Got it. Thank you!
One last query: given that during the split there might unfold a situation where NCTH or perhaps NFTX would hold non-integer values of certain highly-priced fractionalised NFTs, would the DAO be willing to work w/ the elected representatives of NCTH via OTC transactions and/or redemptions to ensure best value for both treasuries?
No problem
Yeah, for certain unique assets, PNW will certainly try to achieve the fairest result for both PNW and the NCTHs, including by communicating with the Selected Persons on potential methods for splitting these assets.
Hi Chop and PNW representatives,
We are pleased to inform you that we have successfully fulfilled our side of the migration requirements for both the FLOOR and NFTX tokens.
We have paused the migration contracts for FLOOR and NFTX, and as part of this process, we withdrew all the tokens in these contracts and sent them to the burn address. The transactions can be verified through the following links:
Each migrated token holder received a receipt token (fNFTX / fFLOOR) upon exchanging their tokens. These receipt tokens represent their claims on the pro-rata treasuries that we will receive from NFTX and FLOOR.
The next step as agreed involves a waiting period of 45 days before we receive the treasury assets from PNW. During this period, we will work closely with PNW representatives (would that be you, Chop?) to confirm and clarify the exact pro-rata share of the treasury assets we will custody. We will also ensure that our community remains well-informed of any developments throughout this process.
Thank you for your cooperation and support. We look forward to a smooth and successful completion of this migration process.
Best regards,
Potato
Gm Potato,
Thanks for the clear rundown!
I’ve just DM’d you on Discord for the follow-up steps. Let me know if anything is unclear.
Thanks,
Chop