Jenkin's Snapshot Update: Bored & Dangerous Licensing Funds
Jenkins The Valet will offer an alternative to those unwilling to KYC for Bored & Dangerous licensing claims when the claim opens in April.
- Snapshot for B&D licensing funds on Friday, March 31 at noon ET.
- Fund claiming goes live in April.
- Option to waive funds and receive an equivalent refund during Azur Root minting for those that don't want to KYC.
The snapshot is scheduled for Friday, March 31 at noon ET and will capture wallets holding licensed Writers Room NFTs or licensed BAYC/MAYC NFTs. Wallets recorded during the snapshot will be able to claim funds in April so long as they are willing to undergo a Know-Your-Customer (KYC) process. The KYC process is essential to ensure the legal standing of the community.
For those who participate in the snapshot but choose not to undergo the KYC process, an alternative solution is available. Wallet holders can waive their claim to the funds in exchange for an equivalent refund during the Azur Root minting. Wallets that waive their claims will be recorded, and they will be refunded by the same dollar amount that they waive during the April window.
For example, if a wallet holder waives $100 in licensing funds (equivalent to 0.06 ETH), they would spend 0.08 ETH on the day of the Azur Root mint and receive a refund of 0.06 ETH, resulting in a net price of 0.02 ETH for their Azur Root NFT.
❗Why It Matters
This snapshot update, along with the option to waive funds for an equivalent refund on Azur Root minting, provides flexibility and choice for NFT holders in the B&D licensing funds collection process. It allows users to decide whether they want to participate in the KYC process or not, respecting their privacy preferences. This approach may set a precedent for future blockchain and NFT initiatives, potentially paving the way for more user-friendly and accommodating processes in the crypto and NFT ecosystems.
🎬 Take Action
If you hold a licensed WR NFT or BAYC/MAYC NFT, ensure your wallet is ready for the snapshot on Friday, March 31 at noon ET. Stay tuned for further information regarding the KYC process and mechanics for the refund.
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