ParaState is pleased to announce the release of our 2nd tranche of STATE tokens for investors in the Republic round and private round, as set out in the linear vesting unlock schedule.
According to the different lockup terms indicated on Republic on January 12, 2022, a total of 16,648,432.26 STATE tokens will be available to claim by all our investors who participated in the public round on Republic.
This 2nd tranche of the STATE token lockup (90-day lockup terms) is ready to be claimed on the expiration date, at 00:00 UTC, May 2nd.
With this second batch, 80% of the STATE tokens sold by our investors who participated in our public offering on Republic in January of this year will be unlocked.
It is important to note that the release of the 3rd tranche of the STATE token lockup (180-day lockup terms) for the Republic public round of investors is scheduled for next August 2, 2022 at UTC 00:00.
In addition, according to our tokenomics, from May 2, 2022 (00:00 UTC), the linear unlocking of the private round scheduled for the next 12 continuous months begins, with a total of 55,400,000 STATE tokens to be unlocked.
Simultaneously, the linear unlocking of the strategic and seed round scheduled for the next 15 and 18 continuous months begins, with a total of 213,400,000 STATE tokens to be unlocked.
That is, 26.88% of all tokens as stipulated in our Tokenomics Paper.
Investors who participated in this round will have their STATE tokens tied to a linear vesting per block schedule in their non-custodial wallets.
Remember that all eligible investors need to use the MetaMask ERC20 wallet address submitted in the Republic platform and Private Round to claim the tokens via a portal on the ParaState official website at the distribution time:
Remember that you should preferably use the Chrome Metamask extension to be able to access the claim portal from your Chrome or Brave browser (depending on your preference) to connect your account to the claim portal.
Similarly, all users must previously have added the STATE token to Metamask to see their STATE token balance reflected on Metamask once they click on “Unlock Your Tokens” on the claim portal.
ParaState is a multi-chain smart contract platform that provides full compatibility between Ethereum, Polkadot and other Substrate-based chains, as well as other chains wanting to provide Ethereum compatibility through its next-gen runtime infra EWASM.
Parastate is participating in ETH2.0 Staking with a new tech stack called SafeStake, a trust-minimized, middle-layer fostering the decentralization of ETH2.0 staking. SafeStake is a non-custodial infrastructure for distributed validator technology written in Rust, implementing HotStuff consensus and Threshold signing architecture to provide more robust security for ETH 2.0 staking.