Tokenomics Execution
Learn more about the changes in $NGL tokenomics.
At Entangle, our top priority is to safeguard the core values of our protocol while nurturing our dynamic community. Following thorough internal discussions and invaluable feedback from our community, we've implemented substantial changes to NGL tokenomics and token supply.
Token Burn and Lock Up
The team proposed burning 30M NGL tokens from the team allocation, demonstrating their long-term commitment to the project.
- The proposal received 100% "No With Veto" votes over a 24-hour period, resulting in the 30M deposit being burned.
- Transaction Hash: E422AF35325F909EB9321E2347AE95812E5EE33C156242C485E7EF73ED4A0830
Along with this, 25M NGL has been locked up for 1 year.
Vesting Schedule Changes
In a strategic move, Entangle has also made significant changes to the vesting schedules, by increasing the cliff and linear vesting time for multiple stakeholders.
The graph below illustrates the changes in NGL emissions following the updated lockup protocols.
To get more insights and information about NGL tokenomics and the overall distribution, check our Gitbook.
As always, we're dedicated to the long-term success of the Entangle protocol. We’re confident that these changes to NGL tokenomics and token supply will help us achieve our objective. We'll keep an eye on the ecosystem and stay flexible to protect the protocol, support our community, and foster more innovation. Thanks for being on this journey with us.