Dear Crescent, Agoric, and Inter Protocol Communities,
We would like to address an issue concerning the recent extension of incentives on four pools on Crescent, including IST. Due to a miscalculation by the sender, and a miss on oversight, the incentives announced were inadvertently set at a larger than intended amount! We acknowledge this mistake and sincerely apologize for any confusion or disappointment this may have caused.
As soon as we identified the issue, our teams, together with validators, promptly implemented a hotfix to rectify the situation. Currently halted, but the BLD private farming plans will resume as planned very shortly after being amended.
We understand that the reduction from the initial announcement may cause disappointment, and for this, we extend our deepest apologies. We wish to assure you that this was an unintentional oversight. The Crescent Foundation, DCF, and Inter Protocol teams did not intend for this situation to occur and we take full responsibility.
Our primary commitment is to serve and benefit our users across all communities. We assure you that we are working diligently to prevent such errors in the future and are committed to enhancing our protocols and joint partnership to ensure the utmost accuracy in all our operations.
We appreciate your understanding and your continued trust in us. Your support is crucial to our growth and we remain dedicated to providing the highest level of service to our valued users.
Once this is unwound, incentives will be renewed and the Crescent Foundation will propose an increase in incentivization in the affected pools to allow more attractive rewards for liquidity providers in light of this situation.
Thank you for your patience and support.
Crescent Foundation and DCF