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[FEATURE] Edit presale investor vesting schedules #180

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dokwon opened this issue Jun 19, 2019 · 1 comment
Closed

[FEATURE] Edit presale investor vesting schedules #180

dokwon opened this issue Jun 19, 2019 · 1 comment
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enhancement New feature or request

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@dokwon
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dokwon commented Jun 19, 2019

Problem definition

Currently, vesting cliffs for pre-sale investors operate via a "cliff", meaning that in certain points in time a large number of tokens unlock, leading to nontrivial market uncertainty.

Feature specification

We will spread out the cliffs for presale investors, with varying degrees of severity

There are largely four groups of investors:

  1. Preseed investors (lockups 10% TGE +1, 10% TGE+2, 10% TGE+3, 70% TGE+12)
  2. Seed investors (lockups 10% TGE +1, 10% TGE+2, 10% TGE+3, 70% TGE+10)
  3. Seed investors (lockups 100% TGE+18)
  4. Private investors (lockups 16% TGE+4, 16% TGE+5, 16% TGE+6, 16% TGE+7, 16% TGE+8, 16% TGE+9)

We want to ease the vesting cliffs in the following manner:

  1. For pre-seed investors in the following set:
terra1p54hc4yy2ajg67j645dn73w3378j6k05v52cnk
terra1weyggr6rnggy7vdnp79pxr7vskndegcnswh8gl
terra1jd2yth3zl2vez34q4m0wxngaazwy0e8csxuucd
terra1upg95nlwkfkrq4hhjrn3k9s6ud0aqx36gwnlsn
terra1f2z4q5kdelhfk7xq3xmxzlhp6ntrtzu659pl0s

Follow Pre-seed vesting for schedule edits

  1. For remaining pre-seed investors (vesting type i-1)
    For vesting amount, have the tokens vest linearly by block over 1 month instead of at the beginning of the month.

  2. For seed investors in the following set:

terra1m8lvnh4zju4zcjh34rjhyyuyjk4m79536jf2tm
terra1y9n2ywyu5dahtxar6k4z4jz97ynt8km4catuk6
terra13cvpljjkm2huadv38dfx8jyucfda0cs6jp3sku
terra1kgj2zc0qxltr5vsgycmxp7x337q5s9lvxlh694
terra1zjkr4t3dglt8mzykhtvrq5wltapstlmpdly87u
terra1y4umfuqfg76t8mfcff6zzx7elvy93jtp4xcdvw

Follow Seed vesting for schedule edits

Spread out 30% of all tokens (not vesting tokens) between TGE+2 ~ TGE+9 linearly per block,
and spread out remaining 60% vesting over TGE+10 ~ TGE+12 linearly per block.

  1. For remaining pre-seed investors (vesting type i-2)
    For vesting amount, have the tokens vest linearly by block over 1 month instead of at the beginning of the month.

  2. 18 month lockup seed investors (vesting type i-3)
    Unlock the tokens block linear over 30 days instead of all in 1 day

  3. Private sale investors (vesting type i-4)
    Have tokens vest block linear from TGE+4 ~ TGE+9 instead of at cliff points

Suggested implementation

The current GradedVestingAccount type should be changed to take in a list of:

[ 
... 
   {
      start_time:  // start time of vesting  
      end_time:   // end time of vesting
      tokens: // number of tokens to vest
   },
...
]

Sanity check

  • And the existing linearVestingAccount implementation should be used to have the specified number of tokens vest from start to end time in a blockly period.
  • Maintaining the invariant that the sum of the vesting tokens should equal the previous number of tokens
  • No GradedVestingAccount implementations should be left remaining in the changed account set.
@dokwon dokwon added the enhancement New feature or request label Jun 19, 2019
@dokwon dokwon changed the title [BUG] Edit presale investor vesting schedules [FEATURE] Edit presale investor vesting schedules Jun 19, 2019
@dokwon
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dokwon commented Jun 21, 2019

Closed by #183

@dokwon dokwon closed this as completed Jun 21, 2019
@yun-yeo yun-yeo mentioned this issue Jun 21, 2019
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