OMNIA Protocol – 15th November 2024 vesting update

2 min read

Context: OMNIA TGE was on 15th October 2024, and according to the tokenomics, on 15th November a set of unlocks were scheduled.

Transparent circulating supply tracker dashboard : https://supply.omniatech.io

OMNIA Protocol mainly use Team Finance vesting pools for its unlocks (see supply tracker above).

Due to a misleading UI in Team Finance dashboard, when we’ve setup the vesting pools and set the first monthly unlocks scheduled for 15th November, the underlying dashboard considered that as a starting date – meaning the first unlocks from these Team Finance pools will actually be on 15th December.

This means we were in the position where we could potentially not meet the unlock requirements for those subject to these vesting pools. The only exception to this were the participants in the ChainGPT Launchpad since they manage their own vesting pools (independent of our Team Finance setup).

We had to find a solution to make sure everyone is treated equally and everyone receives their unlocks as scheduled in tokenomics.

We’ve setup an emergency meeting on 15th November to identify a solution and meet our unlock requirements as laid out in the tokenomics. The solution we agreed upon was using the unsold (refunded) $OMNIA tokens from ChainGPT IDO & Private rounds to solve this, since these were enough to cover the external obligations (investors). The unsold tokens vault used for this operation was 0x7e6065A71754F5502cA9ffB8CC27cD967911Ff1d where the 15th Nov operation can be seen.

The above pool, together with the non-existent 15th Nov unlocks from Team Finance vesting pools, can be independently checked on ETH/BSC explorers, with the help of the transparent circulating supply tracker mentioned above.

Conclusion: Everyone got their unlocks as scheduled on the tokenomics, on 15th November, with no impact on other operations. Starting with 15th December, the unlocks will be done as expected, from the Team Finance vesting pools.