> 0% TGE unlock

> 12-month cliff
> 50% unlock after 12 months
> Remaining 50% vested over the following 12 months

(No disclosure on previous rounds which is eh...)

Yeah, not exactly attractive, especially at this stage of the cycle.

That seems to be consensus among users.

For context, there was a lot of KOL/strategic and other rounds with similar terms to this over the last couple of years, most of which went as well as you would expect...

That said, it does break the illusion that these kinds of rounds are just free money, ready to dump whenever.

Long vesting, complex terms, and underwhelming results are actually quite common and go alongside the 'highlights' you see of the massively successful few that make up for it.

I guess people are comparing to their experience on venues such as virtuals but this is a different ballgame.

On the flip side, if deals coming to Kaito aren’t well received or funded, you’d expect teams to be incentivised to make future ones more attractive.

(Important to note this isn't Kaito setting these terms, the launchpad is just a tool)

There's a balance to be found for sure.