CoinSavi’s New Token Lockup Mechanism to Encourage Active Users
CoinSavi is introducing a new mechanism for users who own SAVI tokens but have not mined SAVI for more than 30 days. This is to encourage users to continue mining SAVI, attract back users who have left, and control the non-inflationary supply of SAVI tokens. Here’s how it works:
How the SAVI Token Lockup Mechanism Works for Inactive Users from 10/12/2024:
If you have not mined SAVI for more than 30 days, a portion of your SAVI token balance will be locked. The amount locked will increase over time as you continue to be inactive. Don’t worry, though – as soon as you perform a mining session, all locked tokens will be unlocked.
Here are the specific timelines:
Number of Days Without Mining | Number of locked token | Deadline to Re-Mining to Avoid Losing Tokens |
30 ngày | 10% number of token | 60 days |
60 ngày | include 20% number of token | 90 days |
90 ngày | include 30% number of token | 120 days |
120 ngày | include 40% number of token | 150 days |
Illustrative Example
Assume User A's last mining was on 12/1/2024:
By 12/31 (after 30 days), 10% of User A's SAVI tokens will be locked.
If User A still hasn't mined by 1/30/2025, 10% of the tokens will be revoked.
However, if User A mines at any time before 1/30, all tokens will be unlocked immediately.
Special Case for Users Who Are Currently Inactive: (From 12/09/2024 and before)
When this mechanism is implemented, some users may have been inactive for a long time. Here's how it works:
Inactive for more than 30 days: Lock 10% of tokens. Users have 30 days to mine once to unlock all.
Inactive for 60 days: Lock 30% of tokens. Mining once in the next 30 days will unlock all.
Inactive for 90 days: Lock 60% of tokens. Mining once in 30 days will unlock all.
Inactive for 120 days: Lock all tokens. Mining once in 30 days will unlock all.
This system helps maintain an active community, re-engage lapsed users, and manage the SAVI token supply effectively.