Waves Protocol
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Waves Protocol

Collective Farm Liquidation

In the past few months, Waves Ducks has come through major changes, which caused some of the collective farms going either into a “power saving mode” or fully inactive. Seeking to restore the collective farming aspect of the game to its former glory, we need to clear the space and decide, which of the farms should be demolished, so to speak.

As requested by the community, we are initiating the process of collective farm liquidation. Knowing that many of our players are heavily invested into collective farms, the liquidation will take place in an orderly manner, with the verdict being completely up to the community. The fate of each collective farm will be decided by a vote, with farms nominated one by one.

Voting rules

  • Votings will take place at waves-dapp.com. You will have to vote for or against the liquidation in the “voteToLiquidate” section.
  • Players will be able to vote only with the respective CF tokens in staking.
  • Each vote will last for 10 000 blocks.
  • There will be a quorum, meaning that the vote is considered valid only if it reaches a 35% participation rate among the farm’s token holders. Otherwise, the farm in question will be locked and liquidated.

CF tokens refund

Naturally, collective farm token holders will be compensated in case their farm is eliminated. If the liquidation vote passes or the quorum is not reached, players will be able to request a refund in vEGG. The rates are as follows:

  • For those who voted: 1CF token = 1 vEGG
  • For those who did not vote or didn’t have any CF tokens in staking: 1CF token = 0.7 vEGG

The first vote has already started for BlackTurtle Farm to make sure the process is running smoothly. The starting point is at block 3284293, 10 000 blocks from that, the vote will be concluded. The BTF vote is available via this link.

Remember to join the Waves Ducks group and subscribe to the Waves Duck’s Twitter!

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Waves Tech

Waves Tech

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Waves Tech is a powerful blockchain-agnostic ecosystem focused on inter-chain DeFi, the embodiment of technological freedom for blockchain-based finance.