Libero Bank to Libera Bank Migration Announcement

We are excited to inform you about the upcoming migration process from Libero Bank to Libera Bank. Please find the key details below:

Migration Duration: To ensure a smooth technical transition, the migration of Libero Bank will commence from July 06. This timeframe will allow us to meticulously plan and execute the migration process for a seamless transition to the Libera Bank.

Migration of Libero Bank to Libera Single Staking Bank: Your Libero in Libero Bank will be migrated to Libera in Libera Single Staking Bank, your xLibero will be converted to xLibera.

Lock-in Period: The existing lock-in period within Libero Bank will remain unchanged in Libera Bank.

Conversion Ratio: The conversion ratio for Libera tokens locked in the bank will be fixed based on the Libera/Libero ratio at 14:00 UTC June 29 2023. This conversion ratio will ensure a seamless transition of your holdings.

Migration Bonus: The ratio of migrated xLibera/Libera will be equivalent to your existing xLibero/Libero ratio.

For example, let’s say you have locked 1 million Libero in the Libero Bank for 4 years, and your current xLibero balance has increased to 1.2 million due to multiple lock extensions. Therefore, after migrating to the Libera Bank, your xLibera will be 1.2 times higher than the lock duration for newly locked Libera in the bank as usual.

After migration: Please go to Libera Single Staking Bank to manage your Libera. All other functions of Libero Bank such as claim pending Busd, Libero and Referral rewards will continue to work, but will receive no more rewards as no more trading volume will be generated from Libero. The Lock & Extend lock functions will also be stopped for you as you are migrated to Libero bank.

We appreciate your patience and understanding during this migration period. Thank you for your continued support and participation.

The Libero team