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 sources, the RWA agreement Ondo Finance-related organization Ondo Foundation announced the launch of the "Unlock ONDO Token" proposal.

According to the ONDO token economics, the total amount is 10 billion, and the distribution plan is as follows:

- Community sales: 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 related to the first transferable date ("Public Launch") of the token. The Ondo Foundation will be responsible for selecting the exact public release date, and is expected to choose a public release date before March 31, 2024, otherwise additional approval from Ondo holders will be required.

The Ondo Foundation was established in 2022 and is an independent management non-profit Cayman Islands foundation company. The foundation acquired the ONDO token issuance rights from Ondo Finance. In mid-2022, the Ondo Foundation sold ONDO tokens to more than 18,000 individuals through its subsidiary CoinList.