1.4 Billion MATIC Unlocked! Is it a Bearish Signal?

Delighting its investors with its recent aggressive rise, MATICSome movements in ‘confused the investors.

about 12 hours ago total MATIC 1.4 billion MATICs, accounting for 14% of its supply, were unlocked and withdrawn from the contract.

Investors such a large amount MATICIs moving of a dump signal? While searching for the answer to the question, the answer came from Sandeep Nailwal, the co-founder of Polygon.

Nailwal stated that these MATICs have not been unlocked yet, that the movement in question is related to the tokens that were unlocked 1 year ago and it was a planned move.

polygon In the announcement made by the team, it was explained where these tokens went and it was emphasized that there was nothing to worry about.

“As of April 21, 1,386,609,632 MATICs have been unlocked.

These entitlements were already specified in the smart contract. However, it has not been requested so far.

Vesting of founding partners 640,000,000 MATIC (6.4% of supply)

Half of them are unlocked in October 2021 and the other half in April 2022. The founding partners have committed to stake these MATICs directly if they request it.

Amount going to Polygon Foundation 546,609,632 MATIC (5.46% of supply)

These were awarded in October 2021 and April 2022. It is promised that the community will be informed in advance of any mobility in the foundation wallets.

200,000,000 MATIC unlocked as stake reward (2% of supply).

These include stake rewards for the period May-December 2021.”

As these unlocked tokens go to the founders and the foundation, there is a no dump signal comments were made.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!


source site-5