Founder Retention Notice from RDX Works Limited
January 16, 2022
Radix Tokens (Jersey) has been provided with the following notice from RDX Works Ltd, a core development organisation for the open source Radix Ledger:
Distribution of Founder Reserve by RDX Works Limited
RDX Works Limited holds the Founders Retention (2.4Bn Radix Tokens) which was designated prior to instantiation of the Radix Ledger in recognition of the work undertaken since 2013 by the Founder (Dan Hughes) and the team.
To increase decentralization of RADIX token ownership and to reward the Founder, RDX Works propose to progressively release up to 75m RADIX tokens per quarter from the “Founder Reserve” to its shareholder and option holders over the next 4 years, (roughly quarterly).
These distributions by RDX Works of the tokens it holds will not alter the overall supply of RADIX (XRD) Tokens (9.6Bn) and each represent approximately 0.7% of total supply of tokens. Diffusion of ownership will promote decentralization of token holdings and node runner infrastructure and enhance the security of the Radix public ledger.
The token distribution also encourages and enables the RDX Works team members and shareholders to participate deeply in securing the network and engaging positively in the growing Radix ecosystem.
ISSUED BY RDX WORKS LIMITED
12 JAN 2021
*Original Publication: https://www.radixdlt.com/post/founder-retention-notice-from-rdx-works-limited