ICP Reboot Launches New ICPR Token after Forking Dfinity's ICP

ICP Reboot Launches New ICPR Token after Forking Dfinity’s ICP

 

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Internet Computer Reboot (ICPR), the community-driven project that was forked from The Internet Computer Protocol (ICP) aims to create a more decentralized version for The original ICP protocol.

Today, ICPR is delighted to announce the official release of the new ICPR token.

The ICPR token release is relaunching the Internet Computer Protocol (ICP) by forking the project to establish a fair, transparent, and democratic control over the new network.

Ross Jackson, a community builder in ICPR, said:

“The early ICP contributors and seed investors will get the new ICPR tokens according to their original ICP allocations. They will be able to claim their fully vested token allocations without any additional locking or vesting schedule”.

The project has outlined why and how the initial tokens of the ICP Reboot (ICPR) will be distributed to Dfinity’s original seed investors and early contributors here and here.

The initial token distribution has begun on October 4th and focuses on distributing ICPR tokens to Dfinity’s 375 seed investors and early contributors in the following phases:

Phase #1 (October 4th — November 4th) — Claims and Disputes: pre-launch opt-in process to confirm and guarantee your grant.

Phase #2 (November 4th — December 24th) — Allocation to Verified Participants: simultaneous allocation to participants in phase #1 and continued post-launch claims and distributions.

Phase #3 (December 24th) — Allocation to Remaining Participants: allocation to remaining seed investors and early contributors who didn’t participate in the previous phases.

According to the research firm Arkham Intelligence:

“Dfinity quietly allowed its Treasury and insiders to send 18.9 million of ICP to exchanges, while making it extremely difficult for their longtime supporters to access the tokens they were promised.”

The ICPR will first be issued on the Ethereum blockchain as a standard and audited ERC20 token. However, it will transition to a new network when the mainnet is ready. Its relaunch will create an open and inclusive environment for all to participate and contribute.

ICP Reboot is a community-driven project that is forking the original Internet Computer Protocol (ICP) to create the new ICP Reboot network. ICPR will run on a truly democratic decentralized governance system in which members decide how to fork and improve upon this protocol while retaining flexibility on the direction of the network.

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