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Community announcement: Token unlock.

Akropolis
Akropolis
Telegram
26 Nov 2020, 09:27
Community announcement: Token unlock As you know by following the AKRO token release schedule (details here), the Foundation tokens are unlocked monthly up until June 2022. As we have not unlocked any tokens from vesting contracts since August 2020, we are notifying the community of the upcoming AKRO unlock from this contract. As partial unlock is not possible from vesting smart contracts, a full amount of ~300mn AKRO tokens unlocked to date will be released. Here’s how the Foundation tokens will be used: 📍 Providing Liquidity: - Due to the September security incident on Kucoin, the significant amount of AKRO tokens that were used for providing liquidity on CEXes remains locked on Kucoin and can’t be used for liquidity provision. - We will therefore direct some of the newly unlocked tokens to provide liquidity on major CEXes and also will add liquidity to Uniswap. 📍 Liquidity mining rewards for Delphi users: - Starting from next Wednesday, Dec 2, we will be increasing LM rewards for AKRO staking and adding AKRO rewards to pools that were impacted by the hack on November 12: Delphi Curve sUSD & Y pools. - Adding AKRO rewards to savings pools is a temporary measure while we’re working on a compensation plan with investors, advisors, our legal counsel and law enforcement organisations. 📍 Stake AKRO into Delphi: - We have always been dog-fooding our own products. However, to avoid user APY dilution, we haven’t been staking AKRO in Delphi since early September. - As an additional gesture of commitment, we will lock a portion of Treasury tokens into the reopened staking pools. The compensation plan is being developed, but as we’re a non-anon team, due process has to be followed involving multiple parties. As some of you may know, we have been using Delphi staking and saving pools since launch ourselves, and collectively we’ve also lost ca. US$230k in the hack. Thank you for your patience! As always, please make sure to only discuss distribution with Akropolis representatives in official channels!