Dear Community Members,
We regret to announce the discontinuation of our 10% NFT Rewards Program due to compliance requirements. To uphold our commitment to transparency and integrity, we propose full refunds to all NFT minters of "Mutated Scientist" and "Lab Test" NFTs. The refunds will be issued directly to the wallets that originally minted these NFTs, in FLR tokens equivalent to the amount initially sent for minting.
To ensure our community is fully informed and can express any concerns, we are initiating a 30-day notice period effective immediately, before processing the refunds. We encourage community members to reach out with any objections or concerns by no later than 11:59 pm AEDT on 7 March 2024. For example, concerns may arise if you purchased an NFT on the secondary market and did not directly transfer FLR tokens to us for minting. Under our proposed refund plan, secondary sale purchasers would need to liaise with the original buyer for their refund, due to our policy of not collecting personal information or verifying identities of minters or holders.
Absent any communicated objections within this period, we will proceed with the refund plan, issuing refunds from the wallet 0xB32772D4Fb556D2D02EFc4F4f5Fbb57CC131b185 on 8 March 2024. For updates or questions, please visit our Discord and social media channels [https://discord.gg/c7qvDZU6Gg].
Additionally, we wish to inform you of a critical update regarding the 'chill' proposal's impact on our Flare and Songbird delegators within the Flare Time Series Oracle (FTSO) data provider network.
The Flare Foundation has approved the 'chill' proposal, and it will soon be implemented on our data providers at the following addresses:
This action will modify the reward distribution for delegations made to our data providers. To continue receiving FTSO rewards, it is essential for delegators to redirect their delegation to alternative data providers not impacted by the 'chill' action.
We advise you to promptly reassess and adjust your delegation arrangements to ensure uninterrupted reward eligibility within the FTSO system.
We regret any inconvenience this necessary action may cause. This measure is crucial to safeguard your interests and guarantee the continuous accrual of rewards within the Flare Network.
Our commitment to transparency and integrity is unwavering. We are devoted to providing regular updates as the situation unfolds. Should you require assistance with reallocating your delegation, or if you have any inquiries, please do not hesitate to contact our support team via Discord or directly through our website.
This notice is made in good faith and does not constitute legal or financial advice. FLR LABS does not accept any responsibility or liability for the consequences of the Flare Foundation's decision, and continues to pursue avenues to challenge the decision. You are responsible for seeking your own independent and professional advice and for mitigating any potential loss you may suffer, including redirecting your stake to alternate data providers as soon as possible.
Thank you for your understanding and continued support during these significant times.
12:19 AM · Feb 7, 2024
We at FLR Labs remain unwavering in our commitment to the Flare Networks vision, even amidst challenges. Our ambition drives us to contribute significantly to its growth, tackling any hurdles along the way.
We are excited to potentially participate as agents within the Fassets system, an innovative project pioneered by Flare Labs. It is important to note that FLR Labs and Flare Labs are separate entities with different roles. Flare Labs is developing the Fassets system, while our team at FLR Labs concentrates on supporting and advancing the Flare Network itself.
At FLR Labs, we are actively investigating methods to engage with the Fassets system. Our strategy includes leveraging our reserve of Flare tokens as collateral, with the objective of improving interoperable bridges. This is particularly crucial for blockchains that are currently without smart contract capabilities.
We are dedicated to transparently sharing our journey and welcome any inquiries regarding our involvement with Flare Networks and the Fassets system.
Best regards, The FLR Labs Team
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