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.
The burn value of 1 LID token will be equal to $0.05 in AGF token, this was fixed based on cmc price.
About Augmented Finance
Augmented Finance is an autonomous non-custodial liquidity protocol for earning the highest interest on deposits and borrowing digital assets with the lowest rates. AGF tokens will be the key component of the Augmented Finance ecosystem, starting from governance voting and staking to more utilities as Augmented Finance’s usage grows.
Project doc : http://docs.augmented.finance
Value Transfer Mechanics
On May 1st till may 31th, 2021. If you burn 1,000 LID you will be able to receive $0.05 × 1000 LID = $50 worth of AGF token.
The value per LID which are burned for migration to Augmented Finance is set at 0.05 USD. When Augmented Finance launches, you can claim Augmented Finance’s AGF tokens worth circa 50 USD
The process of claiming will be simple and similar to UNI or 1INCH.
In order to burn and migrate the value of your LID token to Augmented Finance’s AGF tokens, you need to:
1) Find out what your Metamask Ethereum address is (create an account if necessary)
Transfer your LID tokens from the exchanges to your Metamask
2) Send them to the address 0x000000000000000000000000000000000000dEaD or https://etherscan.io/address/0x000000000000000000000000000000000000dead
3) Wait for the snapshot of LID balances and respective Ethereum addresses to take place after May 31.
Subscribe to Augmented Finance’s
or Telegram www.t.me/augmentedfin
for updates Wait for the details and launch date of Augmented Finance’s AGF token from their team
After the announcement access the Augmented Finance’s website and claim your Augmented Finance’s AGF tokens with your Metamask
LID and AGF TEAM