The election of the initial Threshold Council (NU snapshot, KEEP snapshot) is complete, the NuCypher DAO proposal to halt NU inflation has passed, the T token and NU/KEEP=>T vending machine contracts are deployed, and the Threshold Council multisig has minted the initial T supply and funded the vending machines.
The Threshold Network is born! Happy NU year!
As decided by the NU and KEEP communities in the final merge proposal, the conversion ratio for each token is based on the total supply rather than price. The final total supply of NU is ~1,380,688,920 and the total supply of KEEP is ~940,795,010. As a result, the token factors are 1NU:~3.26T and 1KEEP:~4.78T.
[Once the vending machine contracts used for the merge are funded by the Threshold Council, token holders will be able to upgrade to T by following the documentation here. If you're an early tester and want to upgrade your NU and/or KEEP into T while the official Threshold UI is being finalized, you can do so on the temporary UI here: https://stake.nucypher.network/wrap] UPDATE: Holders of KEEP and NU work tokens can upgrade them to T via the Threshold dashboard: https://dashboard.threshold.network/overview/network
The vending machine contracts, with static conversion ratios, will be available to NU and KEEP holders indefinitely. There is no time pressure or disadvantage in waiting to upgrade NU/KEEP into T, so please be safe, take your time, and confirm everything!
As a reminder, existing NU and KEEP stakers will not be able to use the vending machine contracts until their stakes unlock and become liquid. Rather, they will be grandfathered into Threshold via special staking adapters. Once the T staking contract is deployed, next steps for existing stakers will be shared. For NU stakers, it is optional and not required to run a worker node until further instructions for T staking are shared.
Key Details
- T token contract address: 0xCdF7028ceAB81fA0C6971208e83fa7872994beE5
- NU<>T vending machine contract address: 0x1CCA7E410eE41739792eA0A24e00349Dd247680e
- KEEP<>T vending machine contract address: 0xE47c80e8c23f6B4A1aE41c34837a0599D5D16bb0
- NU conversion factor: ~3.26T
- KEEP conversion factor: ~4.78T
- NU token contract: 0x4fE83213D56308330EC302a8BD641f1d0113A4Cc
- KEEP token contract: 0x85eee30c52b0b379b046fb0f85f4f3dc3009afec
- Threshold Council multisig: 0x9F6e831c8F8939DC0C830C6e492e7cEf4f9C2F5f
- Threshold brand assets
T Supply Details
- 10B initial supply
- 4.5B allocated to NU holders
- 4.5B allocated to KEEP holders
- 1B allocated to Threshold DAO
Questions? Join the Threshold community on Discord or Telegram!
