UDT Token Grants Program
When Unlock Inc. created the UDT token, we pre-mined a total of 1,000,000 tokens. These tokens are kept in Unlock's multisig wallet and our goal is to use up to 800,000 them to foster adoption of the protocol. The remaining 200,000 tokens will be held back for Unlock, Inc. to continue to work as stewards of the protocol.
By November 1st, 2022, we have distributed just over 300,000 tokens. It's our goal to distribute another 100,000 per quarter in 2023 bringing us close to our overall goal by the end of 2023. The UDT Grants Program will be a large portion of those distributions.
Governance token grants give projects building on Unlock Protocol immediate voice in our DAO. We believe that these token holders will continue to vote for a more long term and sustainable future for the protocol over speculative investors since they have a vested interest. In addition we want to foster healthy ecosystem growth through application integrations, education and events. All important to making the entire ecosystem run smoothly and increase network volume, add to credibility and boost the visibility of Unlock Protocol.