Swapping PLENTY and WRAP for PLY
A total of 400 million PLY or 40% of the total supply is allocated for this initial migration - 32% for
PLENTYholders and 8% for
The migration is a 2-step process involving an initial exchange, followed by the vesting of tokens received. The exchange starts on 24th November 2022 with the swap rates being as follows:
1 PLENTY = 8.5 PLYand
1 WRAP = 5 PLY
50% of the PLY you receive from the exchange will be available immediately and the remaining 50% shall be vested linearly up to 23rd November 2024. The vested tokens get unlocked by the second, but claims can be made only once every 24 hours.
Of the 400 million tokens allocated for migration, 200 million tokens would be available on the day the exchange starts. The remaining 200 million tokens would keep coming into circulation up to and beyond 23rd November 2024.