REVV Motorsport Team rewards long term supporters
Racepass and REVV Motorsport NFT holders get ready!
UPDATE: Last burn date and sign up date for the pool has been extended to November 25 (from November 15), 2023.
Greetings racers! We hope some of you have been enjoying the Formula E: High Voltage launch! If you are not on the tracks yet, you can start playing here: www.formulaehighvoltage.com
As we step into an exciting future for the REVV Ecosystem, we would like to address some past items, and announce more information around the following:
- The 20 million REVV pool for Race Passes
- An update for those who had missed the burn deadline
- A new opportunity to burn some remaining car/event segment assets
- Future plans for the REVV Motorsport vouchers
Race Pass Staking - 20 Million REVV Pool
In May 2022, we announced an asset swap program that allowed our players to swap some of their existing car NFTs for new Race Pass tokens. As part of this asset swap, the Race Passes were eligible for a 20 million REVV staking pool.
To make things easier for our players, we have decided to distribute the 20 million REVV tokens that were part of the asset swap directly to all of our Race Pass holders.
To be eligible you have to meet the following criteria:
- Your wallet was part of a snapshot of all Race Pass holders that was taken on August 21, 2023
- You have to sign up for the drop via this form before November 25, 2023 (extended from November 15, 2023)
After submitting, you can view this spreadsheet to make sure your submission has been recorded: REVV Airdrop Wallets Recorded
Once we have closed the sign up deadline, we will use Superfluid to stream each recipient’s share of REVV over a 12 month period. Recipients will be able to claim their already streamed share of REVV at any point in time via the Superfluid UI. For example, after 6 months of streaming you can claim 50% of your REVV (more info here).
Addressing late participation - Additional REVV pool
After our asset swap program ended, we became aware that some community members had missed the deadline due to a misunderstanding - 8 wallets in total were affected. In order to look after our community, REVV Motorsport will issue the relevant vouchers and race passes for the assets that were burned late.
To ensure fairness and prevent disadvantages to those who complied with the initial deadline, the Race Passes issued in this late burn correction, will not be eligible for the 20 million pool of REVV tokens. Instead, a dedicated additional REVV pool will be established, containing an amount of REVV equivalent to what these race passes would have earned from the 20 million pool had they been part of it. Again, the rewards will be distributed to the recipients of the Race Passes via Superfluid.
A new opportunity to burn remaining car/event segment assets
As a gesture of additional goodwill, a limited one-month swapping opportunity will be provided to send remaining car and event segment assets ONLY to the burn address. Users will receive Race Passes and Circuit Vouchers in exchange for these assets.
This fantastic opportunity is available starting from October 25th, 2023, at 00:00 UTC and will run until November 25th, 2023, at 23:59 UTC. (extended from November 15, 2023)
The burn address is:
0x12e6265a96b75711F7c743BC58925e181031c792
Race Passes issued in this burn window will not be eligible for the 20 million pool of REVV tokens. Instead, a dedicated additional pool of REVV will be established, containing an amount of REVV equivalent to what these race passes would have earned from the 20 million pool had they been part of it. Rewards will be distributed to the recipients of the Race Passes via Superfluid.
Part/Gear, Tire and Driver Vouchers
As part of the earlier swap we also offered our players an opportunity to swap their drivers, cars and car Part/Gear NFTs into new REVV Motorsport vouchers. We are excited to announce that going forward we plan to offer holders an opportunity to redeem these vouchers in many different REVV Motorsport mints on the Polygon network, giving you access to multitude of gaming experiences and trading opportunities.
As vouchers come in many different forms, each asset type and rarity combination will be assigned a distinct USD value. This applies for all Part/Gear, Tire, and Driver vouchers.
We are still working out the details of this mechanic, and will provide additional context in a future update.
Outstanding items
While we are very excited to bring today’s news to our community, our team is aware these were not the only pending items in our to do list.
To set your mind at ease, we are also working to provide update on the following items:
- Key Sale - Apex SHARD issuance towards the amount of REVV deposited
- Circuit Voucher - Further utility of an interoperable component
- REVV Undone Watch Vouchers - REVV Redemption
- Trophies - Mint and distribution of outstanding trophies
- APEX REVV Racing cars for holders of former title’s APEX cars
Any questions, give us a shout!
You can find out more about REVV Token, and REVV Motorsport platform at our official channels. Did we leave anything out or do you have any burning questions, please reach out to us for any feedback or comments!
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