Lucid Lands Official Announcement. Many investors have been reporting that they cannot claim the staking rewards.
15 May 2022, 20:20
📣 Lucid Lands Official Announcement 📣
Many investors have been reporting that they cannot claim the staking rewards. The reason for this is that the reward pool is currently at its minimum amount to allow further withdraws.
So here are the solutions:
❗️Reduce APY to 0% => TEMPORARY pause staking
We will temporarily pause staking function for sustainability of the reward pool until the upcoming relaunch. At the current staking rate, it requires approximately 2.5% of total supply (equivalent to 2,500,000+ $LLG) MONTHLY, which will lead to a drained reward pool by the time we relaunch. So the temporary staking pause will be the best result to ensure a sustainable reward pool for the relaunch with a working game product.
❗️We will add more $LLG into the current reward pool right before the relaunch so that investors can claim their reward balance before we proceed with the relaunch. In other words, you wont lose your rewards that you have earned prior to the moment we reduce the APY back to 0%.
The reason why we will add more $LLG into the reward pool before the relaunch instead of right now is to preserve the highest possible liquidity for the relaunch. If we add $LLG into the reward pool now, people will claim and further dump on the chart.
✅ Like always, we are still working on developing our game. Our team is still working hard in the background for the project. At the moment, we are waiting for a working product and developing a plan to relaunch under a better market condition.