Trinity Protocol has announced a delay to its employee stock ownership plan (ESOP) unlock schedule that was due to commence in February this year.
Originally, approximately 180,000,000 TNC were to be distributed to Trinity Protocol team members as part of the platform’s internal rewards program.
However due to “market conditions,” Trinity has instead postponed the distribution until after February of 2020.
As 180,670,000 TNC will remain locked, this will reduce the amount of TNC in circulation.
According to Trinity’s whitepaper, the amount of TNC in circulation was due to reach a total of 485,996,666 by February of 2019 and would have remained at that level until February of 2020. The number of tokens would have then risen to 657,331,110 the next year and then 828,665,554 the year afterwards until it reached the one billion TNC hard cap.
The current number of TNC in circulation today is 333,333,333. This number is not expected to increase as the ESOP unlock schedule has been postponed.
In regards to the remaining number of locked TNC held by the Trinity Foundation, the platform has noted that it could potentially use its stored assets as part of an incentive for its community.
The article states, “the Trinity Foundation will also consider the adoption of mining based on state channels and reward participants, maintainers and contributors of the Trinity network with 333 million TNC that are locked. The team will detail the program soon and hope to be supported by the community.”
About The Author: Matthew North
Matthew North is a freelance writer and journalist who resides in East Asia. He spends his time writing and learning about financial technologies like the Blockchain and digital currencies. You can follow him on twitter @fintech_matthew.
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