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Tigris Protocol — CLAY Token Sale and Lockdrop Summary

TTC | 10.22| 225

Tigris Protocol — CLAY Token Sale and Lockdrop Summary

A brief recap on the CLAY’s TGE and what’s next.

As of October 19th 2019, the token sale and lockdrop for CLAY, Tigris Protocol’s native token, have successfully concluded. We sincerely thank all who participated in the CLAY token public sale and lockdrop.

Here is a brief recap on the results of the token sale and lockdrop and what happens next.

Token Sale and Lockdrop Recap

The CLAY tokens were generated based on the participation level of users through both the CLAY token sale and lockdrop. Here are the results:

  • Private sale
    - Price: 1 TTC = 20 CLAY (No Lockup. No discount.)
    - Result: 200,000,000 CLAY issued
  • Public Sale
    - Price: 1 TTC = 20 CLAY (No Lockup. No discount.)
    - Result: 200,000,000 CLAY issued
  • 12 Months Lockdrop
    - Rate: 1 TTC = 10 CLAY
    - Result: 200,000,000 CLAY issued
  • 6 Months Lockdrop
    - Rate: 1 TTC = 4 CLAY
    - Result: 66,459,067.73 CLAY issued

What’s Next?

The total number of CLAY tokens issued by the TGE is 666,459,068 CLAY tokens. There are unissued 333,540,932 CLAY tokens — the difference between the number of total issued tokens and the initially planned hard cap (1,000,000,000 CLAY) — and here is what we will do with those unissued tokens.

  • 250,000,000 CLAY tokens will be burned 🔥🔥🔥
  • 83,540,932 CLAY tokens will be allocated to the Tigris Reserve, enforcing the stability of the Collateralized Debt Service (“CDS”) and its maximum loan capacity.

After the burn and re-allocation of CLAY tokens to Tigris Reserve, the CLAY token allocation will be as follows:

  • TGE: 666,459,068 CLAY
  • Tigris Reserve: 1,083,540,932 CLAY
  • Foundation: 250,000,000 CLAY
  • Ecosystem Building: 250,000,000 CLAY

Total supply: 2,250,000,000 CLAY

As Tigris Protocol Beta-1 is being optimized, Tigris Protocol will soon launch the Beta-2 with CDS. Once released, users may collateralize their TTC for fiat-pegged stable coins and utilize their assets in various ways.

If you would like to learn more about Tigris Protocol, check out our Telegram Group.

Thank you,

TTC Foundation | Tigris Protocol

About Tigris Protocol
Tigris Protocol is an open, trusted and interoperable Decentralized Financial (DeFi) service built on the TTC Blockchain Platform. It provides effortless crypto loans, stable daily rewards, and paramount security. For details, visit our website.To receive the latest news on TTC, join our Telegram and follow us on twitter.
About TTC
TTC is a blockchain fit for mass adoption and a sustainable token economy model. For details, visit our website.To receive the latest news on TTC, join our Telegram and follow us on twitter.

Tigris Protocol — CLAY Token Sale and Lockdrop Summary was originally published in TTC — Official Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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