Entangle adjusts the token NGL unlocking plan, allowing private investors and KOLs to choose early unlocking

ChainCatcher news, the cross-chain interoperability project Entangle announced on social media a significant adjustment to its token NGL unlocking plan, emphasizing that these adjustments are aimed at ensuring the long-term development of the project. They plan to unveil a new structural plan in the coming weeks to address the scalability challenges facing Web3.

According to the new plan, private investors can choose to unlock all remaining tokens early on October 1, but must accept a 37.5% discount. Similarly, KOLs can also choose full unlocking, but the discount rate is 47.5%. The team token allocation remains unchanged, but 30% has been burned, and the unlocking period has been extended from the original 6 months to 12 months, with the total vesting period extended to 30 months. The deducted tokens will be deposited into a smart contract for marketing, grants, and project expenses.