Shiba Inu Team Explains Why KNINE Presale Investors Have Not Received Their Tokens

Lucie, the Shiba Inu marketing lead, has taken to X (formerly Twitter) to explain why KNINE presale investors have not received their tokens.

The content specialist provided an educational piece regarding token vesting and cliff with respect to K9 Finance DAO’s official native token, KNINE.

KNINE Presale

For context, some crypto investors who participated in the KNINE presale earlier this year have complained that they have yet to receive their tokens despite the presale tokens selling out on January 31, 2024, as disclosed by K9 Finance founder Buzz.

The K9 team allocated 76.02 billion KNINE (7.6% of the total supply) for the presale, with each token priced at $0.000009.

Following the presale, the K9 team officially launched KNINE on March 7. Some investors who participated in the presale and hoped to receive their tokens were disappointed, prompting widespread outbursts across social media platforms.

Lucie Weighs In

To address the complaints, Lucie explained why KNINE presale investors have yet to receive their tokens. She said a cliff and vesting period were attached as conditions of the KNINE presale.

Let’s chat about presale tokens.
For example @K9finance had presale in January-February

You bought some but still haven’t received them, even though the token has launched?!

That’s probably because you bought it with a cliff and vesting period!

What and why, you ask?… pic.twitter.com/iyiXPeN0Ii

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) March 14, 2024

She explained that a cliff represents a period when no tokens are awarded to investors who participated in the presale. After the cliff time ends, the vesting period automatically begins. In the vesting period, tokens are distributed to presale investors based on a predetermined timeframe.

For instance, a token with a six-month cliff period will be distributed after the sixth month and locked for vesting, depending on the duration imposed by its developers.

According to Lucie, the motives behind imposing a cliff and vesting period for presale tokens are to foster long-term commitment and reduce the dangers of potential dumping. The cliff and vesting initiative also serves as a tool to align the incentives of all parties.

KNINE Vesting and Cliff Period

In particular, Lucie stated that KNINE has a cliff time of 30 days and another 30-day vesting period. Notably, the first claim of the KNINE presale tokens will occur 30 days after the vesting period.

Data from CryptoRank shows that only 8.6% of KNINE, representing 86 billion tokens of the total supply, have been unlocked so far. The next unlock is slated to occur on April 7, exactly one month after the token launched on Uniswap.

Specifically, 19.38 billion KNINE tokens (1.94% of the supply) will be unlocked by April 7, according to the data. At the time of writing, KNINE was changing hands at $0.000201, up 2,133% from its presale price of $0.000009.

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