Off The Grid confidential letter sparks speculation around tokenomics
The shooter game Off The Grid has generated mixed reactions due to a leaked confidential letter sent to Gunzilla Games' private investors regarding its recently tradable GUN token. Launched on Binance, GUN's market cap surged initially but has since declined to $40 million. The letter mentions a SAFT (Simple Agreement for Future Tokens), indicating that investors pre-funded for future token issuance. Change in the vesting tokenomics is also noted, which offers investors a refund option if they disagree with new terms. Initially, seed round investors were to unlock 5% of their tokens at launch, while strategic round investors were to unlock 2%. However, the strategic round is now seeing 0% unlock at launch, extending the waiting period significantly. Some speculate this adjustment may be linked to funding the Binance listing, though Gunzilla has not confirmed this. Opinions vary, with some investors appreciating the delays to prevent 'dump on retail' situations that can harm project reputation.
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