Gnosis Token Auction #Update - 85% locked when GNO hits the markets !
The Gnosis Team announced to lock 99% of the unsold $ GNO tokens in an ethereum smart contract for at least 1 year !
I mentioned the questionable Token Distibution results in my last Post about the Gnosis auction.
The Investors are getting the worst ~ 4 % , as Gnosis owns ~96%
So what's next ?
The GNO Tokens will be tradable in about 5 days.
See the countdown here:
https://gnosis.pm/token
Here is an update to notice:
The Gnosis Team (which holds ~96% of all Tokens)
announced to lock 99% of the unsold Tokens for about 1 year.
See the Ethereum Vault Contract here:
https://etherscan.io/token/Gnosis?a=0x3257bde8cf067ae6f1ddc0e4b140fe02e3c5e44f
Balance: 8,495,410 Gnosis - [84.9541%]
So ~85 % of all GNO are locked for at least 1 one year !
This is a notable circumstance if you are interested in the trade of GNO.
So, there was formed this heavy unilateral Token distribution during the short auction sale.
But additional the liquidity will be basically limited, when the Token enter the markets.
This will be interesting to watch,
There is a correlation between Liquidity and Volatility
Be aware, there are only ~14 % of the GNO available to enter the exchanges in the near future.
- 4% of the Tokens can be liquidiated by the auction sale participants
- the other 10% of all tokens are also owned by the gnosis team.
(these tokens are not "unsold" and reserved for paying development)
The Sale Price was 30$ per GNO
creating a 300 milion Dollar market capitalization of all GNO Token.
Will Investors dump regardless of the price ?!
(based on bad Tokendistribution)
Is there still FOMO ?!
(will low liquidity trigger a competition of demand ?)
But no matter how this goes...
This unfortunately won't improve the spread of Tokens to the users !
(but actually it shows the cleverness of the gnosis team...)
Be Aware, Be Patient, Be Prudent !
