Hi all,.
26 Oct 2022, 17:03
Hi all,
As previously discussed, we will continue to evaluate reductions to the JADE floor price based on the programmatic inflation coming from the SMRTr bonding event. Our goal is to ensure that bonders who are on long term vesting schedules are protected in the event of a bank run.
As of November 1st, 2022, the floor price for JADE (on BSC and AVAX) will be adjusted to $15.13.
We will continue to give at least 7 days notice before any floor reductions, as we want to give everyone sufficient notice to redeem if they would like. The redeem contracts have both been topped up in anticipation of the floor price reduction.
These decisions are not taken lightly and are made weighing the interests of different constituencies and the long term interests of the protocol.