AGOV Migration Plan
After growing in the asian market, ClubRare made an impressive global debut at NFT.NYC in 2022. With growing business partnerships and opportunities, the team is prepared to officially migrate AGOV from Klaytn to Ethereum.
In the second half of 2022, ClubRare will focus on scaling up as become a market leader of Phygital NFTs and the Phygital Metaverse, with major developments for community, partnerships, and product development.
ClubRare is currently discussing partnerships with a number of global exchanges about the best time to list tokens along with the token migration to the Ethereum network.
One of the most important factors in a crypto project is the power of its community, so we plan to prove to investors and partners that we can create proper liquidity solely with the power of our community.
For security, we will follow the following steps in our migration plan.
Step 1: Our first step in the process of AGOV migration to Ethereum is to migrate select users in batches of 100 over subsequent rounds, manually.
Step 2: We will enable a closed early access of the token bridge to additional select token holders for self-migration.
Step 3: We will launch the bridge for all AGOV holders.
The initial early wave participants will stake their tokens for at least 90 days.
A total of 100 members will participate in each wave, with the 21 Legendary Lazy Leo holders having first priority, and AGOV holders of 500K tokens having second priority.
First participants will be selected starting at the end of August.
Subsequent waves will begin after 2 weeks.
A minimum of 2 ETH and AGOV(KCT) equivalent to the amount of ETH are required. All prices are based on AGOV-ETH pair.
ClubRare suggests that holders only migrate and stake 10-30% of their balance in their first wave. Once a participant has staked their tokens in a migration wave, they may also participate in future waves without staking.
Once staking periods end, a participant may mint free Lazy Leo Club NFTs and earn $MPWR tokens.
- Rewards for 90-day LP lock-up staking: 1 LLC + MPWR rewards will be provided for every 1 ETH participated
- Rewards for 180-day LP lock-up staking: 2 LLC + MPWR rewards will be provided for every 1 ETH participated
MPWR rewards equivalent to 30% APY will be provided. The APR is subject to change depending on the market situation.
We will be focusing on the AGOV(ETH) liquidity supply to accelerate its growth on Ethereum network. We will maintain cross-chain compatibility between Klaytn and Ethereum networks through our own migration processes.
1) August 10 - ClubRare Farm’s AGOV(KCT) and MPWR(KCT) Single Staking Reward Ended
To focus on AGOV(ETH) network and provide AGOV-ETH LP staking benefit, we will discontinue AGOV(KCT) and MPWR(KCT) staking rewards from ClubRare Farm, as of August 10th.
We plan to use AGOV(ETH) to provide various services including DeFi and listing on exchanges. Migrating the liquidity of the Klaytn network to the Ethereum network during the liquidity supply period is one of the requirements to list our tokens on exchanges.
Please also be advised that no changes will occur in the AGOV-KLAY and AGOV-HINT pairs, where liquidities are being supplied for KCT-based trading activities.
- 1.Everyday Drops Starting in September, we will announce the first batch of "Everyday Sales" items related to global fashion, collector, and crypto industries.
- 2.Limited Drops In Limited Auctions, special and rare items will be up for bid, with 50% of the winning bid being deposited into the ClubRare DAO Treasury. Multiple partners are preparing to participate in these activities, and we are building an internal schedule.
- 3.AGOV Payment Support on ClubRare Marketplace Users can participate in auctions on ClubRare Marketplace using AGOV(ETH). With the payment support, we anticipate AGOV to become active on the Ethereum network and increase its demand by creating practical use cases.
- 4.Featured Drops Negotiations with one of ClubRare’s existing partners for auctioning an ultra-rare item are in the closing stages, and an NFT auction schedule with an undisclosed mega partner who has recently shown their intention to participate is also being discussed in parallel. ClubRare will support ETH and AGOV(ERC-20) payment options. However, we will provide more benefits to auction participants using AGOV(ERC-20) through participation in ClubRare DAO accelerating activities.