SingularityDAO DynaSets: dynSING Withdrawal

Greetings Singularitarians,

You spoke, and we listened. Today we will be opening dynSING withdrawals. We originally planned to roll over to the new V1 contracts to enable you to select which token to redeem. Due to some unavoidable delays, for which we would like to take a moment to apologise to you all and thank you for your patience, the decision has been made to open withdrawals now, on the old contracts. This means that the withdrawal process will require an additional step, and we would remind everyone that V1, which will launch in the next few weeks, will be a far more user-friendly experience.

How to withdraw

Users with dynSING LP tokens will be able to withdraw on the SingularityDAO app and will be required to make two withdrawals, one for the SDAO tokens currently in the forge, and another transaction for the USDC tokens.

The number of tokens available for the user to withdraw represents their share of the DynaSet split between USDC and SDAO based on the final weight of dynSING.

Unbonded stake bonus

Alongside opening withdrawals, we will activate a staking APR boost of 50,000 SDAO tokens over the next 21 days on the Ethereum Unbonded Staking pool. We are doing so in part, to thank everyone for their patience during the roll-over and the delays that have come from it, and of course, to offer our users a place to put their newly released tokens, as all other bonded pools are currently full, with over 65% of our circulating supply now staked.

Updates incoming

Due to community feedback, we have decided to act quickly and open dynSING withdrawals, however, this should not be considered an indicator of further delays. Within the next few days, we will reach out to our community beta testers and offer them the opportunity to perform a final stress test of the platform before release.

Next week on Discord we will host an AMA with our trading team at which time they will reveal some of the dYdX DynaSet results over the past few months of testing, so start preparing your questions.

We are incredibly excited to show you all the work we have done over the past 6 months, so make sure to sign up to our social media channels to stay up to date on everything that is coming.

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