Ether Adjusts Mint, Royalty Rates
Ether adjusted its mint structure, promising a one-to-one airdrop for current holders, a fair price Dutch auction, and an increase in royalty rates from 5% to 7.5%.
The Deets
- Current holders will receive 1 free Ether Capsule per Ether Capsule held in an airdrop.
- The airdrop will exclude Ether Capsules purchased after the announcement.
- A Fair Dutch Auction for the remaining supply is scheduled for 1:00 p.m. ET on July 12.
- Manual reveal opens at 11:00 a.m. ET on July 12.
- Royalty rates will increase to 7.5% to offset the impact of changes in funding.
The Bulk
Ether made a bold announcement to adjust its mint structure. Current holders of Ether Capsules are slated to receive a one-to-one airdrop, while a fair Dutch auction will be held for the reamingin supply.
This airdrop, however, won't extend to Ether Capsules purchased post the announcement, supporting only early holders or minters. The scheduled airdrops will occur at 10:30 a.m. today, July 12.
For the remaining supply, Ether is hosting a fair Dutch auction expected to take place around 1:00 p.m. ET today.
To offset the financial implications of these significant changes, Ether is bumping up the royalty rates from 5% to 7.5%.
In addition to the mint changes, users will have the opportunity to trigger a manual reveal starting at 11:00 a.m ET on July 12.
🎤 Project Prose
In order to offset the impact of such a drastic change in funding, we are increasing the royalties from 5% to 7.5%. We understand the implications of this decision for holders, but adapting is necessary so Ether can be well-funded enough to complete its long-term vision.Ether
🔜 What's Next?
Ether Capsules holders and interested community members should look out for their airdrop and the fair Dutch Auction scheduled for later today. Formal details about the auction will be announced closer to the event.
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