Back to collectionDistribution Nears Its End, Custody Does Not
Background: Some in the community took “investor distribution is nearly finished” to mean that potential selling pressure was gone, making an earlier July assessment look too optimistic. Today: A-Zhen wrote “distribution” and “liquidation” in two columns on the whiteboard. Impact and next steps: The overhang of unlocks that people had discussed for two years was no longer growing, but it was shrinking only month by month.
A creative chronicle combining project history with imagined scenes. Story events are not verification of network activity.
Background: Some in the community took “investor distribution is nearly finished” to mean that potential selling pressure was gone, making an earlier July assessment look too optimistic. A-Zhen, who was familiar with work on the chain side, asked the Night Watchman for the custody wallet readings. Together they chose to explain the stages separately.
Today: A-Zhen wrote “distribution” and “liquidation” in two columns on the whiteboard. The vesting contract was nearly empty, but the custody wallet shown by the Night Watchman still held more than 100 million XAI. Each month, from the 7th through the 10th, more than 8 million XAI were released on schedule and reached exchanges after two hops. Rises and falls had not disturbed that rhythm in two years. At that pace, the balance would not run down until next autumn. The narrator annotated his July assessment: “I called it too early.”
Impact and next steps: The overhang of unlocks that people had discussed for two years was no longer growing, but it was shrinking only month by month. Distribution nearing completion did not mean the custody balance had cleared. Some in the group began calculating the remaining balance by month; the Night Watchman planned to keep watching transfers so a projected date would not become a promise.