since we are having a very active discussion, I would be really keen to learn more about your opinions, ideas and also proposals for this topic.
We have to make a decision as a DAO and work as a united team for the project’s success.
Thanks again and best,