Greetings from ENTC,
The ENTERBUTTON (ENTC) project has been proceeding with token distribution following the reward & burn and team wallet unlock since April 1, 2024.
As previously notified, sequential distribution is underway, but we would like to provide additional detailed information based on community feedback regarding monthly and periodical token unlock and more detailed information.
[Detailed Additional Guidance – Information Provision Channels]
All project progress and circulation-related information is provided on the official website, entc.world, and disclosure platforms, aggregators, social networks, etc., serve as additional means to deliver relevant information to more users. Over the approximately 4 years of the project, various platform services have been utilized. However, we are strengthening our own channels due to circumstances such as sudden discontinuation or changes in services by service providers, which could hinder stable data and information dissemination.
[Detailed Additional Guidance – Reward & Burn Wallet]
The initial allocation of tokens to this wallet is 500,000,000 ENTC. Of this, 90,000,000 ENTC has been burned so far, and an additional 10,000,000 ENTC will be burned by June 1, 2024, resulting in a final total supply of 400,000,000 ENTC. The remaining 400,000,000 ENTC will be supplied according to the following schedule and method planned since token issuance:
April 2024: 150,000,000 ENTC May 2024: 150,000,000 ENTC June 2024: 100,000,000 ENTC
All tokens in this wallet are used and distributed for user rewards, events, community pools, and the foundation does not take any profit. Currently, 60,000,000 ENTC has been supplied through event rewards, etc., and sequential reward distribution is underway to minimize volatility when supplying the total unlock quantity mentioned above. The same rules will be applied to tokens unlocked in May and June, and we will ensure that all rewards are distributed to users who have supported and participated in the project.
[Detailed Additional Guidance – Team Wallet]
The allocation to this wallet is 100,000,000 ENTC. As previously stated, tokens distributed from this wallet are freely transferable and sellable as compensation for the project's operating team, and they will be supplied according to the following schedule and method:
April 2024: 50,000,000 ENTC May 2024: 50,000,000 ENTC
The tokens in this wallet are being distributed evenly over a maximum of 60 days, but to prevent moral hazards within the foundation and to uphold the belief that the project team should receive lower rewards than users, not a single token has been sold or supplied to the market as of the current date, and we encourage a healthy mindset within the team.
All tokens from this wallet are prioritized to be supplied or sold only after the completion of the scheduled distribution of the reward & burn wallet to users, and the team voluntarily pledges to uphold beliefs in fair and just compensation.
For example, until the entire quantity of April unlock tokens from the reward & burn wallet is distributed, personal sales of April unlock tokens from the team wallet are discouraged.
Additionally, the team will ensure to receive minimal compensation as stated above and advocate for trades that adhere to world market trading prices or within reasonable bounds.
[Detailed Additional Guidance – Reserve Wallet]
The allocation to this wallet is 300,000,000 ENTC, and all tokens will be distributed to users similar to the reward & burn wallet's purpose. Although the original unlock schedule has passed, we plan to set a period after observing the depletion of tokens from the reward & burn wallet and announce its usage in advance.
[Detailed Additional Guidance – Distribution Sales Wallet] The allocation to this wallet is 100,000,000 ENTC, with 3,000,000 ENTC burned, leaving a total of 97,000,000 ENTC. Of this, 67,000,000 ENTC has been supplied, and 1,000,000 ENTC from the supplied tokens has been indefinitely locked up, excluding it from circulation. Monthly supplies of 5,000,000 ENTC are planned until October 2024, after which distribution will cease.
[Closing Remarks]
For the project to expand globally and establish a sustainable ecosystem, it must be built on the support and adoption of users worldwide.
While the current unlock plan may seem substantial to users, it has been planned since issuance, and not executing the planned token distribution due to fear of volatility carries the risk of exposing the project to long-term abnormal trading and market manipulation.
We strive to maintain fair and transparent distribution principles to swiftly alleviate the overhang risks with which all projects start and to promote the true decentralized nature of the project.
As the distribution of issued tokens approaches 100% among various users, liquidity manipulation and risk factors decrease.
We deeply request your understanding and attention to the volatility of trading prices, as the foundation can only provide advance warnings but cannot intervene, and we seek your empathy towards the macro direction of the project.
While the foundation may sometimes be inexperienced in project execution, we will strive for continuous improvement to garner maximum empathy and will never betray user trust for the foundation's benefit.
The foundation is often subjected to much slander and misinformation than users may think.
Market or external forces often spread false information to sell or exploit the foundation for their gain, and threats and coercion are not uncommon.
However, with unwavering conviction, we proceed with the project, disclose all information to users, and even now, our project's value is rising.
As virtual assets further integrate into our framework and navigate through this pivotal moment, we will continue to make the fundamental project of the Republic of Korea without a paper company, as always.
We sincerely ask for your continued interest and support in the journey of ENTERBUTTON.
Thank you.