Updated CARDS Vesting; A Letter From Our CEO
Upon the inception of CardStarter, which feels like ages ago now, I distinctly recall making the decision that we would put the community first. After all, I started my own journey in the same position most of you are in: eager and driven for financial success. Through my experiences, I’ve come to understand that the real power behind a project is not the product, it is the community.
I, too, remember sitting in Telegram channels waiting patiently for the developers to whisper even the faintest hint or clue as to what would happen next. Was it bullish? Was it bearish? We never knew.
In my day, a transparent team was rare, and it seemed that there was always something happening behind the scenes — a flurry of executive decisions, ultimately defining the future of the community without us even knowing about it. It truly feels like the last 10 years have produced every imaginable scenario, from pumps, dumps, and even Donald Trumps — Alas, I digress.
You’re probably wondering why I’m writing about the past, and, well, I’m doing so because the past is precisely what has defined the future;
Those experiences have molded me into who I am now, and who I hope to continue to be: honest, transparent, and willing to stand by the community.
This bring us to the article’s headline: Updated CARDS Vesting
As many of you know, either April 30th or May 1st will be the first and last major vesting unlock. What does that mean? Well, beginning June 1st, we will employ a Linear Daily Unlock Schedule through August 1st. Our Advisory Board has advised that major monthly unlocks will only increase the volatility of our ecosystem, and ultimately hamper the growth of CardStarter. It should be known that we have debated doing a linear daily unlock from the beginning, however, there are two issues with this concept:
- This runs counter to the terms agreed upon by the initial ~300 members of the community. By allowing the first unlock to take place, we stay true to our initial vesting schedule (as many users are hoping to add to their Tiered rankings).
- Employing a linear unlock schedule from day 1 would not allow for CardStarter to properly mature to the degree that it has currently realized.
Many members of the CardStarter community (~3000) have expressed their concerns that the current spot value has created a barrier for entry, whereas the early community members hold a disproportionate number of CARDS tokens. Therefore, a single and final major vesting unlock will allow bigger opportunities for newer members of the community, while ensuring timely token release for the earlier users. I want to emphasize that with the updated release schedule, total time vested is not changed, only the frequency in which it is received. Ultimately, this adjustment will prove beneficial to the CardStarter ecosystem by providing greater growth and furthering opportunities within the community.
The CardStarter team is working diligently forming partnerships with other projects, incubating numerous bluechips, exploring Centralized Exchange listings, and approaching the reveal of our newest CAP lineup. We are confident with our current success combined with the influx of new users, we will reach the second phase in CARDS adoption. We are also excited to have CardSwap launch in August, pending the Alonzo Hardfork; users can begin to earn CSWAP tokens within the week. The calendar is chock-full, but I think that’s all I’m allowed to reveal for now :)