TechFlow News — LSD stablecoin protocol Lybra Finance has announced, based on Proposal 1 from the Lybra DAO, that esLBR holders have voted to extend the migration deadline for V1 LBR tokens by three months, until January 16, 2024, 21:00 Beijing time.
Starting from 21:00 on October 16, existing V1 LBR token holders can begin migrating their tokens to V2 esLBR. A 3% migration fee will be charged during the process, which will be distributed weekly to esLBR token holders, with the first distribution scheduled for October 23. Further details will be released on October 16.
Prior to this, Lybra Finance had proposed a community proposal regarding V1 tokens that have not migrated to V2, including the following options:
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Allow V1 LBR token holders to migrate to V2 with a 3% migration fee, extend the deadline by three months, and recommend converting the collected migration fees (61,979.01 LBR) into USDC to be distributed to V2 esLBR token holders.
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Allow V1 LBR token holders to migrate to V2 with a 20% migration fee, extend the deadline by three months, and burn the migration fees collected.
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Remove 2,065,967 LBR tokens from circulation if they are not migrated from V1 to V2 before the deadline.
