(March 2, 2022) After reviewing the outcome of the pilot for the distribution of last month's unlock on a daily basis through My

02 Mar 2022, 18:03

(March 2, 2022) After reviewing the outcome of the pilot for the distribution of last month’s unlock on a daily basis through MyCointainer, we’re opting to extend the program for an additional month. The official communication below contains information about the composition of Beyond Protocol's staking program and future initiatives. Dear Token Holder, After reviewing the outcome of the pilot for the distribution of last month’s unlock on a daily basis through MyCointainer, we’re opting to extend the program for an additional month. Of the approximate 300 token holders due unlocks, only roughly 10 percent sought to opt out, many of whom did so due to disadvantageous local tax treatment of staking programs. Through February 15th, there were only approximately 150 total withdrawals from MyCointainer for $BP – single parties were frequently associated with multiple transactions – and the total tokens withdrawn represented less than 10 percent of the total allocated to parties due unlocks through this period. During the first week or so of the pilot, we observed issues with the timing and quantity of tokens distributed; these have been resolved, and the concluding weeks of the pilot have been smooth. Should you like to change your distribution preferences for this month, please fill out this form no later than 5pm EST on March 4 (redacted). Over the past month, we continue to make progress against our roadmap. We released additional information related to BPEV’s vision (https://docsend.com/view/negehhsn9rz9t3zi) and its technological architecture (https://docsend.com/view/tfnwd4b8pkykv57t), a venture we are doubling down on based on business development traction. We also released information about our vision for mainnet (https://beyondprotocol.medium.com/beyond-protocols-secret-sauce-5998475821da) The MyCointainer data referenced above shows that the vast majority of Beyond Protocol token holders continue to hold and stake. Over the past month, we observed that the small number of token holders opting to liquidate caused outsized pressure in the open market, a similar dynamic we observed following the January 4th unlock. In the short term, we continue to work to add additional liquidity for $BP in the open market to support normative market development, including listing on tier 1 exchanges with the support of our institutional partners and underwriters. Thank you for your continued support of the development of our technology and community. All my best, Jonathan