Many of you have likely read articles or other posts around the web about the upcoming XAI unlock. We’ve seen numbers as high as 79%. These reports are incorrect.
Ahead of the upcoming unlock, we're announcing that the Xai contributors have agreed to relock their July unlock tokens over 6 months. This brought the team number down from ~85M to ~17.7M in July.
The upcoming July unlock includes: Investor: ~72.3M Team: ~17.7M Advisor: ~4.2M DAC: ~5.2M Xai Foundation: ~8.5M
The sum of all of this is approximately ~107.9M tokens unlocking in July. The current circulating supply of XAI is ~300M tokens. The ~107.9M tokens account for a ~36% increase, resulting in about 26% of the new circulating supply total. Please note the current totalSupply is 1,473,270,834. Also note esXAI is not counted amongst circulating supply as it is non-transferable.
All tokens unlocking from each allocation are unlocked on a daily unlock, not monthly. This is for all months, not just July. This means there is not a single day where a large amount of tokens will unlock all at once. Thank you for your support.
There will be an onchain mint of Xai tokens. Please DO NOT be alarmed. This is part of a scheduled mint.
The Xai Foundation will be periodically minting tokens as per the emissions scheduled noted in the Xai Gitbook.
Please note that these tokens were not initially minted to maximize node emissions.
Additional mints are estimated to take place in this year. These mints will be strategically executed to minimize the impact on Sentry Node emissions and help ensure halvings do not happen prematurely.
Xai Sentry node holders are the cornerstone of our Staking ecosystem.
They secure the network and ensure the integrity of the Xai blockchain.
Even without a Sentry Key, community members in eligible regions can convert XAI to esXAI and join a staking pool at https://t.co/ldc07uCP94 with a redemption period for converting back.