Sablier Vesting Stream SHELL

Understanding vesting SHELL tokens

Overview

CRAB is convertible into SHELL vesting stream NFTs. For more information about vesting streams, refer to the Sablier docs. SHELL is subject to a linear lockup.

You can convert any amount of your CRAB into a vesting NFT worth the equivalent amount of SHELL. The NFT will then disperse SHELL evenly per block from January 22nd, 2024 to January 22, 2026.

You can view SHELL stream NFTs on OpenSea by filtering for the SHELL trait on the Sablier V2 Lockup Linear NFT page.

Transferring the NFT makes the new owner the recipient of the stream. The funds are not automatically withdrawn for the previous recipient.

Vesting

The purpose of the vesting schedule is to gradually increase the circulating token supply. Sudden increases to the token supply could have an adverse effect on the nascent Shell ecosystem. The important thing to emphasize is that everyone is on the same vesting schedule; investors, core team and community are treated equally.

The following stakeholders are subject to a two-year, linear vesting schedule:

• Cowri Labs Team

• Cowri Labs Investors

• CRAB holders

Vesting for CRAB holders is autonomous and once initiated, cannot be reversed by anyone.

The following stakeholders are exempt from vesting:

• The Shell DAO

• The Shell Foundation

The Shell DAO's treasury reserve of SHELL will not be subject to vesting, but will be deployed at the DAO’s discretion. Additionally, the Shell Foundation will retain a reserve of SHELL tokens, which will also not be subject to vesting.