Important Update: Tomorrow’s LIEN Token Initial FairSwap Listing will be postponed due to high volatility

Let’s get straight down to the why.

Turbulence in the market during the past few days has caused a spike in the ETH-USD price volatility.

The Lien protocol calculates annualized volatility of the ETH-USD price which is used to perform certain key functions, including the minting of iDOL.

As a stabilization mechanism, the Lien protocol limits minting activity when volatility exceeds 200%.

Volatility during the past few days exceeded 200% multiple times during the day, for prolonged periods of time.

This caused the stabilization mechanism to kick in and as a direct result, users of Lien Apps were not able to mint iDOL during that time.

Users that are interested in purchasing LIEN will need to use iDOL, but because the Mint iDOL function was released only 48 hours ago, right before the volatility spike, the current environment does not allow users to do so under safe and normal conditions.

We carefully weighed the importance of sticking to the planned schedule with the prudence of allowing users to participate under stable conditions.

The latter was more important than the former to us and this is why we decided to postpone the Initial FairSwap Listing of LIEN.

When is the new listing date?

As mentioned above, the ETH-USD volatility will need to come down from the current levels that we are seeing so users can safely mint iDOL.

Once the ETH-USD price volatility decreases to around 100% and stabilizes, we will consider proceeding with the Initial FairSwap Listing of the LIEN token.

We will announce the exact date and time of the listing at least 24 hours in advance through multiple channels so you will not miss it.

What happens to the iDOL that I have now?

iDOL is a stablecoin so you do not have to worry about the fiat value of the token deteriorating.

In fact, it might have done exactly what it was supposed to; protecting users from the decrease in the ETH-USD price during the past few days.

We consider the users that are holding iDOL now to be the true warriors who went head first into the winds of volatility and the pouring rain of high gas fees to acquire iDOL for the upcoming listing.

We will send LIEN to the users that have minted iDOL, used the tranche function, and converted ETH to iDOL on FairSwap since the Lien Apps were released, until the time this article goes live (block #10808790).

We appreciate your support and hope that you understand the decision that we made.