Ondo Foundation launches a proposal to "unlock ONDO tokens" and is expected to determine the Public Launch date before March 31, 2024

According to official news, the Ondo Foundation, an organization related to the RWA protocol Ondo Finance, announced a proposal to “unlock ONDO tokens”. According to ONDO token economics, its total amount is 10 billion, and the distribution plan is as follows: - Sales to the community: 198,884,411 (~2.0%); - Ecosystem growth: 5,210,869,545 (~52.1%); - Protocol development: 3,300,000 (33.0%); - Private Placement: 1,290,246,044 (~12.9%). The proposal describes an unlocking schedule tied to a determined date when the tokens are first transferable (the “Public Launch”). The Ondo Foundation will be responsible for selecting an exact public launch date and is expected to select a public launch date before March 31, 2024, otherwise additional approvals from Ondo holders will be required. The Ondo Foundation was established in 2022 as an independently managed, not-for-profit Cayman Islands foundation company. The foundation acquired ONDO token issuance rights from Ondo Finance. In mid-2022, the Ondo Foundation, through its subsidiaries, was selling ONDO tokens to more than 18,000 individuals through CoinList.