Deployer address token lock

As you can see, our deployer address is holding 7.7m POSI which represents 70.0621% of the circulating supply. Note that the max supply is 100m.

We’re planning to move the vast majority of the tokens (6.7m POSI) from the deployer address to a Governor + Timelock contract. The remaining tokens (1m POSI) will be transferred to the migrating smart contract. The new contract will be named Company Reserve Fund in which the tokens will be locked and will implement a voting function.

Whenever the project needs development funds. We will submit a proposal and let POSI holders vote for it (note that POSI voters will earn a fee for voting). POSI holders’ votes will count proportionally to their amount of POSI. The more POSI you have, the more your vote counts. Once the proposal passes, the amount will be locked for 24 hours to execute the withdrawal.

However, since we have implemented RFI technology which allows 1% on every transfer transaction to be shared among POSI holders. There will be an amount of 77,000 POSI (which is equivalent to more than $78,000 at the current rate) distributed to holders. The more POSI you hold the higher your share of the 1% would be!

The transfer is scheduled for Sunday evening UTC time.

The voting procedure will be followed for all decisions and upcoming changes. Position Exchange is a project that was created to achieve a specific and clear vision, which is to be the most decentralized and community-driven protocol in the Defi Industry. This is a project that will be 100% led and governed by the community. The team and devs are only here to ensure a smooth launch before transferring 100% of the governance to POSI holders.