Update on AVT Token Split

Update on AVT Token Split
Update on AVT Token Split

Last year, we issued a governance proposal to determine whether to split the current AVT tokens in circulation in order to increase total supply, and the degree to which they are split.

Voting closed on 30 December 2022. The proposal received approximately 1.3M votes in total, passing the 1M quorum, with the majority of votes in favour of the token split. 

Since the governance proposal passed, our team has been working hard to enact the results of the governance proposal. However, the nature of the token split means that we are reliant on a number of external parties, as stated in the original proposal. 

Enacting the split requires precise coordination between all parties, and without their response it cannot be achieved. Unfortunately, many of these parties are either not cooperating or are requesting significant fees to implement the split (likely due to the current economic climate and ongoing crypto winter, with many exchanges cutting resources). This means that, at this point in time, the token split is not possible. 

However, this does not mean that we will stop pursuing the token split – we are simply pausing for now and it is a priority of ours to revisit the token split in future. 

Transparency and decentralisation are key to the Aventus Network and the AVT community, which is why we put care and effort into ensuring processes like governance proposals are in place and honoured to the best of our ability. 

We apologise for the confusion and inconvenience caused. If you have any questions or concerns, please do not hesitate to reach out to us at info@aventus.io or via our Telegram channel.

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