OverFlex App Update Notice

📢 OverFlex App Update Notice

This update includes changes to swap and pool staking features and adjustments to DAO Treasury distribution. Please read the details below and make sure to update to the latest version for the best experience.

🔄 Swap and Liquidity Changes

  • Swap Feature Disabled
    • The in-app swap feature on OverFlex will be temporarily disabled.
    • 👉 Alternative: Use Explore tab > Izumi Swap to make swaps.
  • Pool Staking Disabled
    • The Pool Staking feature will be disabled, and OVER-USDT liquidity will migrate to Izumi.
  • 👉 Note: Users who provided OVER-USDT liquidity should unstake their LP tokens and migrate to Izumi.
  • 👉 Note: Withdrawals from Pool Staking are still available as usual.

🌱 Palm Staking Update

  • Unstaking Period Change
    • Before: Unstaking takes 21 days before withdrawal
    • After: Unstaking takes 3 days before withdrawal
    • The unstaking period is now shorter based on community feedback.

🏛 DAO Treasury Distribution Change

DAO Treasury is used to support ecosystem growth, including new dApp development, network improvements, and user education campaigns. It also receives income from transaction fees and network rewards, providing stable funding for long-term growth.

Currently, 10 million OVER per year is fully distributed to Palm Staking. However, to improve liquidity efficiency in the OVER ecosystem, the DAO Treasury distribution ratio will be temporarily adjusted.

🔄 Palm Staking Distribution Adjustment

  • Before: 10 million OVER for Palm Staking
  • After:
    • Palm Staking: 4 million OVER
    • Izumi Liquidity Rewards: 6 million OVER

This adjustment aims to improve liquidity efficiency and enhance user experience and stable liquidity through partnership with Izumi.

⏰ Effective Date

  • After Izumi Farm Update (Exact date will be announced later)

🚨 Important Notes

  • Older versions will not support Swap and Pool Staking features.
  • 👉 Update to the latest version to keep using OverFlex smoothly.

This update is part of our effort to expand the OverProtocol ecosystem and improve liquidity efficiency. We appreciate your continuous support and feedback, and we are committed to providing better services. 🚀

Thank you.