Shrapnel Reduces April 2024 Token Unlock by 75%

Shrapnel, the highly anticipated AAA-rated FPS shooter developed by Neon Machine, has announced a significant update to its token unlock schedule following input from the community.

The revised schedule will see token unlocking commence on April 29, 2024, with a non-linear approach. While the community reward pool emissions and ecosystem fund unlocks remain unchanged, the number of tokens set to unlock in April 2024 has been slashed by nearly 75%, illustrated below:

The non-linear unlock structure divides the total unlock period into four segments, starting with a slower unlock rate and accelerating as the user base and utility of SHRAP expand over time. The existing unlocked SHRAP tokens will remain unaffected. To provide clarity on the updated schedule, Shrapnel has released an updated whitepaper, which can be accessed here.

Prominent NFT whale Grail has praised the move, highlighting it as evidence of the team's commitment to the project's longevity and the welfare of its community.

It's not easy to do so, especially in a bull market where that vesting amount is a huge amount of money for all parties

This adjustment, made amidst a bullish market, demonstrates the team's dedication to the project's success over short-term gains.

To me it says a lot about the team and how they think. A greedy team who just wanted to cash out or take the easy way, would not do this.

The decision underscores Shrapnel's broader vision to establish itself as a global entertainment franchise. By redefining its token unlock schedule, the team aims to foster a positive community sentiment while cultivating a sustainable economy around the SHRAP token - avoiding overly diluting the token in its original plan.

Shrapnel is currently in pre-alpha early access and is listed on the Epic Games store. The game has been hosting public gameplay events, with its upcoming STX1.2 event boasting a SHRAP prize pool of 338,103 tokens.

As of now, the $SHRAP token trades at $0.2898 with a market cap of $69.8m.