Announcement #3

There has been a lot of concerns from our community about the rug pool. After we heard the feedback from our community, we worked to resolve such an issue as soon as possible. Therefore, we are happy to announce that timelock contract will be applied 8:00 am (UTC+0). Thank you for your patience. The updates on our contract such as, adding pools, removing pools, and changing distribution rates will be applied after at least 48 hours once timelock is applied to the contract.

Since timelock will prevent updating the contract right away, we plan to update few changes (adding pools) before. We tried to organize the suggestions from the community through discord page before we set governance system. However, another concern arose about the fairness of the suggestion. Therefore, we would add only 3 pools in advance as follows:

• YFI — ETH
• COMP — ETH
• DAI — ETH

And further, the distribution rate will change to:

• CREED — ETH : 6.5
• YFI — ETH : 1
• COMP — ETH : 1
• DAI — ETH : 0.5
• USDT — ETH : 0.5
• USDC — ETH : 0.5

We are currently working on using snapshot for governance voting purpose before we develop our own governance page. We will announce it as soon as the page is ready to launch for the further decision of Creed platform.

Finally, the minting rate will be halved at 10,879,250 block. After 10,879,250 block, the minting rate will be halved to 5 CREED per block.

Thank you.