On November 14th, 2018 the Vault Guardian Token (VGT) was deployed on the Ethereum Mainnet. Here is a summary of the deployment process and key concepts.
- VGT Contract
0xCc394f10545AeEf24483d2347B32A34a44F20E6F: this is the main contract defining the ERC20 VGT token. - Vesting Contract
0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672: this contract governs vesting over time of tokens locked for early investors, company advisors, and the yearly refill of the advisory pool. - Vault12 Locked Tokens Contract
0xd698dC82f4Cd43097009E5DDC4e0ADC1E43875a3: a contract that governs 25 years of token vesting to be incrementally issued into Vault12 ownership.
Direct investors participated in funding rounds without timing conditions. They received their tokens directly in the following transactions, totaling 183,322,140 tokens. Investors paid between 143.1962µETH - 480.9958µETH or between $0.085 - $0.1 USD per token in this group.
- 0xe035aedd6f30cfa10550f628c658e71d78fa34e2c25e08b1e870746a8ac181ac
- 0x5952a38e27e4af60b1d73f76d9d1809691375a41b9b9d5a0638f800fca0832ef
- 0x6631d355285f7bc7ffed4b1f8b538ea400e0946faca4bd45032c69aad15491c2
- 0x5c3f2bf286b77bd9e74eecf5532591f705f598677d2ed5f58b20c5bb927d1e88
- 0x19651f52d82ee9d9b161c402814ae93c49fb316f6730116547079827ed06b2fe
- 0x8bbbd9ef5b5b44a603b8fa688c2601abdc849cbeedefe7b625e76eccee53dae8
- 0x8e880647d688b349ca815b894df7ac18129cb77866169877f0ddd95c5c2d06d8
- 0x75ad26fdadca57f9245a8fa06a5d1599872616cad36584aa51e68246721696c1
- 0x7f74ba14b18f6027b54f17e09723b4d4ee04dbde2ba063881e9067a178cda462
- 0x5318199eb55e1b6db32361fc6cecd04e4b96db15ce43d8e8020127922d1b76ac
- 0xec3879324855a231ce1678dfb892f1ce903ed7cae74cafa50cc284c5649e239b
- 0x6afef4400dc06dd809b123b1599f29669e87a0dc8ee3c28e8e424fd91fa235ca
- 0xc3e5d116a943be068b22efe5e2651e5a90abd70d6461aeab186eddef056c2b01
- 0x7b22f80ff72cd076ddcbe2c8ea5ef4c42d2db8018228bd2132adeb79a7357599
Investors who participated in our earliest round received the best price per token. These investors had to accept a one year lock on their tokens as a condition of participation. This one year hold is implemented via the vesting contract 0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672 in the following transactions. The total of 13,742,854 tokens will remain locked until May 15, 2019. Investors paid between 97.2188µETH - 119.1602µETH or 8.0267µBTC or $0.07 USD per tokens.
- 0x13465995fd7053ecc55fc9b7875d01e92e75f4595424ebafce0562e08fb89007
- 0x19c26bf69388b687138898b903e7eb1829c85c01bf292e5b12f769c3d74ad52b
- 0x423b0379aa99ea9ba03526ec1a9eed1308ea85d854781817a860186a451fd6ec
- 0x16ef3205a2363d92115935086c6eea55cfa1c191ac2904b98a8e0bfc48e16902
- 0xfd90da85e72385ead08cc6cd26c5598063c1f8ef209151abdd12a969755a9748
- 0x0f4fe6c734a7ff8a3d81bdedef7b6db7a9b197cdbc586aacfba3871a1dd9b052
- 0x462145f755638ec62c40e4e790b2f83ff426c4277d3772662d42cf3c0ef0a5ad
The contract at https://etherscan.io/address/0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672#code uses the calculateGrantClaim function to determine the number of tokens a recipient can claim at the current date based on their grant start date, total amount and vesting cliff. One year lock ups are implemented as 365 day grants with a 364 day cliff.
function calculateGrantClaim(uint256 _grantId) public view returns (uint256, uint256) {
Grant storage tokenGrant = tokenGrants[_grantId];
// For grants created with a future start date, that hasn't been reached, return 0, 0
if (currentTime() < tokenGrant.startTime) {
return (0, 0);
}
// Check cliff was reached
uint elapsedTime = currentTime().sub(tokenGrant.startTime);
uint elapsedDays = elapsedTime.div(SECONDS_PER_DAY);
if (elapsedDays < tokenGrant.vestingCliff) {
return (elapsedDays, 0);
}
// If over vesting duration, all tokens vested
if (elapsedDays >= tokenGrant.vestingDuration) {
uint256 remainingGrant = tokenGrant.amount.sub(tokenGrant.totalClaimed);
return (tokenGrant.vestingDuration, remainingGrant);
} else {
uint256 daysVested = elapsedDays.sub(tokenGrant.daysClaimed);
uint256 amountVestedPerDay = tokenGrant.amount.div(uint256(tokenGrant.vestingDuration));
uint256 amountVested = uint256(daysVested.mul(amountVestedPerDay));
return (daysVested, amountVested);
}
}
A few locked investors did not provide their funding address in by our TGE deadline, and therefore their 5,197,643 will remain in a staging address. Once those investors provide us with their final addresses, these tokens will be sent to the vesting contract 0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672 and allocated to their locked investor addresses.
