Dear Krillionaires,
Recently we successfully launched our Krill pool. It has been a great success, and we are happy to see that close to 20M USD has been locked so far.
At the same time, we adjusted the YLD farming rewards because it was unreasonably high. We admittedly slipped up with the communication of the adjustment in advance.
People had paid a 4% fee to enter the pool with the expectations of higher yield for a longer period, which understandably can be frustrating. We apologize for the lack of communication.
We took immediate action minutes later and created a form, enabling refunds to all those who paid the 4% fee before the change. In other words, YLD stakers (who were in one of the most profitable farms), got to keep their rewards and also get the 4% fee back.
We are currently processing all the staking fee refunds. The YLD pool will be closed for new deposits until further notice. Stay tuned for updates regarding the YLD pool.
We just wanted to be transparent and tell you it was an honest mistake on our part — which is why we made this post. We will be extra cautious with our communication with all updates going forward.
We hope this refund of staking fees was fair as compensation for the inconvenience.
Thank you all for your feedback and support. Let us know if you have any questions.
Sincerely,
The Polywhale Team
