So I just noticed that for the unlocking of option

Question

So I just noticed that for the unlocking of option

1, all those tokens will be finished unlocking end of this month.

How do those tokens go from being unlocked to entering the circulating supply?

#cryptocurrency #english #reserve

0

05.06.2022

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Brandon Автор вопроса

Sinatra
The remaining RSR tokens in the Option 1 unlocking...

From what I understand, these past 5 months tokens have been unlocking gradually correct? Were those tokens treated the same, an ETH transaction of liquid RSR? But from what it sounds like, those option 1 participants have decided not to take the liquid RSR these past months now due to selling demand? Because clearly there should be way more circulating RSR since a ton of RSR has been unlocking since Jan (around 30B correct)?

0

05.06.2022

Sinatra

Brandon
From what I understand, these past 5 months tokens...

Yes, for the past 5 months RSR tokens have gradually been "unlocked". But not really - that's the nuance of the Option 1 unlocking. In reality, each locked RSR holders could place orders to sell their RSR if they wanted to do so, but they wouldn't actually be holding the RSR tokens (instead, an OTC desk that Reserve works with is holding the tokens in custody). This is necessary to be able to apply the selling restrictions I've been talking about. If Reserve would've just send all the unlocked tokens liquidly(?), the holders could just sell them all on a market (without any restrictions on the amount that could be sold). All RSR that entered circulation since January (since 13.2b) has actually been sold, either through OTC deals or via exchanges with high liquidity (with the selling restrictions active). Tokens that weren't sold did not enter circulation (they're still in the custody of the OTC desk).

0

05.06.2022

Brandon Автор вопроса

Sinatra
Yes, for the past 5 months RSR tokens have gradual...

That makes a lot more sense, thanks

0

05.06.2022

Sinatra · Accepted Answer

The remaining RSR tokens in the Option 1 unlocking will only fully unlock in July if there would be no (or very little) selling demand. All Option 1 participants have contractually agreed to the selling restrictions that are currently active to be prolonged in the case that there would be significant selling demand in July. If that would be the case, we wouldn't want to impact the market too much, and thus prolong the restrictions until the selling demand lowers. But to answer your question, given that the original plan will continue and all remaining tokens will be unlocked in July, the current locked RSR holders will simply receive liquid RSR tokens via an Ethereum transaction. From that point on, those tokens have actually entered circulation. The holders can then decide to hold on to them for staking/governance or sell them on the market.

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So I just noticed that for the unlocking of option

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