Lion's Mane: TCR tokens transferred to team members

Under the Proposal which engaged Lion’s Mane as a Service Provider to Tracer DAO ( Proposal ), Lion’s Mane is required to disclose when TCR tokens, received in connection with that proposal, will be transferred (https://github.com/lions-mane/tracer-dao/blob/lionsmane-proposal/proposals/LionsmaneProposal.md).

In the coming weeks, Lion’s Mane will redirect 69,525,000 TCR tokens from its own vesting contract to a vesting contract for its team members, where those team members will be able to claim TCR tokens vested on a pro rata basis over three years, starting on 12 February 2021.

Like Lion’s Mane, these team members:

  1. will not vote in relation to a Proposal, or commence a Proposal, for at least 12 months from the date of the Proposal; and
  2. will provide the “Deliverables” stated in the Proposal ( Commitments ).

We expect that a team member’s vesting will be terminated by the DAO if they fail to deliver in accordance with the “Deliverables” stated in the Proposal or Commitments specified above.

It is likely that additional TCR tokens will be transferred by Lion’s Mane to its team members in the future in the way described above. We will post updates in the thread below, prior to each transfer.

Our vision for these transfers is that, in the future, those team members currently working on the Tracer project will be able to independently contribute to its governance.

Lion’s Mane looks forward to continuing to build with Tracer DAO.

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