Stakin $STKN and Stakin Finance Announcement

Nov 23, 2021 1 min read
Stakin $STKN and Stakin Finance Announcement

Stakin announcement for $STKN and the Stakin Finance Platform. What will happen next?

Dear Stakin community members,

First of all, thank you for the support and encouragement that we have received over the last couple of years. Without you, we wouldn’t be able to continue the operations we have been doing thus far. We know it's our community that makes it possible to do what we do.

We’ve combined the results of a lengthy review and in-depth analysis of Stakin Finance and $STKN. We have concluded that we cannot spend the necessary resources to develop the platform and asset further. Therefore, effective immediately, we will discontinue the $STKN token until further notice.

In the coming weeks, we will shut down the Stakin Finance platform. In the first phase, it will not be possible to add liquidity anymore. In the second phase, we will stop maintaining and may stop hosting the interface. Most of the liquidity on that yield farming platform has already been withdrawn, and we advise the current remaining liquidity providers to withdraw their liquidity before the 1st of January 2022 as the user interface will not be maintained anymore after that date.

While we are discontinuing $STKN for the time being, we still hope that we will be able to reintroduce it somehow in the future, with improved utility and tokenomics. As a $STKN token holder, you may choose to keep or sell your tokens for the time being.

By discontinuing $STKN and Stakin Finance, Stakin will focus entirely on our networks and stakeholders to continue to deliver the best service possible. Moreover, we will also be introducing more services into our core infrastructure offering.

Thank you for your support and understanding. This change will allow us to bring more value to the networks on which we operate, and we look forward to continuing to work with you. Happy staking!

All the best,

The Stakin Team

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