The advisors and community rewards pool is located at 0x77AE3FDD2F9feA1B4f32034a6250CbeDE57396ab. Each year 20MM tokens are unlocked to be allocated to new Vault12 advisors and community grants. 15MM tokens from the first year's budget are allocated in various advisory grants at 0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672 and the last 2MM will be granted from the advisory pool shortly, bringing the remainder of 0x77AE3FDD2F9feA1B4f32034a6250CbeDE57396ab account to 5MM tokens, which is the reminder of advisory/community balance for the 2018-2019 first year of operations.
The rewards pool yearly refill is implemented via 4 yearly vesting grants that last one year from their start date, and grant the balance of tokens on the last day in the following transactions:
- 20MM vesting starting from 5/14/2018 into the advisory pool
0x082a9b4a683f25396a3db677cd2adb38e246eea20d0962113e82d590c53ec2d8 - 20MM vesting starting from 5/15/2019 into the advisory pool
0x8358c2890cdc8245ef0fa96da1082a22cf3cfa69f5ee463f6131e35d9b806316 - 20MM vesting starting from 5/14/2020 into the advisory pool
0x589fd125ec00bea94e665d879454b1e85d7d7d3fc62bccc5cf736598fa081bc0 - 20MM vesting starting from 5/14/2021 into the advisory pool
0x49656ec1eae2911475aaa090d781e5ef9b2945537ab2fac24bce9ccb3b2aee87
The vast majority of all VGT tokens are locked in a 25 year vesting contract at 0xd698dC82f4Cd43097009E5DDC4e0ADC1E43875a3 transfered at tx 0xf3a587a3fe4f345dd2d4b7fe2a2a4371ba326786f7676e60b32c14b3d2d8e02c. This contract currently holds a balance of 647,737,363 tokens. These tokens will be issued per terms described in Vault12 whitepaper at rate of 10% of remaning balance each year. In the contract https://etherscan.io/address/0xd698dc82f4cd43097009e5ddc4e0adc1e43875a3#code the function calculateGrantClaim calculates yearly grant available for claiming at given date:
function calculateGrantClaim(address _recipient) public view returns (uint256, uint256) {
Grant storage tokenGrant = tokenGrants[_recipient];
// For grants created with a future start date, that hasn't been reached, return 0, 0
if (currentTime() < tokenGrant.startTime) {
return (0, 0);
}
uint256 elapsedTime = currentTime().sub(tokenGrant.startTime);
uint256 elapsedYears = elapsedTime.div(SECONDS_PER_YEAR);
// If over vesting duration, all tokens vested
if (elapsedYears >= tokenGrant.vestingDuration) {
uint256 remainingGrant = tokenGrant.amount.sub(tokenGrant.totalClaimed);
uint256 remainingYears = tokenGrant.vestingDuration.sub(tokenGrant.yearsClaimed);
return (remainingYears, remainingGrant);
} else {
uint256 i = 0;
uint256 tokenGrantAmount = tokenGrant.amount;
uint256 totalVested = 0;
for(i; i < elapsedYears; i++){
totalVested = (tokenGrantAmount.mul(10)).div(100).add(totalVested);
tokenGrantAmount = tokenGrant.amount.sub(totalVested);
}
uint256 amountVested = totalVested.sub(tokenGrant.totalClaimed);
return (elapsedYears, amountVested);
}
}
The single grant existing inside that contract is a 25 year vesting contract for the Vault12 Deposit account at 0x6080E870943134D78fC5bdA619aA808748Edf764. As years go by, the Vault12 Deposit will be able to obtain and transfer 10% of the remainder each anniversary of timestamp 1530403200.
The Vault12 Deposit accounts holds an initial balance of 50MM tokens reserved for next year's product launch and promotional activities, such as potential AirDrops to the first users who create their Vaults in the released application.
- Twenty five year lock in
0xd698dC82f4Cd43097009E5DDC4e0ADC1E43875a3: 647,737,363 tokens - Direct transfers to unlocked investors: 183,322,140tokens
- Early investors one year lock till May 15 2019 in
0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672: 13,742,854 tokens - Unclaimed locked investors: 5,197,643 tokens
- Granted and upcoming advisory grants via
0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672: 15,000,000 tokens - Remaning advisory balance till May 15, 2019 on
0x77AE3FDD2F9feA1B4f32034a6250CbeDE57396ab: 5,000,000 tokens - Vault12 Deposit account at
0x6080E870943134D78fC5bdA619aA808748Edf764: 50,000,000 tokens - 4x advisory pool refresh grants arriving in 2019-22 at
0xd6d79F85D8Cb962b15181AAC0c1545D61B6c5672: 80,000,000tokens - Total created VGT tokens: 1,000,000,000.
- Price range paid per tokens: 97.2188µETH - 119.1602µETH | 8.0267µBTC | $0.07 USD | 143.1962µETH - 480.9958µETH | $0.085 - $0.1 USD.
- Total current supply of tokens unlocked by vesting conditions: 183,322,140
- Total supply of tokens after May 15, 2019: 270,036,373
- First year balance: 183,322,140
- Unlocked investors: 13,742,854
- Unclaimed: 5,197,643
- Vault12 unlock: 64,773,736
- Advisory vesting: 3,000,000