Claim & allocate Contributors’ tokens

The DAO has allocated 10% of total token supply, or 100M $SILO tokens, to reward contributors. Contributors can be core team members or anyone who provide services to the DAO, including community developers, projects, and DAOs. The contributor’s token allocation has been vesting since November 2021 and will continue to vest until November 2024. At the moment, the Development Fund has the authority to claim the contributors’ token allocation.

The core team intends to perform the following actions:

• Claim all vested token amount, estimated at 42M tokens.
• Allocate roughly 15.8M tokens to 8 active contributors and 1 past contributor. Active contributors have joined the core team since Silo’s inception but have never received token allocations. See spreadsheet for details. Active contributors vest over 4 years with a 1-year cliff. Unvested tokens can be clawed back (a mechanism to stop vesting in case a contributor leaves the project).
• Send all tokens in excess of 15.8M tokens to the SiloDAO.

References:

• Allocation details https://docs.google.com/spreadsheets/d/15xb8dw1GVfYabDaNPyKSBzeaC3FAOTMePnQFQMo6QEU/edit?usp=sharing
• Token Allocation & Vesting https://silopedia.silo.finance/governance/token-allocation-and-vesting