Plasma Founder Clarifies XPL Lock-Up and Team Background
Paul Faecks denied insider selling claims after XPL’s 50% drop, stressing all team tokens remain locked and no insider sales occurred.
Summary
Plasma founder Paul Faecks rejected allegations of insider selling after XPL fell over 50%, emphasizing that no team tokens have been sold. He reiterated that all investor and team holdings remain locked under previously disclosed terms, countering speculation tied to the market downturn.
Terms & Concepts
- Token Lock-Up: A restriction period during which allocated cryptocurrency tokens cannot be sold or transferred, often to promote stability and investor confidence.
- Cliff Period: An initial phase in a vesting schedule during which no tokens are released; once completed, a portion becomes available.
- Market Maker: An entity that provides liquidity to markets by continuously quoting buy and sell prices for assets.