Tower Finance V2 Update

Published on: 05.12.2021

Tower Finance Team is currently working hard to solve the problem and issues that we faced. Since it is difficult to use the tokens that were previously issued in the model, they decided to compensate the new tokens.

Please refer to the contents below.

1. Snapshot block number: 22600000 (https://polygonscan.com/block/countdown/22600000)
2. The contract of TOWER Token will be changed, please redeem the TOWER Token.
3. IVORY Token will be converted into a new token.
3–1. The IVORY token will be compensated with the V2 governance token.
3–2. It will be paid in proportion to the held quantity of IVORY.
3–3. Must be held as an IVORY token in the Polygon network wallet.

  • IVORY-USDC LP will be excluded from compensation.
  • Unclaimed IVORY will be excluded from compensation.

4. Governance tokens of V2 to be provided for compensation will be paid from the amount allocated to the team.
4–1. The token provided to the team is vested for 3 years, so the compensation payment will be vested for 3 years as well.

About Tower

TOWER token is a Fractional-Algorithmic Stablecoin, soft pegged to the U.S. Dollar, available on the Polygon network. Tower is permissionless, and entirely on-chain – currently implemented on Polygon chains, plans to expand to multi-chain.

Source:
https://medium.com/@tower_finance/the-notice-of-tower-finance-v2-ed35b59a37d

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