On April 7th, Moonlight released Addendum 1 to their white paper, expanding on section 6, concerning token and funding allocation, and vesting structure. Moonlight is founded by members of City of Zion, and is building a decentralised workforce platform that will enable resourcing, project management, crowdfunding and remittance on the NEO blockchain.
Moonlight plans to hold its LUX token sale in Q2, with the token exchange rate pinned to NEO, GAS and ETH rather than USD. One billion tokens will be minted, with 25% available during the pre-sale and 25% available during the public sale. 30% of the total supply will be allocated towards immediate project growth, and 20% towards vested project growth. The exchange rates are as follows –
- 1 NEO = 2,000 LUX
- 1 GAS = 800 LUX
- 1 ETH = 15,000 LUX
The newly released addendum provides further information on the use of raised funds and minted tokens. The breakdown is as follows:
Immediate project growth (30%)
- 10% – Founders
- 9% – Strategic partners
- 11% – Core development and advisory budget
Vested project growth (20%)
- 20% – Locked in the smart contract for 24 months and will be used to accelerate new project
Pre-sale & Public sale (50%)
- 18% – Regular staffing
- 20% – (Growth) Task seeding, marketing and user base
- 12% – Business health, infrastructure and strategic investments
Moonlight have made an effort to emphasise responsible token sale behaviour, deciding against offering a private sale or promoting the project through social bounties. As part of this commitment, a comparatively low percentage of funds (10%) will be reserved for the founders. Founder funds will also be dispersed over a 18 month period, following a linear quarterly maturation and beginning six months after the token sale end.
Furthermore, the main portion of funds allocated towards task seeding, marketing and user base (20%) will be directly reinvested back into the NEO ecosystem. As the Moonlight platform requires an active user base, the project will seed tasks that will benefit the ecosystem growth, such as funding new compilers and development tools, through the Moonlight platform.
For more detailed information, you can read the full addendum at the below link:
You can learn more about Moonlight on their website, Discord, Twitter, Telegram and Medium.
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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