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Update: Total Supply and Distribution schedule of MovieBloc (MBL)

MovieBloc | 08.11| 119

Hello MovieBloc Community,

We’ll provide you with more details on the community’s recent questions about Token Supply as well as future plans for the MovieBloc team.

In order to transparently disclose the operation process of the project to the community, MovieBloc has organized the token matrix along with the unlock plan that was guided when preparing for the first listing on the Gate.io exchange in May 2019 and the actual unlocked amount:

0. Outline

We have continuously shared and requested current supply of MovieBloc to CMC; however, please note that the CMC uses its own calculation method to show the token Supply.

1. MBL Foundation (10%)

Planned: 6-months lockup, 24-month vesting (125 million monthly, 1.25 billion unlock by current standard)
Actual: Unlock after 12 months, average 70 million MBL/ month unlocked for 4 months
Difference: Doubled unlock period, 1/5 of existing plan unlocked until now

2. MBL Private Investment (3%)

Planned: 3-month lockup, 12-month vesting
Updated: 6-month lockup, 12-month vesting (2019 Disclosure)
Actual: Last 3 months of Supply approximately 322 million MBL buy back completed, at least 1 year lockup

3. Ontology Foundation (10%)

Planned: 3-month lockup, 12-month vesting
Updated: 6-month lockup, 18-Months vesting
Currently vesting in progress (completed in January 2021)

3. Air Drop (11%)

Planned: NO LOCK UP — according to events.
Actual: 7.7% of 11% are currently remaining

4. MBL Team (15%)

Planned: 12-month lockup, 24-month vesting (unlock 0.625% per month, completed in December 2021)
Actual: Approximately 0.41% unlock per month. *The actual amount varies slightly depending on the current price of MBL as of the payment date.
Difference: About 2/3 of the plans announced during the IEO is being unlcoked and rest will be used for the team operations in the longer term.

5. MBL Ecosystem (43%)

Planned: 3% unlocked initially. The rest has 6-month lockup, 24-month vesting (500 million unlock monthly, 5 billion unlock by current standard)
Actual: Approximately 1.715 billion unlocked over 10 months = 171.5 million monthly
Difference: Less than 1/3 of the existing plan is in progress.

Notice the major differences:

MBL Foundation- 965 M less unlocked by August 2020
MBL Private Investment- Approx. 322 M less unlocked by August 2020
MBL Team- Approx. 273 M less unlocked by August 2020
MBL Ecosystem- Approx. 3.4 B MBL less unlocked by August 2020
In total, 4,960,000,000 less MBL tokens are unlocked by August 2020 compared to our original plan.

Considering the difference between the actual amount and planned amount of unlocked MBL token, we will consider adjusting (extending) our vesting terms by end of this year.

Upbit Disclosure: https://assets.ctfassets.net/nbz02hpjrwl3/5P0pcgjKE70A1BDEgI9gRX/9db7d2306555d8f3efaeaca3280273ce/456_MBL_01.pdf

Thank you.
MovieBloc

MovieBloc.com | Telegram | KakaoTwitter


Update: Total Supply and Distribution schedule of MovieBloc (MBL) was originally published in MovieBloc on Medium, where people are continuing the conversation by highlighting and responding to this story.

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