Dear CREED Community,
The name of the new governance token is CREEDv2 (CRD) with a total supply of 1,000,000.
A snapshot of the holders’ wallets token has taken on Wednesday 05:00 am (UTC+0) for later distribution of $CRD. After the snapshot, an additional CREED token added to the holders’ wallets will not be counted anymore.
$CRD will be distributed with a proportional ratio with the original CREED token holding. For example, if you hold 50,000 CREED tokens on your wallet out of 1,060,000 at the time of the snapshot, you hold 4.716981132%. Then, you will receive 47169.81132 $CRD out of 1,000,000. Therefore, please make sure to have CREED token in your wallet before Wednesday.
The CREED team will not airdrop the new token to wallets in MXC or any other exchanges, Uniswap V2: CREED, and Masterchef contract (0x81aff3701a2a6ad7ce2782b61b27967141a8e2ba). Furthermore, as for the CREED dev team’s address (0x7b0a86e56ac272dec0b59ab07194d84637ee2f35), only 10,000 $CRD instead of 20,000 that’s allocated to the dev team will be distributed in order to distribute the remaining 10,000 to the holders. After the distribution, all the new governance token that is not distributed will be burned(the portion that are allocated to above addresses).
After the airdrop distribution of the new governance token, our team will rebuild the governance page and yield aggregator under this new governance token over time.
In thinking of benefiting our CREED community members, after the yield aggregator comes out, 95% of the profits generated from the yield aggregator will be shared among the community, and 5% will be used as a fee, of which 2% is used for further development, 2% will be used to repurchase $CRD, and 1% will be saved for harvesting expenses and insurance funds. We’ll announce the more detailed plan upon the launching of the yield aggregator.
We will announce the details about the new governance token smart contract and distribution allocation shortly.