All pre-launch investors have contractual agreements. These agreements specify their lock-up periods. All investors have a one-year lock-up. What varies based on jurisdiction is the way these tokens “unlock” over time.
For instance, all US investors have to wait a full year in order to be able to transfer any of their tokens. This is implemented contractually.
Non-US investors unlock their tokens over time on a daily basis within the first year. At the end of the first year they have all their tokens. That’s why you see an increase in tokens over time in the graph in question 20 here Radicle Liquiditiy Bootstrapping Event FAQ Many of them have also to follow additional restrictions based on the country they are based in.
The reasons why we designed the unlock schedule this way are:
- To comply with local authorities
- To avoid price pressure one year in, when most tokens would become available
- To give enough time and space for the network to build liquidity
Finally it’s important to say that most of the investors we decided to work with are well established funds that operate on a 5-10 year horizon.
I hope it helps.