edgeX responds to concerns over 14% EDGE airdrop: early LPs and partners’ allocated shares have been moved to a one-year lock-up wallet

Foresight News reported that the decentralized derivatives trading platform edgeX tweeted that the controversial 14% of the total EDGE token supply airdrop (141,658,500 tokens) has been transferred to a locked wallet. These tokens will be locked for one year using a VestingWallet contract audited by OpenZeppelin.

edgeX stated that the 14% allocation is distributed in accordance with the points program rules to early liquidity providers (LP) and partners who contributed substantial liquidity and supported the platform’s growth. Their high points are due to the large scale of liquidity supplied, and the same distribution standards apply as for regular users. To demonstrate their willingness for long-term support, these addresses have agreed to a one-year token lockup.

Previously, after the EDGE TGE and the points-based airdrop, on-chain data showed that about 14% of the supply flowed into a small number of large wallets, raising strong concerns from the community regarding distribution fairness.