Xai Team Will Reduce Total of XAI Token Unlocks in July!

Bittime - Layer 3 gaming project Xai announced it will reduce the number of tokens it will unlock in July. The Xai team has agreed to relock their tokens for 6 months, which should be unlocked in July.  

Unlock XAI Token in July

With the changes, the number of Xai team tokens unlocked will decrease from around 85 million to around 17.7 million. 

According to the official announcement from the Xai team, a total of around 107.9 million tokens will be unlocked in July. The distribution of XAI token unlocks in July is as follows. 

• Investors: About 72.3 million
• Team: About 17.7 million
• Consultant: About 4.2 million
• DAC: About 5.2 million
• Xai Foundation: About 8.5 million

This total number of tokens to be unlocked will increase the circulating supply of XAI tokens by approximately 36%, which is equivalent to approximately 26% of the total new circulating supply. 

Currently, XAI's circulating supply is around 300 million tokens, and with the addition of around 107.9 million tokens, the total circulating supply will increase significantly.

Clarification Regarding False Reports

The Xai team emphasized that the many reports circulating about the opening of XAI tokens reaching 79% were not true. Precisely the Xai team has taken proactive steps to relock most of the tokens that were supposed to unlock in July.

It is worth noting that the total supply of XAI is currently 1,473,270,834 tokens. Besides that, esXAI does not count towards circulating supply because it cannot be moved. This is important for the community and investors to understand so that there is no confusion regarding the actual amount of circulating supply.

The Token Unlock Process is Not Done All at Once

One important thing to note is that the unlocking of tokens from each allocation is done daily, not monthly. This means there is not a single day where a large number of tokens will be unlocked at once. This process is implemented not only in July, helping to maintain market stability and prevent significant price fluctuations.

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