Announcement: TRICK to merge into TREAT (Not the Official Token)
Following extensive discussions, $TRICK will convert to $TREAT and merge into a single token. Please note that this is not the official Lnfi Token.
This merger is aimed at improving the liquidity of the trading pair TREAT/SATS on P2P Marketplace and launching the TREAT-Margined perpetual contracts, following the successful launch of BURGER-Margined perpetual contracts.
The merge event will take place automatically on 14 Nov 2024, without any manual action required from users. Each user’s TRICK holdings will be calculated and automatically distributed an equivalent amount of TREAT based on these holdings.
TRICK Holdings Calculation:
Available Balance + Frozen Amounts from Active Marketplace Listings + Unclaimed Principal from Lock Assets + Other Occupied Amounts.
Please refer to the following timeline for the respective affected functions during this conversion merge:
*All timings based on UTC+8
Transfer
13 Nov 10 AM onwards:
- The transfer function for $TRICK will be disabled.
P2P Marketplace
7 Nov 10 AM onwards:
- Creating new listings for $TRICK disabled.
- $TRICK trading will be suspended (BUY/SELL)
13 Nov 10 AM onwards:
- Sell Listing for $TRICK will not be allowed to be canceled.
- Canceling Buy Listing will still be allowed (Users can withdraw their Buy Listings at any time to reclaim their SATS)
- $TRICK will be delisted from the P2P Marketplace.
*We urge users to promptly cancel and remove their $TRICK listings from the P2P Marketplace.
14 Nov onwards:
- Calculate the user’s available $TRICK balance, the frozen amount on Listings.
Lock Assets
13 Nov 10 AM onwards:
- Temporarily disable the Unlock function for all assets. (will resume on 14 Nov)
14 Nov onwards:
- Calculate the $TRICK principal amount and rewards in Lock Assets that are pending maturity. The principal and rewards will be distributed in $TREAT according to the maturity dates set by the users.
Assets Dashboard
13 Nov onwards:
- The Assets page will show TRICK as usual, with a note stating it has been converted to TREAT.
- A Google Doc will be provided for users to view their holdings data before the conversion.
Others
13 Nov onwards:
- LN Starter, LN Gift, LN Node, and other tools that accept TRICK as a payment method will discontinue their use.
- Some of the content displaying TRICK on the page will be deleted or annotated
TREAT Distribution
14 Nov:
- Distribute TREAT (converted TRICK) to users
Future Official Lnfi Token Swap
The future official Lnfi Token swap will disregard TRICK and will consider only the circulating amount of TREAT for conversion into the official Lnfi Token. Further details will be shared in due time.
We encourage users to familiarize themselves with the timeline of changes, which outlines the temporary disabling of certain functions along with the processes for calculating and distributing holdings. Your continued support and engagement are invaluable as we move forward with this exciting development.
We understand your eagerness to find out the exact launch date for $TREAT perpetual contracts. While we are currently in the preparation phase, we will share more details as soon as the merge event is complete.
If you have any questions or need further assistance, please feel free to reach out to our support team on Telegram (https://t.me/lnfinetwork). Thank you for being an essential part of this journey!
