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The AmpleSense DAO will be sunset and activities will transition to the Elastic Protocol and the Elastic Finance DAO.

Overview

  • The AmpleSense DAO will sunset and a new DAO and protocol will be launched focusing on accelerating the growing Elastic Finance ecosystem. The new DAO will be called Elastic Finance DAO (EFDAO) and the protocol, Elastic Protocol.
  • Funding for the launch of the new protocol and DAO will be secured via different routes ending with an Initial DEX Offering (IDO). This IDO is scheduled for Q4 2022.
  • The foundation of the new protocol will be the existing Elastic Vault smart contracts. Contracts will be upgraded to provide additional functionality/address certain issues with depositing economics and build out initial strategies connected to “Real Yield” platforms. These vault upgrades and re-deployment will be supported using IDO funds.
  • Current community members/holders of the kMPL and EEFI tokens will be eligible to receive the DAO’s new token (Elastic Finance Token (EFT)) and v2 of the EEFI token. Tokens will have a cliff and vest over a period of time rather than be available immediately upon launch. However, IDO participants will be fully unlocked at launch.

Read More: Please read the full text of this announcement at the Elastic Finance Medium by clicking here.

AmpleSense DAO web properties, social platforms, including the Community Hub, will be discontinued over the next few weeks.

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