We have paused the release of vested CARDS tokens.
We believe ADA mainnet will provide ample liquidity and optimal market conditions to resume the vesting release at that time. Should any initial holders decide to claim and burn half their tokens now, current CARDS stakers will receive a percentage of those tokens proportionate to their number of CARDS staked.
To qualify for additional CARDS tokens, stakers are required to have their tokens staked for the next 7 days. Randomly timed snapshots will occur each day over the 7 day period beginning Friday, June 11th @ 11am UTC.
We have sent the following email to Round 1 and Round 2 CARDS IDO participants due to feedback from them, as well as the community as a whole:
Dear Valued CardStarter Supporters,
We appreciate your continued engagement in the CardStarter community. We know that our early backers believe in the long term success and growth of CardStarter as a platform, and the underlying CARDS utility token.
The CardStarter team prioritizes the success of all community members and stands ready to support the community, however the platform evolves and is shaped by the decisions of the community.
Round 1 (R1) and Round 2 (R2) participants have played an integral role in contributing to the early success of CardStarter, and are important to the sustained success of the project. Many R1/R2 participants have expressed a desire to modify the release schedule in order to support the overall market and minimize the market impact from the release schedule.
Leading up to ADA mainnet, it’s our belief that the focus on Cardano will lead to increased attention for Cardano based projects and stronger value for R1/R2 participant’s remaining CARDS tokens.
CardStarter would like to provide two options proposed by the community to our R1/R2 participants:
An adjusted release schedule of their remaining CARDS tokens, continuing at the beginning of ADA mainnet. (Claims are paused until this matter is resolved)
The option to claim ALL of your remaining vested CARDS tokens now with a 50% burn. 40% of tokens will be permanently taken out of circulation, while 10% will be distributed to all CARDS stakers proportionate to the number of CARDS tokens staked.
We are thrilled with the level of success our R1/R2 community has seen to date, and look forward to your continued success moving forward!
Please respond to this email within the next 48 hours to confirm which option you wish to proceed with. If you do not respond within 48 hours you will be deemed to have chosen option 1 with the adjusted release schedule and no token burn.