As you know KoalaDefi is in a hard place like a lot of other early defi projects and has been having development problems for some time now.
The past couple of months the project has been struggling to keep its head above the water, but with the energy from our fantastic community and koalafied team we created plans to get back up and give it our all.
Unfortunately things don’t always go as planned…
To be able to speed up the development and launches of new features, the rights to the hosting and servers were transferred within the team to another developer. Soon after this transfer the developer unfortunately disappeared for weeks leaving the team in the dark.
After finally getting in contact a little over a week ago, we found out he has decided to stop as developer of the project.
We’ve been discussing the future of KoalaDefi over and over within the team. We’ve been looking for solutions and alternatives but despite hours of brainstorming and talking we no longer have the feeling that we can offer the safe and secure platform KoalaDefi always was and is supposed to be, nor do we have the funds to start over with new developers.
In the current market and in the platforms current state it would need a miracle for KoalaDefi to recover, we consider it irresponsible to continue the project in regards to our investors and giving false hope on a speedy recovery or launch another presale in an uncertain market for a project that has already been struggling.
To end the project properly we will set the emission of Nalis token to zero at the moment this statement gets published, meaning there will no longer be any staking rewards on Koala Defi.
The remaining funds in the deposit fee- and dev-wallets will be used to airdrop everybody that stayed with the project until the end. A part will be used as a final thank you to our loyal team members that have voluntary been working their asses off to safe the project despite not receiving any payment.
To be eligible for this final airdrop, make sure to unstake your Nalis and Lyptus tokens / LP pairs. Make sure to break your LP pair(s) so you have Nalis and/or Lyptus in your wallet on either BSC or Polygon.
On Monday the 28th of February around 2pm UTC a holders snapshot will be taken, a couple of days later the remaining funds will automatically get airdropped to your wallet in either BUSD or USDT stablecoins. The minimum amount of tokens in your wallet to be eligible for the airdrop has to be $0,50 because of gas fees.
We are looking for a platform to give the NFK collection a second life, however after the brief moment of contact with the developer, we haven’t heard back from him and can’t make any promises at this moment.
We have asked the developer to keep the platform online for at least another 2 months with the emission set to zero so everybody can unstake their tokens.
Right after the snapshot, the team will burn the remaining Lyptus and Nalis tokens from the team wallets (currently about 2M Nalis on Polygon, a little under 1M on BSC plus about 45.000 Lyptus tokens that have been retrieved from partners).
We would like to thank everybody that has supported the project, our jungletastic friends over at Apeswap and all the other fantastic projects we had a chance to partner with, it was a blast!