justme

Gm everyone, This is not an announcement we wanted to make, but after careful consideration, the team has decided to wind down the protocol. The protocol was designed to hold a price floor, a mechanism that many participants never fully understood. During the wind-down, we will demonstrate that Ducat is fully backed by the treasury: each Ducat carries a right to its proportional share of the protocol treasury. ANY claim towards DUCAT treasury (vested bonds, vested pass rewards, pducat staked, pducat in cooldown, and liquid ducat in wallets) will be able to redeem without any cooldown period. How the unwind will work 1. Snapshot and redemption: We have taken a snapshot of DUCAT holders. Holders included in the snapshot will be able to redeem the fair value of their Ducat from the protocol treasury. Ducat purchased in the liquidity pool after the snapshot is not eligible for redemption. 2. Passes: They will continue to capture new emissions, which holders can sell into the pool. 3. Front-end: We have updated the front end to enable smooth redemption: ducattreasury.com/app Thank you to everyone who supported the project.