Incorrect APRs on new Advanced Staking Feature
- Funds are safe
- APY numbers will be fixed
- Those who locked UNIC already will be airdropped to cover gas fees
Hello Unicly community. Recently we announced and released a new locking mechanism that would reward members who stuck with us for the long term.
In the past few days, it has come to our attention that our APR calculations were off. Due to the contract’s design, the simple formula we have is quite inaccurate. It was never our intention to mislead the community, and for that, we are truly sorry. Our developers are working around the clock to figure out how to best fix this ASAP.
In the meantime, we wanted to make it up to you all. We will be airdropping 1.5 UNIC to every person who locked their xUNIC prior to this announcement being posted. This should cover any gas fees that you may have saved if you had opted to not lock the xUNIC into advanced staking.
Unfortunately, it is difficult to reward the full APR numbers that were shown at the moment users locked. This would amount to an extremely high number of UNIC that dilutes everyone out. As more people stake, yield is shared among stakers. We will make this clearer on the site.
We know we can’t redo the mistake that was made, but we hope this helps restore some faith in the dev team.
Thank you everybody for your continued support,