Altrucoin decided to transition away from it’s staking vault use case due to SEC concerns. To determine where to take the project next, a community proposal was created and voted. Based on popular vote in the Telegram, it was decided that Altrucoin would migrate to a Lendr Network token. Information about the proposal can be found here.
After allowing some time with the Altrucoin vault unlocked and the token fees reduced for users to decided if they would like to stay with the project or not, the Altrucoin token contract was paused. All remaining holders and stakers would be airdropped the new token and transitioned to the Lendr Network.
The Lendr Network began launching in August 2023. The first token launched, LendrR, is the token that previous Altrucoin holders and stakers are transition to, and around 30% of the total supply of the LendrR token was reserved for Altrucoin.
If you held Altrucoin, you do not need to do anything to receive your new LendrR tokens. The tokens were automatically airdropped to all holders and stakers wallets.
As outlined in the community-voted plan, the new tokens are locked and vested after launch for a period between 1-3 months. This lock period was to ensure that new Lendr holders are not discouraged from a large portion of the total supply already being held. The tokens were airdropped on the schedule as follows:
– 1/3 tokens on Sept. 8th, 2023
– 1/3 tokens on Oct. 8th, 2023
– 1/3 tokens on Nov. 8th, 2023
To be able to interact and see your new tokens, you will need to add the LendrR token contract address to your wallet.
LendrR – 0xD773affB89F9dbEf8b1bcd2003a9De421F979416