🦺Vesting

Vesting limits the liquidity of ADX owned by protocol contributors while enabling them to govern efficiently in the early stages of the protocol's progressive decentralization

The Adrena smart contract includes a sovereign vesting module that manages $ADX emissions earned by contributors who gave time or capital to build the protocol. All vests are transparently on-chain and distributed programmatically by the Adrena smart contract.

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Early Contributor Vesting

Early contributors began work in January of 2023. Vesting for this group will be paused for 3 months after the platform goes live, and then proceed to unlock linearly every month for the next 21 months. There is no cliff with any large unlocks. This 3 month lock period is designed to provide time for post-launch price discovery, to prioritize liquidity to early stakers (including Genesis Lock ALP), and to enable other market participants to buy and sell the token first.

❌ Unvested Staking

To prevent unfairly concentrating early protocol revenue to Early Contributors, unvested tokens are not stakeable and therefore earn zero revenue share.

✅ Unvested Governance

To facilitate efficient decision making in the initial growth stage of the protocol, Adrena provides for unvested Early Contributor tokens to vote 1:1. and core launch team 1:4 (for security reason to enable majority for the first few month, in the context of locked stake multipliers). This power concentration will naturally erode over time as tokens are emitted

Early Contributors Details

• Includes launch team, pre-seed, seed, strategic

• This allocation is on a 3 month lock (not cliff). This means months 0-3 there are no $ADX emissions for anyone in this category. On month 4, this allocation unlocks and starts to linearly vest $ADX over the subsequent 21 months. This will emit 17,142,857.142857 $ADX per month.

• Even though this $ADX is locked and vesting, Core Contributors will have full 1:1 voting power with their $ADX, and core launch team 1:4. This is to ensure the ability for the Launch Team to quickly pass proposals during the early stages of Adrena. At a certain point (number of months), the circulating supply will have a majority vote over the launch team.

• It is important to note that Core Contributors can not stake or earn any rewards/emissions during months 0-3. From month 4 on, these users will be able to stake their monthly unlocked $ADX.