DROP (DROP)

Drop Wind-Down & Redemption Update

@dropdotmoney is shutting down. No TGE and no $DROP Airdrop.

Redemptions happen via force-unstake + burn your dAsset to redeem the native token (ATOM, TIA, NTRN, INIT) at the final exchange rate. No need to swap early.

Key Dates:

Feb 26:
▫️ Minting disabled (can’t create new dAssets)
▫️ Voluntary unstaking disabled (ahead of force-unstake)

Mar 2:
▫️ Underlying assets begin unstaking (ATOM / TIA / NTRN / INIT)
▫️ APR stops after this date (your dAssets still show in-wallet, but redemption rate stops increasing)

Mar 16:
▫️ dTIA claims open (instant claim via Drop site)

Mar 23:
▫️ dATOM / dNTRN / deINIT claims open (redeem via Drop site)

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Breaking: NO $DROP Airdrop, @dropdotmoney begins wind-down of its operations

🔸TGE / $DROP Airdrop: Canceled.
🔸Next steps: Exploring protocol revenue distribution to Droplets Program participants (TBD).
🔸Rationale: Market conditions; long-term Cosmos view unchanged.

Products
🔸 $dTIA & $deINIT: Sunsetting. Withdrawals open; clear timeline to be shared so users can exit safely before shutdown.
🔸 $dATOM & $dNTRN: In talks with partners to keep running; no action needed now. Users will get advance notice of any changes.

Sources: https://t.co/sYpo6K1hvm
https://t.co/XMMv9vZNmG

Just plain sucks. I don't know what "Market conditions" are being referred to here - I think this is just not having alignment with Cosmos and the pivot to institutional infra. But that's just me speculating.

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