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ApolloX DAO's proposal to add the APX unlock function to the DAO system has passed.

ApolloX

Dear ApolloX Users,

 

The proposal created on 24th August 2022 on Snapshot to add the APX unlock function to the DAO system has passed with 4,297,570.89 Power for a minimum penalty ratio of 30%.

 

Here’s how the proposal will be implemented:

 

  • On September 02, 2022, the APX unlock function will be added to the DAO system. On the Lock APX page, users can unlock the locked aggregated veNFT in advance.
  • Kindly note that the user needs to pay a penalty fee for unlocking in advance. The specific calculation method of the penalty fee is as follows:

 

Penalty Fee=unlockAmount* max(30%,min(50%,lock_duration_left /4 years* 100%))

unlockAmount

Amount of APX unlocked in advance

minRatio%

Minimum unlock Penalty Ratio，30%

maxRatio%

Maximium unlock Penalty Ratio，50%

lock_duration_left

Remaining unlock time, accurate to the second
  • The penalty fees collected will be transferred to the DAO reward pool address and distributed to users who have locked APX in that current cycle;
  • Please note that users cannot unlock only a portion of tokens from veNFT. Activating the unlock function will unlock all tokens.

 

For more information on DAO:

Thank you for your support!

Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of ApolloX.

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