Billions is facing growing community backlash after changing its initial unlock conditions ahead of its Token Generation Event (TGE). The community sale was initially announced to have immediate unlock of tokens at the TGE, but this has been converted to a lock-up based structure. Kaito, the launchpad platform that hosted the Billions sale, offered community sale participants three options yesterday: △full refund △existing amount + 25% bonus (6-month lock-up) △existing amount + 50% bonus (12-month lock-up). The community criticized the post-hoc conversion of the previously presented unlock conditions to a lock-up as an unauthorized contract change. In response, the Billions Foundation stated, "Refunds will be processed sequentially starting May 19." Kaito CEO also explained via X that "the initial 5.6% unlock structure acted as an obstacle during the exchange listing process, making the introduction of lock-ups unavoidable."
