According to official news, the Ondo Foundation, an organization related to the RWA protocol Ondo Finance, announced a proposal to “unlock ONDO tokens”.
According to ONDO token economics, its total amount is 10 billion, and the distribution plan is as follows:
- Sales to the community: 198,884,411 (~2.0%);
- Ecosystem growth: 5,210,869,545 (~52.1%);
- Protocol development: 3,300,000 (33.0%);
- Private Placement: 1,290,246,044 (~12.9%).
The proposal describes an unlocking schedule tied to a determined date when the tokens are first transferable (the “Public Launch”). The Ondo Foundation will be responsible for selecting an exact public launch date and is expected to select a public launch date before March 31, 2024, otherwise additional approvals from Ondo holders will be required.
The Ondo Foundation was established in 2022 as an independently managed, not-for-profit Cayman Islands foundation company. The foundation acquired ONDO token issuance rights from Ondo Finance. In mid-2022, the Ondo Foundation, through its subsidiaries, was selling ONDO tokens to more than 18,000 individuals through CoinList.