Piero’s Statue Update

Greetings Researchers,

We hope this message finds you well. We have an important announcement regarding the Piero’s Statue Liquidity Offerings that require your attention.

Considering both on-chain and ecosystem activity in the last couple of months, we are rethinking the emissions mechanics for Piero’s LPs in order to maintain a stable price dynamic and healthy tokenomics.

Emissions

Thus, we have decided to reduce the emissions of new CRX tokens by ~80%. This measure aims to maintain the value and sustainability of the token while providing a more controlled distribution.

This process will happen by sunsetting all pools, except for ETH-CRX. Practically, the pools will remain open, but with an APR of 0. Thus they will generate no emissions from that moment onwards.

Also, the ETH-CRX pool may see its emissions reduced by a certain amount.

CRX Total Supply

Having a circulating supply of approximately 3.5 million tokens (including locked tokens and other forms of CRX) and around 1.1 million tokens yet to be issued by Piero according to the new scheme, the total supply of CRX will reach approximately 4.6 million tokens.

These changes will begin to take effect very soon and we will communicate the exact numbers when this happens.

Course of action

For liquidity providers there are two options moving forward:

1. Claim your CRX rewards from the sunsetted pools, and eventually migrate your funds to the ETH-CRX pool.
   Note: The claim function will work the same, with part unlocked and part locked rewards that will unlock based on the normal vesting schedule.
2. Keep your liquidity in the pools and claim at the 50th epoch to unlock all CRX.
   Note: While the sunsetted pools will disappear at some point from the MIND Games web interface, you will still be able to claim your rewards from the pools’ contracts.

For convenience, here are the contract addresses of all our LPs:

• CRX-WETH: 0xd75528908c0981b92758aD6cE7d18C0Dd163f8ae
• CRX-WBTC: 0x33521cfD2ba909faBC6415C92e98dadDefA70e94
• CRX-GMX: 0x99F5a9dBdaf7F0946DC0879a9824c812048667bc
• CRX-USDC: 0xf7305d209bfecf40bd53ccbdbe5303b3153d0660
• CRX-USDT: 0xD0C193a87C0D91b3f6e03aF123C4887A84fE429e
• ARB-WETH: 0x7a3f1d1a6632a997c5e87d182c295d640742f53d
• WETH-USDC: 0x784fcf7f9a94c82c72bbf723a5412a080db31e45

We kindly ask you to take note of these updates and adjust your strategies accordingly.

If you have any questions or need further clarification, please do not hesitate to reach out to our team on Discord. We appreciate your understanding and cooperation as we continue to optimize our ecosystem.