Welcome to Blockchain Bank & Trust
- Create a new model of a Decentralised Blockchain Bank
- Create a Bank ERC20 Utility Token the ‘IBBT’. The token will be used by users to interact with the bank services, examples:
- Login validation/verification
- Execute deposits and withdrawals
- Offer rewards or discounts on existing and future bank services.
EQUITY DISTRIBUTION OF BLOCKCHAIN BANK
(Notice: Not Charter Bank yet…)
Instead, I would suggest a selling schedule — something that limits the velocity with which employees, founders, and large investors can liquidate tokens.
For instance, shortening the vesting schedule to two years but increasing the selling schedule to 2–4 years would mean that if it took 2 years to earn the tokens, it would take 2–4 years to sell them all off.
This reverse vesting means that the IBBT team can access some liquidity without tanking the token economy/price. This also forces employees to stick around longer and be more committed to the project and mission.
Even if it takes 2–4 years to sell off all your shares, you still have some liquidity faster than a traditional startup founder/employee. But you have to hang around and keep contributing to being able to sell it all off.
In this scenario, only employees with the REAL need of the cash can sell off tokens because they still need to work towards building value for at least 2 years before they can get all their money out.
No pump and dump, no misalignment of incentives. Instead, all of us must stick around and fight to increase the value of the token and network.