VRA Token Unlock Update

Since the Verasity token’s launch, the Verasity foundation has held VRA tokens locked in project-owned wallets reserved for team and operational expenses. Specifically, a portion of VRA tokens are made available for team expenses related to hiring, incentivising, and retaining talent in the Verasity ecosystem; as well as operational expenses related to marketing activities, exchange listings, events organization, and other expenses required for the growth of the Verasity ecosystem.


These tokens are split into four tranches with yearly cliffs starting from February 2023. The release of these tokens was contingent on the USDT price of VRA being greater than a contracted minimum price level (referred to as the ‘strike price’) up until 2023 as detailed in this article, and/or following this date a minimum time elapsed since the initial lockup. Currently, the latter condition is being satisfied following the time elapsed since the initial token lock, and the scheduled releases have begun. The Verasity team elected not to unlock any tokens in the years 2020, 2021, 2022, or 2023 as originally outlined in the ‘Founders Token Unlock Schedule’.


At the time of writing, the following vested tokens have now been unlocked:


  • 20 February 2023–541,999,289.25 VRA
  • 20 February 2024–541,999,289.25 VRA

The remaining token unlocks are as follows:


  • 20 February 2025–541,999,289.25 VRA
  • 20 February 2026–541,999,289.25 VRA

Tokens scheduled to unlock in February 2023 were postponed until February 2024, following an announcement that team tokens would remain locked for another year after an agreement by the Verasity management team.


In 2022, Verasity opted to count all of our 10.25 billion supply (which is further deflating via quarterly burns) as circulating, up from some 4.5 billion, to include the team and operational wallets, with the intent that all locked tokens being counted in the circulating supply would no longer exert a psychological overhang on our circulating supply.


Therefore, the two tranches of 2023 and 2024 unlocked tokens, and the two locked tranches for 2025 and 2026, are already counted in circulating supply and do not represent an additional overhang. Following this announcement, our circulating supply remains the same as verified and reported here by CoinMarketCap and is subject to quarterly burns.


Vested tokens belonging to individual team members are in their own control, whereas foundation tokens used for operational purposes remain in control of the Verasity foundation for purposes of advancing the Verasity ecosystem. It is at the discretion of the team members in receipt of these tokens and the Verasity management if and when they are utilized.


Please read our full token disclaimer available on our website and in our whitepaper here. Verasity is in the process of migrating to a two-token ecosystem. PoV tokens will migrate to a new blockchain contract and circulating VRA will retain it’s utility and deflationary nature. More details can be found here.


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Token Disclaimer: https://verasity.io/token-disclaimer