Some LOAN is reserved for team members and advisors, and is locked up for a minimum of one year after system deployment.
In the first year after launch:
- All team members and advisors are unable to access their locked up LOAN tokens
- The Liquid Loans admin address may transfer tokens only to verified lockup contracts with an unlock date at least one year after system deployment
Also, separate LOAN allocations are made at deployment to an EOA (externally owned account) that will hold an amount of LOAN for bug bounties / hackathons and to a LP reward contract.
Aside from these allocations, at this stage the only LOAN made freely available in this first year is the LOAN that is publicly issued to Stability Providers.
Note that the Liquid Loans admin address has no extra privileges and does not retain any control whatsoever over the Liquid Loans protocol once deployed.