Ending FreshCut Diamonds (FCD) Development and FCD Recovery Instructions

Penta Labs and FreshCut are ending their partnership to develop and integrate blockchain FreshCut Diamonds (FCD) into the FreshCut ecosystem. To learn more about the FreshCut decision, please read here.

• FreshCut is removing blockchain FCD, the blockchain wallet, and all other blockchain-based elements from the FreshCut platform effective January 31, 2023
• FCD tokens on exchanges will be transferable to your non-custodial wallet for use in the recovery process at fcd.gg
• Penta Labs will provide for issue designated recovery amounts in USDC to primary and secondary purchasers of FCD
• Penta Labs will use its remaining capital (minus recovery administration, operations and legal fees) raised in the initial non-US, regulatory-compliant token offering in April to May of 2022 in recovery efforts.

Note: Penta Labs is the token issuer and developer of the token. FreshCut is the content platform that integrated blockchain FCD.

If you have any questions regarding the recovery or the end of support for FCD please direct them to labs@fcd.gg.

How does the recovery process work?

Penta Labs deeply appreciates the support of the community and early backers who adopted FCD and is undertaking a recovery effort to everyone who has purchased FCD in the April to May 2022 offering event or in the secondary market. Penta Labs believes it is important to do right by our supporters given the difficult market conditions and to pay out any remaining capital (minus recovery administration, operations and legal fees) to FCD token holders.

There are two separate recovery processes:

1. Primary Token Purchasers: for any tokens purchased through the April — May 2022 launch events via Republic Crypto, Polkastarter, or the private strategic round.
2. Secondary Token Purchasers: for any tokens purchased on an exchange after May 2022.ass

NOTE: FCD TOKENS CAN ONLY BE ELIGIBLE FOR ONE OF EITHER PRIMARY OR SECONDARY PROCESSES, NOT BOTH.

While it is possible for users to participate in both processes (not recommended), each FCD token can only be part of one of either. For clarity, at the end of each process, each FCD token must be sent to a wallet address designated by Penta Labs for confirmation in order for respective USDC amounts to be sent back to the claimant.

Primary Token Purchasers

If you purchased FCD via a Primary Offer during April to May 2022

• If you purchased FCD via offerings on Republic Crypto, Polkastarter, or via the private strategic round in April/May of 2022, you will be able to receive approximately 55% USDC recovery on your initial purchase amount.
• Please visit fcd.gg on Monday, January 23, 2023, for further information on the steps and process to submit a claim.
• To make a claim, you will submit the information via a claim form at fcd.gg to be release on January 23, 2023. Do note that all submissions will be reviewed and are subject to approval.

If you are a Republic holder that is locked under the 12 month lockup OR a private round strategic holder under the 3 year lockup, the lockup contract will be canceled, FCD burned, and you will receive 55%+ in USDC sent directly to your wallet. There is no claims process required.

The primary recovery process will be open for 90 days. All USDC distribution will happen at once after the claims process is over.

Secondary Token Purchasers

If you purchased FCD via a secondary sale

• If you own FCD, e.g. purchased FCD via an exchange, you will have up to 90 days to recover your FCD for USDC on Polygon via the Penta Labs portal, starting on Monday, January 23, 2023. FCD recovered via the Penta Labs portal will be burned.
• This recovery will be set at a fixed price of $0.0226 per token based on the 30-day average price from 12/19/22 12am UTC to 1/18/23 12am UTC.
• This website will remain open for 90 days after launch.
• Visit fcd.gg for more information.

BEWARE OF SCAMS.

Penta Labs or FreshCut will never DM you to purchase FCD. The only official recovery site for secondary purchasers will be at fcd.gg — ALWAYS check the domain and verify before sending tokens. The only place to submit your recovery claims as a primary buyer will be the official form, which is not open yet.

Supplemental Information

The FreshCut company and its team has not received any cash or USDC remuneration from Penta Labs over the course of the partnership. FreshCut was responsible for investing multi-millions of its own separate resources in the partnership. The FreshCut company and its team will not be participating in the recovery process. The FreshCut team also has not received or sold any tokens since launch as their tokens have been under a one-year lockup, and their tokens will be burned without remuneration.

Future of FCD: Timeline & Key Dates

Future of FCD: Timeline & Key Dates

FreshCut and Penta Labs have delivered the following against roadmap to date during their partnership including but not limited to:

1. Integration of FCD token
2. Multi-platform (iOS+Android) proprietary, non-custodial mobile wallet
3. Robust and secure backend infrastructure to support a consumer facing web3 application
4. Discord bots for FCD and wallet related operations
5. eCommerce and merch powered by FCD
6. In-App Quest reward system featuring FCD
7. FCD tipping and monetization events for creators
8. Stream Alerts for FCD tipping
9. Analytics dashboard for creators including FCD support
10. Partnerships with creators and industry gaming events
11. Multiple gaming event campaigns including FreshCut Summer and Fall