CLOAK Token Distribution
The CLOAK distribution will take place over approximately 12 months starting once the countdown above reaches 0.
1,000,000,000 (one billion) tokens ("CLOAK Tokens") will be distributed according to the details below:
CLOAK Tokens
60,000,000 sixty million
60,000,000 sixty million
420,000,000 four hundred and twenty million
60,000,000 sixty million
280,000,000 two hundred eighty million
120,000,000 one hundred and twenty million
Distribution Details
Phase 1: Takes place on the ULTRA blockchain throughout approximately a 91-day period beginning once the countdown timer above reaches 0.
Phase 2: This phase will begin after Phase 1 ends. Phase 2 will be distributed similar to Phase 1. If the Phase 1 distribution goes well on the ULTRA blockchain, Phase 2 will be held on ULTRA as well. Otherwise, a bridge will be deployed between ULTRA and TELOS blockchains, and the Phase 2 distribution will take place on TELOS.
Phase 3: This phase will begin after phase 2 ends. 420 million CLOAK tokens will be distributed over a 180 day period on the Ethereum Blockchain. Each day 2,333,333.33 million CLOAK will be distributed until the 180 day distribution period ends at which point the CLOAK distribution will reach its conclusion.
Set aside to support exchange listings and private over-the-counter (OTC) deals, negotiated strategically by the CLOAK team to bolster liquidity and market presence.
Reserved for ZEOS token holders who burned their tokens on the EOS mainnet in anticipation of the CLOAK distribution event.
ZEOS token holders who burned their tokens will receive their allocation at the end of each token distribution phase.
The distribution will be conducted via "airgrab" as follows:
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Phase 1: 20% of the total allocation
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Phase 2: 20% of the total allocation
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Phase 3: 60% of the total allocation
Reserved for CLOAK Labs.
Further Explanation
At the end of each day (distribution period), a set number of CLOAK Tokens will be distributed pro rata amongst all participants, based on the total UOS contributed during those periods, respectively, as follows:
Number CLOAK distributed to distribution participant = a(b/c)
a = Total UOS contributed by a distribution participant during the period.
b = Total number of CLOAK Tokens available for distribution in the period.
c = Total UOS contributed by all distribution participants during the period.
Example:​
1. 20 CLOAK Tokens are available during a period.
2. Bob contributes 4 UOS and Alice contributes 1 UOS during the period.
3. As a total of 5 UOS were contributed for 20 CLOAK Tokens during the period, 1 CLOAK Token will be distributed for every 0.25 UOS contributed. Therefore, Bob recieves 16 CLOAK Tokens and Alice recevies 4 CLOAK Tokens.
Distribution Schedule​
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The distribution schedule comprises of three (3) phases commencing once the above countdown timer reaches zero, followed by approximately three hundred sixty-five (365) consecutive periods / days. After the end of the final period within Phase 3, the token distribution event will end. CLOAK tokens acquired will be available for use immediately upon receiving them in your CLOAK Wallet at the end of each distribution period.
*The CLOAK protocol will be available for use by both developers and users on the ULTRA Mainnet starting on the first day of the token distribution.​
Phase | Number of CLOAK Tokens Distributable | Duration | Blockchain | Accepted Tokens |
|---|---|---|---|---|
1 | 60,000,000 (sixty million) | 3 months | ULTRA | UOS |
2 | 60,000,000 (sixty million) | 3 months | TBA | TBA |
3 | 420,000,000 (four hundred and twenty million) | 6 months | Ethereum | ETH |
How To Participate​
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To participate in the CLOAK Token distribution, you will need to send UOS to the CLOAK contract using one of the recommended wallets below. During Phase 1 of the distribution, you will be able to use either your ULTRA wallet or CLOAK wallet to participate in the token distribution. An easy to navigate interface will be presented to you that will allow you to particpate. For Phase 2, whether on ULTRA or TELOS the same will apply. For Phase 3, this will be slightly different in that you will need to use your Ethereum wallet to send ETH to the CLOAK smart contract address during a distribution period of your choice. Participation instructions will be updated before the commencement of Phase 3 to help individuals participate in the token distribution on the Ethereum blockchain.
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Phase 1
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How to Purchase UOS​​
Native UOS can be purchased here:
KuCoin (UOS/BTC)
ULTRA Chrome Extension (Purchased Through Simplex)
Directions
How to Purchase ULTRA using the Chrome Extension
*There are 2 types of UOS. The ERC-20 version of UOS and the Native version of UOS. This distribution event will only accept the Native version of UOS. The ERC-20 version of UOS will not be accepted
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Recommended​
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In order to make sure contributions are sent and received correctly, we recommend using the following configuration:
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CLOAK Distribution Calculator
