Vesting and Release Schedule
All allocations below are released on a monthly basis. Annual percentages are implemented as linear monthly releases within each year bucket. The table summarizes, for each allocation, the TGE unlock, cliff, vesting duration, and the effective release profile.
Founders (Private round)
10%
0%
12
48
60
0% at TGE, 12-month cliff, then linear monthly vesting over 48 months
Team
20%
0%
12
48
60
0% at TGE, 12-month cliff, then linear monthly vesting over 48 months
Ecosystem
10%
10%
0
36
36
10% unlocked at TGE, remaining 90% released linearly over 36 months
Community
35%
5%
0
60
60
5% unlocked at TGE, remaining 95% released linearly over 60 months
Treasury
15%
0%
0
60
60
0% at TGE, released linearly over 60 months
Liquidity and Reserve
10%
100%
0
0
0
Fully unlocked at TGE (no vesting)
The chart below illustrates the evolution of SHIP circulating supply over time as tokens unlock according to the vesting schedule. It provides a clear view of how each allocation bucket contributes to supply expansion from TGE onward, including immediate unlocks and the gradual monthly releases following cliffs. This visualization helps readers assess the cadence of supply entering the market, identify the main drivers of dilution at each stage, and understand how the distribution profile progresses toward full circulation over the five-year horizon.
The circulating supply chart summarizes how SHIP enters the market over time under the monthly vesting schedule. Rather than reading the full month-by-month table, the key takeaways are the inflection points and the predictable release cadence by bucket.
Starting circulating supply at TGE
Circulating supply starts at 127.5M SHIP, or 12.75% of total supply. This is driven primarily by Liquidity and Reserve being fully unlocked at TGE (100M), plus the initial unlocks from Ecosystem (10M) and Community (17.5M). Team and Founders have no TGE unlock.
Months 1 to 12: controlled, steady expansion
During the first 12 months, circulating supply increases at a stable pace of about 10.54M SHIP per month, driven by Ecosystem, Community, and Treasury releases. This keeps early dilution gradual while the market establishes liquidity and price discovery. By Month 12, circulating supply reaches about 254M SHIP, or 25.4%.
Month 13: main step-up when cliffs end
A clear inflection occurs at Month 13 when Founders and Team unlocks begin after their 12-month cliff. Monthly net unlock increases to about 16.79M SHIP per month, reflecting the addition of these two streams on top of the ongoing Community, Ecosystem, and Treasury releases.
Months 13 to 36: most active release period
This is the period with the highest unlock velocity, but it remains linear and therefore easy to model. The monthly unlock is the sum of largely constant streams across buckets, which reduces uncertainty around supply entering the market.
Month 37: unlock velocity decreases as Ecosystem completes
At Month 36, the Ecosystem allocation finishes releasing. From Month 37 onward, monthly unlock drops by the Ecosystem stream, to about 14.29M SHIP per month, and remains stable through the end of the schedule.
Key supply milestones
Month 12: 25% circulating
Month 24: 46% circulating
Month 36: 66% circulating
Month 60: 100% circulating
Overall, the profile is intentionally smooth. Early dilution is limited, the largest increase in unlock rate is clearly located at Month 13, and the unlock velocity then steps down at Month 37, making the supply trajectory transparent and predictable across the five-year horizon.
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