Raze Network Transparency Report #2

Razers,

July was a busy but fulfilling month for Raze Network.

July saw the project launch both our Public Testnet, and a successfully run community vote to adjust the future $RAZE token vesting schedule. We believe that in doing this, we addressed the associated investor risk of future potential selling pressure and can now continue to build the project with less background noise.

As project contributors, the core team at Raze Network collectively share a common belief: when information is shared openly and honestly, the trust, culture, and overall community improves. For this reason, we wanted to share an updated transparency report with you all to ensure we’re clear on the result of the accelerated investor/advisor token vesting.

The Raze Network Transparency Report #2 discloses the major wallet addresses holding significant amounts of $RAZE tokens, their provenances, purposes, status, and vesting schedules. In doing so, we can turn our eyes towards the future of the project: Continuing on with our Public Testnet Bug Bounty Program, ramping up our updated Raze Ambassador Program (RAP), preparing for our Public Mainnet Launch, and beyond.

Without further ado, below is our August Transparency Report data:

Purpose : Liquidity Reward

Quantity: 28,990,910

Percentage of Supply: 24.16%

Status: Vesting

Vesting: 10% for Initial Exchange Liquidity, the Rest as Rewards for Liquidity Providers

Purpose : Operational Reserve

Quantity: 13,387,500

Percentage of Supply: 11.16%

Status: Vesting

Vesting: 15% on TGE, monthly vesting for 24 months

Purpose : Vault

Quantity: 9,600,000

Percentage of Supply: 8%

Status: Locked

Vesting: 0% on TGE, Governance through voting within the community

Purpose : Team

Quantity: 12,000,000

Percentage of Supply: 10%

Status: Locked

Vesting: 0% unlocked for 9 months, then monthly vesting over 12 months

Purpose : Advisor

Quantity: 0

Percentage of Supply: 0%

Status: Unlocked

Vesting: All tokens unlocked with community-voted new vesting schedule

Purpose : Token Sale

Quantity: 0

Percentage of Supply: 0%

Status: Unocked

Vesting: All tokens unlocked with community-voted new vesting schedule

Purpose : Token Burn

Quantity: 1,309,090

Percentage of Supply: 1.09%

Status: Locked

Max Supply: 120,000,000
Circulating Supply: 56,021,590
Percentage Circulating: 46.68%

The unlocked tokens are currently managed by our team treasury and are the foundation for airdrops, staking rewards, and liquidity providing. After a successful Public Mainnet Launch, Raze Network will then aim to become DAO governed, giving Network control to the Razer community and $RAZE token holders.

On a final note, we wanted to inform you all that one of our founding team members, Justin Kellison, is no longer working with the Raze Network core team due to personal reasons. Justin was an integral contributor in the early stages of the project, and was a huge part in our successful triple-IDO and TGE event earlier in 2021. Justin will cheer us on from the sidelines as a proud Raze Network alumni, and we wish him all the best with his future endeavours.

Stay tuned for a forthcoming update on an exciting contributor addition to the Raze Network core team, and as always thank you for your unwavering support! #untRAZEable

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Raze Network

Raze is a trustless zero-knowledge proof system designed specifically for decentralized finance.