2023-02-13 23:30:31
CMP-2023/1 - Cycle-End Improvement update:
Thank you to all who voted on our latest proposal. The votes were unanimously in favour of simplifying the end of cycle. We believe this will lead to a smooth transition from cycle 1 to cycle 2, benefiting the ecosystem, the protocol and our holders.
Thank you to our community for believing in us, and helping us to achieve our goals. Together we make Monsta even better!
A summary of the changes to the end of cycle is as follows:
- Keep existing liquidity, no liquidity removal & addition, & no minting to LP
- No trading halt (allow trading during claiming period)
- Claiming the MAV shares works similarly to crumbs claiming
- Max 30-day claiming period (instead of 35)
- After the claiming period a new cycle starts (current bigReset() function will be named startNewCycle()) & everyone who holds MONSTA can claim their cycle 2 tokens proportional to their share of cycle 1
- Cycle 1 holders will be able to claim their newly minted cycle 2 MONSTA for a period of 14 days after the new cycle started
- After 14 days any unclaimed cycle 2 MONSTA will not be minted & effectively be burned from cycle 2 supply
You can view the proposal in its entirety here: https://snapshot.org/#/cakemonster.eth/proposal/0x9f995123f3a1afe4393698caa5e545c77b6da5e79dffe656e83dcbbe14ade501
327 viewsSpike Duncan, 20:30