Everscale to Launch $75 Million Program to Attract Large Investments

The Everscale governance council (formerly Free TON), after an on-chain vote, approved a proposal to launch the Crystal Hands program to attract substantial investments into the crypto project.

The Crystal Hands budget will total 280 million EVER tokens (about $75 million at the time of writing). The DeFi Alliance will be responsible for executing it.

Under the program’s terms, the Alliance will determine the amount of coins to be sold in line with prevailing market conditions, network security, and the buyer profile.

Investors will be eligible for a substantial discount to the market price of EVER provided they lock up the coins for at least six months.

DeFi Alliance will be able to sell coins directly and involve third-party projects in the fundraising and buyer-selection process. In successful deals, intermediaries will be paid commissions.

Proceeds from EVER sales will be directed to developing the Everscale ecosystem, including increasing liquidity in DeFi and NFT applications, project advertising, grant funding, and listings on major exchanges.

The Crystal Hands budget has been moved to a multisignature wallet. It has five custodians: Bitscale, BR Capital, Broxus, Minergate and Warp Capital.

Crystal Hands is part of a broad reform proposed by the DeFi Alliance. As part of it, a rebranding has already been carried out, more than half of the initial issuance has been burned, and grants to startups have begun to be issued.

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