650 million KAI (80% private allocation) bought back and locked in Foundation Reserve
In a continuous effort to be transparent and create a healthy community, KardiaChain is pleased to announce that we reached a settlement to buy back 650 million KAI, equivalent to 80% of the total private allocation pool, from a number of private investors.
We will proceed to lock the whole amount immediately into the Foundation Reserve allocation. It’s noteworthy that Foundation Reserve tokens are locked for 12 months and vested over 24 months. The pool is used for reinvesting in advanced technologies and pushing blockchain mass adoption.
The 650 million “bought & locked” KAI accounts for 13% of the total supply or roughly 40% of circulating supply and will offer incredible value to both our community of KAI holders and the development model of the project itself. By reinvesting revenue into the project, we are ensuring stability for years to come. Besides, we are well equipped for expanding our reach into the other ASEAN markets in the future.
We hope this provides our community with a clearer understanding of the foundation commitment to them and the goal of blockchain mass adoption.
Please check the updated token metric release following this announcement here:
Details: https://docs.google.com/spreadsheets/d/1Dbq0sHh0nJhr0lWiUYFd9o4yyMTWQigjDM7NuBJ-Cfc/edit?usp=sharing
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