To the Covalent Community, The response to the Covalent Recov | Covalent Official Announcements

To the Covalent Community,

The response to the Covalent Recovery Plan has been overwhelmingly positive. We appreciate your ongoing support.

As part of the Covalent Recovery Plan, the Covalent Foundation will be migrating staked Nomad CQT (”madCQT”) to Wormhole CQT (”WholeCQT”). Those who have not staked their madCQT on Moonbeam cannot follow the Covalent Recovery Plan.

To facilitate those with unstaked madCQT and who wish to take advantage of the Covalent Recovery Plan, we will be increasing the staking capacity. This will open approximately 10M in staking room. This is enough room for everyone with madCQT unstaked.

As a result, our community members with unstaked madCQT can stake before the migration target date (15/12; conditional to audits) and follow the Covalent Recovery Plan.

This increase in staking capacity will take place at 2 pm PST on 28/11.

More information on the plan can be found below:

https://www.covalenthq.com/blog/covalent-recovery-plan/