Cryptocurrency projects are always undergoing changes, upgrades, and updates. For Orion Protocol, an important change regarding the vesting schedule has been announced. A great way to stem the flow of tokens on the secondary market, among other things.
Core Orion Protocol Changes
Similar to a lot of other projects in the cryptocurrency space, Orion Protocol has a bit of an interesting vesting schedule. Some tokens were sold during a private sale, allowing users to begin pre-staking on supported platforms. This method works quite well, but it has also raised some new concerns. More specifically, there is a growing number of ORN tokens on the secondary markets, which is driving the price down.
Addressing such a situation is never straightforward. Making a decision that makes everyone happy will be impossible. In a blog post, the team explains it has come up with a middle path that can introduce some positive changes. Extending the current vesting schedule from 6 to 19 months and reducing the amount released is a good first step.
For the next few months, the vesting schedule will remain at 10%. This will run until December 2021, when it will be reduced to 5%. Contrary to what most people may expect, this is good news for the private sale participants. They too benefit from this reduced impact of token releases. After all, no one wants to see their assets lose value continuously.
Making such a decision combines the best of both worlds. Those currently engaged in pre-staking will be able to reap the rewards accordingly. Private sale investors will – under normal circumstances – see far less ORN volatility. The true outcome of this change has yet to be determined. Markets often tend to respond in funny ways, regardless of what is happening behind the scenes.
More Partners are Coming
This vesting decision is, on paper, a good thing for the Orion Protocol project. Several of the project’s key partners have requested this change to be made. Which partners will be announced in the future, has yet to become apparent. When partners propose a change, it is crucial to respond as quickly as possible.
In the long term, the vesting schedule change will benefit Orion Protocol and its investors. For the team, being able to focus on the product, instead of handling market complaints, will prove beneficial as well. Development is still ongoing behind the scenes, with 10 developers now working on the project.
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