Announcement — Token swap

Dear Sharkies,

effective immediately, there will be changes regarding the exchange of old tokens for the new USHARK:

  • Until June 30, 2024, it is still possible to exchange your tokens without an NFT. The only change is that the tokens will no longer be paid out immediately but will be locked until the end of 2024. If uShark then has sufficient liquidity to prevent a sell-off, the tokens will be paid out. This will be decided again by the DAO.
  • From July 1, 2024, only NFT holders (from Bronze level) will be able to exchange their tokens.
  • NFT holders will always receive their tokens paid out immediately.
  • The tokens that are still in vesting will also be initially frozen until the end of the year; NFT holders are exempt from this.

This decision was made with the DAO and not solely by the uShark Core Team. The Core Team will henceforth allow the DAO to participate in such decisions, so that the community can have a stronger influence on the future of uShark.

Anyone who wishes to actively participate in the DAO is warmly invited to do so. However, this requires the purchase of a Silver or Gold NFT. By purchasing, you actively help uShark and signal your trust in the project.

Now a corresponding statement regarding the decision: Since uShark is still swimming in dangerous waters due to last year’s events and the generosity of the 1:1 token exchange has been repeatedly exploited by individuals selling tokens, we had to act accordingly to bring long-term stability to the price and to convince new investors of uShark. With the current rate, it is difficult to attract new investors. We still want to offer everyone the opportunity to exchange their tokens, but now under different conditions. This was also decided accordingly by the DAO.

We did not make this decision lightly, but for the benefit of uShark and all investors, we had to take this step.

Thank you for your understanding.

Best regards,
uShark Team and DAO Members

Announcement — Token swap. Dear Sharkies, | by uShark | Apr, 2024 | Medium

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