Notice Regarding the BUSD Deprecation Process and The New Pools on AshSwap
Fellow AshSwapians,
As Paxos has halted the minting of new BUSD and Binance will cease their support for BUSD products, we are taking steps to phase out BUSD from the current liquidity pools on AshSwap. This decision is aimed at maintaining the overall safety and stability of the protocol.
We urge you to read the following information carefully to understand the upcoming changes in AshSwap and the necessary actions.
Upcoming Changes and Timeline:
December 6th:
- We have listed 2 new pools: USDC/USDT and EGLD/USDC.
- 2 AshDAO Proposals for starting ASH rewards for the new farms have been submitted for voting and approval.
- Proposal to start ASH rewards for USDC/USDT farm: https://app.ashswap.io/gov/dao/detail/?proposalID=17
- Proposal to start ASH rewards for EGLD/USDC farm: https://app.ashswap.io/gov/dao/detail/?proposalID=18
- 2 AshDAO Proposals to stop ASH rewards for the USDC/USDT/BUSD and EGLD/BUSD farms have been simultaneously submitted to AshDAO as well.
- Proposal to stop ASH rewards for USDC/USDT/BUSD pool: https://app.ashswap.io/gov/dao/detail/?proposalID=19
- Proposal to start ASH rewards for EGLD/BUSD farm: https://app.ashswap.io/gov/dao/detail/?proposalID=20
December 7th:
- The AshDAO voting period for the aforementioned 4 proposals will begin. We strongly encourage veASH holders to vote in favor of these 4 proposals.
- Governance staking rewards for veASH holders will shift to USDC/USDT LP tokens, replacing the previous USDC/USDT/BUSD LP tokens.
December 14th:
- BUSD swapping will be discontinued on AshSwap. LPs in these pools will no longer earn trading fee revenue-sharing.
- Support for liquidity withdrawal from the USDC/USDT/BUSD and EGLD/BUSD pools will continue until all liquidity is either transferred to the new pools or withdrawn.
- Moving forward, a separate announcement will be posted to notify users of our final action on both old pools.
Suggested Actions for Users
- We advise users to withdraw their liquidity from the affected pools and migrate to the new pools as soon as possible.
- Users may swap their BUSD to other available assets on AshSwap before December 14, 2023. Please be aware of potential high slippage due to pool imbalances. For optimal routing, we recommend using the AshSwap Aggregator.
- For any assistance, please reach out to us in our Telegram group. Our team is ready to provide support and guidance during this transition.
We appreciate your understanding and cooperation during these changes.
Thank you,
The AshSwap Team.
