$UNCX Staking Updates | April 2023

Dear UNCX Network community,

We hope you are doing well!

This short medium post relates a small update for our $UNCX Stakers (of all tiers). You can find the link to our staking portal here.

By March 31st, $UNCX reward pools for April were filled as usual, but there was a human error made on the top-up. Instead of using the ‘Increase Reward’ method (which is the standard procedure), our team used another method, called ‘Top-up’.

The ‘Top-up’ method extends the rewarding period duration (understand start/end date) while keeping the reward emission the same, whereas the ‘Increase Reward’ method does not impact the dates but the ratio of rewards emission instead.

The above explains why our ecosystem of stakers woke up in early April with ‘no-yield’ farms lasting up to 260 years. Sadly, we have not found the elixir of youth over the last couple of days, as some were wondering in our community channels.

Resolution

Today (April 3rd), our team is taking action and will apply the following steps:

1. Draining $UNCX rewards from the April pools, which currently last for decades (not intended, as stated above)
2. Use these $UNCX tokens (and some bonus tokens to be rewarded for the gas compensation) to re-fill and top-up the $UNCX pool that was used for March 2023.

Therefore, stakers that were already subscribed to the March reward pools do not have to take any action and will see their yield retroactively allocated.

In other words, no action is required from our stakers, UNLESS you already unsubscribed from the March reward pools. In such a case, a re-subscribe to the March $UNCX reward pool will be necessary at your earliest convenience. Related to $UNCL rewards, business as usual (pools have been filled with success today).

Final Thoughts

We would like to kindly thank our community members for their understanding after reading these lines.

Our team remains working around the clock to deliver our next batch of features & services. Without going into the details (this will happen in a dedicated article), our community can expect several deliveries for Q2 and Q3 of this year.

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