To promote the healthy development of BitZ Token (BZ) ecology, agreed by stakeholders, it’s decided that the following adjustments will be made to BZ token mechanism:
The 120 million BZ held by the original early cofounder mutual fund, which accounts for 10% of all BitZ Token (BZ) issued, was used for the incentive of early investors and founding team and has not been unlocked so far. The original early cofounder mutual fund will destroy of 70 million BitZ Token. After the destroy, the original early cofounder mutual fund will hold 50 million BZ in total, among which the early investors hold 5.75 million BZ and the founding team holds 44.25 million BZ.
According to the allocation scheme and disposal plan, the BitZ Token held by early investors will be unlocked in two years. The first time to unlock is on July 8th, 2019, and the unlocking amount will be 2.875 million BZ. And the BitZ Token held by founding team will be unlocked within 4 years since January 2020.
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July 5, 2019