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As with any evolving ecosystem, it’s imperative to continuously reevaluate and adapt to unfolding dynamics. After extensive discussions with the community in town halls and chat conversations, it became evident that the incorporation of illiquid/dilutive NFTs wouldn't serve the best interests of holders nor the ecosystem.
From these conversations came a clear consensus, advocating for the phasing out of farms and the introduction of a GEM conversion mechanism that not only rewards stakers with SUPER, but also provides them with the means to increase their involvement within the DAO staker initiative.
⚠️ WARNING: Beware of scams, this is NOT an airdrop event. Scammers might try to deceive you by sharing fraudulent links or impersonating official channels.
To safeguard your assets and personal information:
- Avoid Clicking on Unknown Links
- Verify Information through Official Outlets
- Report Suspicious Activity
- Never share your wallet Seed-Phrase or Private Key
Only follow official sources for updates and remember, no one from the team will ever DM first.
During the formulation of the GEM conversion process, a multitude of factors were carefully considered, central to which was establishing a fair and equitable conversion rate. This effort aimed to benefit community members, preserve economic equilibrium and maintain a balanced approach for all involved.
In this section, we present the parameters and steps taken during the the GEM conversion process:
- GEM Snapshot - A snapshot of the existing GEM holdings was taken at the time the DAO staker went live, establishing a baseline for the conversion process.
- Total GEMs - 10,199,994 at the time of snapshot
- GEM Conversion Rate - The conversion rate of 2 SUPER per GEM has been carefully calibrated to ensure fairness and value retention.
- Token Allocation - As part of the process, the foundation designated 20,399,988 SUPER tokens from the "Staking Vault" specifically for this initiative.
Below, you can find a comprehensive how-to guide for the GEM Conversion process: