O(1) Labs is dedicated to achieving its vision of a trustless and private internet for everyone. We’re excited to be contributing to the Product Priorities of the Mina Protocol, and we’re especially excited about enabling Snapps on the Mina mainnet.
In order to achieve this vision and continue building Snapps tooling, O(1) Labs conducts periodic MINA token sales via OTC desks to fund its operating budget as well as to satisfy obligations such as paying income tax.
O(1) Labs seeks to conduct these sales in a transparent and responsible way that minimizes impact on the MINA token market. MINA sales are conducted via experienced and regulated OTC desks. O(1) Labs submits its orders to OTC desks with the following instructions:
- ‘Maker’ orders only (so that liquidity is added to the market, not removed)
- O(1) Labs’ trades must not exceed 2% of total daily trading volume
- Pause the order if the price falls by more than 10% since submitting the order
- If the order is paused, only resume selling: 1) if the price has recovered beyond the 10% fall; or 2) if the price has not recovered after five days, resume selling once the price has stabilized at the new lower level
From time to time, O(1) Labs may also conduct infrequent token sales in private transactions with prominent investors in the crypto space (rather than to OTC desks). In addition to providing access to capital, such sales help bring more strategic partners to the broader Mina ecosystem.
O(1) Labs reserves the right to change this policy at any time. We will provide public updates on any policy changes periodically.
