Flasko's 3-year lock on team token and a look at Tekenomics
Flasko's 3-year lock on team token and a look at Tekenomics
token lock or blocking period is of crucial importance when investing in decentralized finances (defi). The concept refers to a specified period in which a token of a cryptocurrency project cannot be sold or traded.
Many investors have become more massive sales because early token owners and project teams decided to liquidate their position as soon as the crypto asset has been traded on the free market.
In a similar way, Defi users have been cheated by fraudulent project developers who create worthless tokens, create funds from investors and quickly remove all assets from the liquidity pool, which makes it impossible to sell the tokens.To ensure that investors are well protected, many defi projects have introduced blocking periods as a security strategy to prevent early owners and project developers from selling their tokens or removing liquidity until the token duration has expired.
As one of the latest projects in the industry, Flasko introduced a blocking period for the tokens of his team, with plans to block liquidity for over three decades to protect investors from carpet train. But before we immerse yourself in the details of the team's token lock and the project, let's take a quick look at what Flasko is trying to achieve.
What is flasko and how does it work?
flasko is a blockchain-based platform that tries to close the gap between alternative investments and the crypto world.
The platform enables small investors through non-fungible tokens (NFTS) easy access to the premium beverage market. In other words, with flasko, users can invest in exclusive and luxurious whiskeys, wines and champagne by trading with NFTs.
Investors can buy a fraction or entire NFTS, and those who buy 100 % of the NFT receive the assigned whiskey, wine or champagne free of charge to their address.
flasko also has a three-stage VIP club-the whiskey club, the wine club and the champagne club. Each level offers unique advantages that are available to a limited number of members.
flasko tokenomics
How many crypto projects has flasko a utility token called FLSK. The crypto asset drives the activities of the flasko ecosystem, including governance.
FLSK has an overall range of 1 billion tokens. Here is the breakdown of the token allocations of flasko.
- Advance sales: 35%
- Marketing: 17.5 %
- wallet of the development team: 14 %
- Key activity: 1%
- listing: 12.5 %
- partnerships: 5%
- Community investments of the protocol: 15 %
The project also introduces a tax system in which users who buy and sell token have to pay taxes for each transaction. When buying the FLSK, there are 7 % taxes, while 14 % are incurred when selling the assets. The income from taxes is divided between marketing, liquidity pool and burn.
Flaskos 3-year lock on team token
The Flasko development team receives 140 million PLSK (14 % of the token supply). However, the team will not be able to sell the tokens or do business with them by 2025. This is because the tokens have been blocked for three years. The step will make sure that the project's team does not suddenly throw its tokens on small investors before the time.
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