As one of the scouting priorities is supporting the community, BitKNOT Founder has dedicated 200.000.000 BKNOT tokens and locked for the scouts movement. Gradual release of tokens is planned to international scouts organizations, or global projects. It is foreseen for the funds not to be used for trading but rather for purchasing goods, services or for donation purposes to recognized associations.
How does it work?
The fund tokens have been locked for 2 years. This period shall be used to deploy and use the $BKNOT token. National scouts organization will then have the right to vote on how the tokens will be distributed. It was initially planned that funds may be released only when the majority of all 172 national organizations will be holding $BKNOT tokens and be officially part of the BitKNOT community. Distribution can be done only at equal amounts to each organization. However, since the BitKNOT project is decentralized and open to the community, it will be the scouts community to decide on the distribution methodology. Basically, holders of $BKNOT will decide.
In order to create proper distribution plans and not to jeopardize the BitKNOT token value, the funds may be released (after the locking period) in four tranches, max. 25% (50.000.000 BKNOT) per year, starting two years after token launch. So, from August 12th 2025. Afterwards, the token ownership will fully be transferred to the community.
Scouts BitKNOT Fund locker contract: 0x56732B7eAb834310Ec2764d39aF24bEbA7176654
Presale Stage 4 ends in: