Billions is facing growing community backlash after changing its initial unlock conditions ahead of its Token Generation Event (TGE). The community sale was initially understood to have tokens immediately unlocked at the time of TGE, but this has been switched 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 quantity + 25% bonus (6-month lock-up) △existing quantity + 50% bonus (12-month lock-up). The community criticized the post-hoc conversion of the pre-presented unlock conditions to a lock-up structure as an unauthorized change to the contract. In response, the Billions Foundation stated, "Refunds will be processed sequentially starting May 19." Kaito's 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 a lock-up unavoidable."
