ConcaveFi Gitbook
Search…
bbtCNV
bbtCNV(Seed tokens) are tokens issued to seed investors. These are offered to seed investors whose goals are aligned with CNV and are in for the long term.
As the earliest adopter, seed investors get their bbtCNV at the price of $10. bbtCNV gives the holder the right to claim CNV at a 1:1 ratio over the vested period.
The total amount of bbtCNV is 619,000 tokens, reflecting 0.185% of the terminal CNV supply.
bbtCNVs are subjected to a 2 months cliff and it is vested over 12 months. The first unlock upon completion of 2-month cliff is at 2% of their bbtCNV holdings. This percentage increases until the end of 12th month when bbtCNV holders can redeem 100% of their holdings. Seed investors can only redeem their bbtCNV starting month 2 in a controlled manner.
*Note that the unredeemed bbt will NOT grow as supply grows so they will be diluted. This means that bbt is not necessarily a better deal vs. the pToken.
Copy link