L3P — Unlocking a Token

Two of the most common questions we receive are, “What is the total circulation of L3P?” and “How many tokens will unlock next month?”

These questions are asked both by investors and those who have bought the token on the open market because they want to know how new token supply might affect the price. This article will explain precisely how Lepricon’s L3P token emission will work.

First, a reminder on our pre-sales structure for the private rounds:

Seed — US$0.012

15% of the L3P Tokens unlocked at the Token Generation Event (“TGE”). Following this, the tokens are subject to a three-month lock-up period, after which the rest of the tokens unlock on a linear schedule over five months.

Private sale — US$0.02

15% tokens unlock at the TGE, and the remainder will unlock over the next five months.

We understand that there is always a concern when tokens unlock. Lepricon has taken some measures to mitigate this.


First, we have created an attractive staking pool on MANTRA DAO, which at the time of writing holds over 40% of all L3P on the market. Locking up so much circulating L3P has helped protect the price of the token. Most of our private sale contributors are staking because the combination of high yield, and their belief in the long-term value of L3P, has encouraged them to take the long-term view with the bulk of their holding.

We will continue to push staking as new tokens come online. We will also be announcing details soon on an additional staking option for liquidity provider tokens from Uniswap.

Linear Unlock for Seed & Private Rounds

Second, we will not be unlocking the tokens in one-month blocks as is typical. Our process is a little different and works as follows:

  1. In two weeks, we will broadcast all private tokens in a single event to all private contributors. The tokens will be locked and unusable, but they will be held and visible in the contributors’ wallets.
  2. The smart contract will begin a process where a proportion of tokens will unlock every 12 hours or twice per day while they are in the recipient’s wallet. For example, if a contributor were due to receive 60,000 unlocked tokens this month, then they would find 1000 new tokens unlocked in their wallet every 12 hours, with all 60,000 available by the time the total amount was due.
  3. All seed contributors will receive their tokens in three months, and the same process will begin for them.

Everyone will get their unlocked tokens when they should, but no one will get a large amount that can be quickly sold on the market on the same day as everyone else if they intend to sell.

One limitation among some of the standard wallets is that they cannot tell if a token is locked or unlocked. They just see that it is there. To mitigate this, we will be launching a simple service on the Lepricon website where you can connect your wallet and see the exact amount of locked and unlocked tokens.

Finally, as this will not be in place for two weeks, we manually dropped seven days, or 14 cycles, of unlocked tokens into all private round contributors wallets on Wednesday. We will do the same thing next Wednesday, and then the following week, we will do the final broadcast.

Team & Advisors

Team and advisor tokens are subject to a 24-month vesting schedule, with tokens distributed as follows:

  • All tokens locked for the first 180 days following the TGE
  • 181 days following the TGE, 1/18th of tokens unlocked.
  • Following this, every 30 days, another 1/18th of tokens are unlocked until all are distributed after a total of 720 days (2 years).

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