LID Protocol has always been at the forefront of the presale fundraising and liquidity locking curve. With the imminent release of LIFTOFF, this same pattern continues today, and into the future.
The existing self-service fundraising market for ERC20 tokens and projects has long left much to be desired. LIFTOFF tackles these issues and provides never before seen solutions to further our directive of making the DeFi space a safer place for investors.
A sophisticated, flexible, and dominating technology breakthrough, LIFTOFF will reshape the self-service presale market entirely.
What is LIFTOFF?
LIFTOFF is the first-ever fully self-service insured launchpad.
This is a recommendation to Penguin Party on how to best return the seized assets they are holding in custody on behalf of the LID community. These assets consist of 404 eth removed from the liquidity pools and XETH contract using owner/admin keys the LID community entrusted to Penguin Party.
As the majority of the LID Stakers stopped staking because of the dissolution of the LID team after the March hack, the fairest way to return these assets is to use a snapshot from before this date.
Due to the March 25, 2021 cyber incident, the LID protocol team, and Augmented finance team has come up with a plan to reward LID token holders through a token burn and swap event.
As the LID team had made it publicly about stopping all the operation of the LID protocol, the LID token holders and community are now called to join the Augmented finance token burn protocol.
To protect the value of LID token, the trusted community and lid supporters, we will be moving the value of LID to AGF through a token burn and swap event.
Due to the March 25, 2021 cyber incident, the LID protocol team will cease operations. This plan outlines the Cessation Plan for both LID and LIFT operations. While the smart contracts for both LID and LIFT will continue to operate, with the loss of funding LID can no longer afford to execute future developments of the platforms.
Liquidations, Buybacks, & Burns. Over the next 2 weeks, LID will liquidate all assets and repurpose them towards buybacks of LID and LIFT tokens. …