Minting Tokens for Liquidity Mining & Ending Migration
All of the actions below are in reference to the “Minting Tokens To Continue Shield Mining” proposal, which was voted on and passed by the Cover Protocol Community. The proposal enacted can be found here.
The additional supply of 14,489.751566617860993128 tokens was minted to dev multi-sig. These tokens will be strictly be used for liquidity mining. This transaction can be found here.
The max supply prior to this proposal being enacted would have been 70,200 tokens. The total circulating supply at the time of ending migration was 67,510. A total of 2,690 tokens went un-migrated.
The minter of the COVER token is set to the 0x address with this transaction. The wETH distributor was also terminated after 6 months. Any unclaimed wETH from the compensation plan was sent to the 0x address.
Migration has officially ended and the new max supply of COVER is set at 82,000 tokens.
The team is very excited to start this new chapter of Cover Protocol! Thank you to the community for coming together to vote on this important proposal! More details on liquidity mining will come in the next week.