Pre-Announcement on MPWR Migration
MPWR is ClubRare’s core utility token for building the Phygital Metaverse ecosystem as well as the main currency for the ClubRare Metaverse.
Based on the Metaverse ecosystem to be built using MPWR, ClubRare is set to innovate the future of commerce and physical distribution into a collector-centered structure that brings an intrinsic value to products. ClubRare believes that the future of e-commerce and physical distribution lies in a new user-centric economic system where collectors support creators through Web3 technology and philosophy, not in a structure monopolized by a few conglomerates.
We ask for your interest and participation in ClubRare’s vision to completely overhaul the existing global e-commerce structure with Metaverse and Web3 technology. As MPWR starts building a global community in earnest, we would like to inform the three major news first to our existing Klaytn-based token holders who have supported us from the beginning. The details are as follows:
[ Key Point Summary ]
- 1.MPWR starts achieving its global milestones in earnest. The key milestones for the 2nd half of 2022 will be unveiled next week.
- 2.From now on, MPWR can only be acquired on Ethereum network. MPWR reward payments will be downscaled and discontinued over time, and a sustainable token economy will be developed through the adoption of the token burning model and utility functions.
- 3.The 1st MPWR Migration will be started in September with a ‘differentiated rewards’ structure. The detailed schedule will be announced separately.
- 1.MPWR starts achieving its global milestones in earnest. The key milestones will be unveiled next week.
- 1.MPWR’s key milestones and business updates will be disclosed next week.
- 2.MPWR milestones will be disclosed sequentially, starting with the 1st MPWR Migration and the AMA session planned next week.
- 3.ClubRare’s vision on the Metaverse platform will be revealed through the AMA session. In the AMA session, ClubRare’s Metaverse Product Manager will participate and share detailed plans for the product with the community. We hope the AMA session to be an opportunity for you to communicate directly with ClubRare’s global team members, who can answer your questions.
- 2.As MPWR migrates from Klaytn to Ethereum mainnet, we will discontinue all KLAY-based reward payments.
- 1.MPWR begins its business activities by moving its blockchain base to the Ethereum mainnet, which has recently completed the Merge successfully. MPWR also plans to evolve into a multi-chain platform in the future.
- 2.Klaytn-based reward payments will be entirely discontinued in October when the migration is in progress. After that, MPWR can only be acquired on the Ethereum network.
- 3.MPWR is a token designed with sustainable utility functions and token burning model for the Metaverse platform. We will continue to apply various token burning models in the future.
- 4.MPWR will be used in various activities, such as purchasing Phygital NFTs, decorating and upgrading avatars, My Room, and The House. We aim to create sustainable value with MPWR as the main currency for the ClubRare Metaverse. Furthermore, collectors and various partners of ClubRare will participate in creating the sustainable ecosystem of MPWR.
- 3.The 1st MPWR Migration to the Ethereum network begins with the snapshot event on September 22, 2022.
- 1.Starting with the Migration, MPWR plans to build a global Ethereum-based community with its partners in earnest.
- 2.MPWR Migration to the Ethereum network is the first step to demonstrate the power of the ClubRare community in MPWR’s global community buildin.
- 3.MPWR Migration participants will receive a ‘differentiated rewards’ from the previous AGOV Migration waves.
- 4.We have designed the entire migration process in a way that Klaytn-based MPWR token holders can earn meaningful rewards through their participation in the migration waves and bridge service launch. Be the initial members of the global MPWR community and earn rewards.
- 5.MPWR migration process is similar to the previous AGOV migration.
- 6.We will also launch the MPWR bridge service in the future. The participants of the MPWR migration waves will be given preferential rights to participate in the bridge’s beta testing.
Resources: Want to know more about MPWR?
- MPWR’s main community channel: ClubRare Discord (https://discord.gg/clubrare) All the latest news on MPWR will be shared at #mpwr-chat channel on Discord.
- MPWR is currently listed on Uniswap V3 with liquidity of 60 ETH. After supplying liquidity and building a community through MPWR migration waves, we will continue to increase liquidity in the pool.
- MPWR’s primary marketing channels are Twitter and Discord, and it will also be promoted in collaboration with many global partners and influencers.
[Announcement on the 1st MPWR Migration]
- 2.Participant Selection Method
- 1.A total of 100 members will be whitelisted to participate in the 1st migration wave. (will be selected in the order below)
- 1.LLC NFT holders
- 2.ClubRare DAO members
- 3.If there are applicants with the same conditions, the applicant holding more MPWR tokens at the time of the snapshot will be preferentially whitelisted.
- 3.1st Migration Schedule
- 1.Snapshot: 09:00 (EST) on September 22, 2022
- 2.1st Migration: Within September 2022 (Official schedule will be announced after the snapshot)
- 4.Lock-up Staking Period
- 1.The token holders participating in the migration to supply liquidity to the MPWR-ETH pair can choose the token lock-up staking period between the two options: 90 days and 180 days.
- 5.Criteria of Participation
- 1.The amount of MPWR tokens to be staked for the migration will be determined considering the current price of MPWR(ERC-20) on Uniswap. In other words, MPWR(ERC-20) price will become the base price of MPWR token after the migration.
- 2.MPWR token page on Uniswap:https://info.uniswap.org/#/tokens/0x6731827cb6879a2091ce3ab3423f7bf20539b579
- 6.Recommendations based on the Purpose of Token Migration
- 1.Holders do not need to swap all their KCT-based MPWR assets to ETH network in the 1st token migration. Participants of the 1st wave can freely swap their MPWR tokens from KCT to ETH without supplying liquidity in the 2nd wave, so we recommend moving the rest of your assets at that time.
- 7.Additional Criteria of Participation
- 1.In the case of MPWR(KCT) token balance in each wallet and KSLP(KCT) holders who are providing liquidity to the MPWR-KLAY pair in KlaySwap, the amount of MPWR(KCT) in the liquidity pool will also be calculated based on the same criteria above.
- 1.Whitelists will be selected entirely based on the submitted application forms and snapshots. Therefore, please ensure to enter the correct information, including wallet addresses, in the application form.
- 2.For LP lock-up staking, please enter both your Metamask (ETH) and Kaikas (Klaytn) wallet addresses and use them later in the migration.
- 3.When submitting the application form, please enter the same email address used to join the ClubRare DAO membership in order to check your membership eligibility.