Founders and early investors will be issued 50% of the total supply, while the other 50% will be distributed to the public through promotions and our affiliate program. There is no ICO.
Lock-up period agreement:
The 100 Million OODL to be distributed to the Founders and early investors will be subject to a 4 year lock-up period. 20 Million OODL will be distributed at the opening of Oodlebit, and 20 Million every year after that until the 4th year.
Buy back agreement:
Every profitable quarter we will take 10% of Oodlebit’s net profits and buy back OODL coins from the open market until we have reached 50 Million coins. The coins we purchase will be destroyed with the OODL burn contract decreasing the over all coin supply.