CORE is absorbing ENCORE
The CORE and ENCORE developer teams have reached a consensus regarding discussions to transfer Encore’s LP to CORE’s ecosystem.
ENCORE launched about a month ago with an unprecedented Liquidity Generation Event (LGE) of over 10,000 ETH. Since the LGE completion, participants received a diminished return due to a lack of trading volume. Many were unable to recover their principal. The ENCORE team believes the value for their LP holders grows more substantially and faster by joining CORE’s LP pools, which provide various arbitrage opportunities. Thanks to these innovative arbitrage pools, a guaranteed APY is achievable. Regardless of CORE’s price changes, APY pays all forced arbitrage pool stakers, a net win-win for ENCORE and CORE LP token holders.
The next steps of the transfer:
- All buys of ENCORE tokens on Uniswap end now.
- The CORE dev team will zap all ENCORE LP tokens into the upcoming DAI/CORE LP.
- All withdrawals from ENCORE’s vault end immediately.
- The CORE team detected a memory corruption within the ENCORE Vault contract while performing due diligence; we’ll make efforts to mitigate any
concerns before zapping liquidity out. - As liquidity migrates to the new CORE pair, all ENCORE tokens burn.
We strongly urge all ENCORE token holders to move their ENCORE tokens into the ENCORE Uniswap pool. We will dispose of all tokens once transferred to the new pool, and tokens sent after migration get reimbursed at the floor price.
We extend the same courtesy to all CORE forks with significant liquidity. Please direct any questions to the CORE team admins for further discussion.
💬 Join Us!
- Join the discussion in our Discord at https://discord.gg/hPUm9Jh & Telegram https://t.me/COREVault
- Don’t miss any update by following these Twitter accounts at @CORE_VAULT @x3devships @0xRevert @0xdec4f
