RE: About CentG Token Liquidation
You are viewing a single comment's thread:
Hi mate, some questions/answers validations:
Liquidity provider rewards in Hive/CentG and Cent/CentG liquidity pools will continue to be distributed for another month.
1- I am assuming here you mean "another month" on top of the current month waiting for people to decide if they want to swap CENTG tokens for 3000 CENT or instead play with the remaining rewards of the pools... which is in 63 days for SWAP.HIVE:CENTG and 70 days for CENT:CENTG respectively. Correct me if I am wrong, and if so, what would the project do with the remaining token rewards still inside the two pools?
1.1- Or are you deactivating the pools in 30 days and flushing all the balance?
Liquidity will be added to the pool regularly by the @centtoken account. And the price will be increased again above 2750 Cents. Please do not sell your tokens at a loss.
2- Are you doing this by printing more or buying from the project liquid?
3- When are the tokens being sent to balance as staked (timewise)? Printed or from a liquid balance? And which account if so...
Note to myself... I am glad I didn't use CENTG tokens inside my pool, but this made me think... how one would do this if people would have added CENTG into other pools? There would be lost stuff... a reality, but something to think about.
Hello. Thanks for asking. This will also be useful for other users. Reward distribution in Hive/CentG and Cent/CentG liquidity pools will be stopped on May 8, 2024. We chose this method to protect liquidity providers who will be informed of the announcement late and to maintain the price balance in the tokens.
500,000 Cent unstake process has been started on the @centtoken account. 500,000 liquid Cents were debited from @balina account. New Cent minting is not being considered. We also buy from the Hive/Cent market whenever possible. However, in cases where the liquid Cent amount is met with the above-mentioned conditions (CentG sent to the account is met or the price in the pool falls below the mentioned level), printing Cents was considered as a last resort. In other words, we considered inflation as a last resort.
Token submissions are not automatic. However, within a few hours, staked Cent tokens will reach the sender.
Appreciated.