11.15.22 — A Bittersweet Farewell, AngeL Dissolves
Greetings Helenians, today’s article doesn’t revolve around Helena, but rather about Nemesis’ Node project, AngeL’s dissolution decided by the DAO.
Since the launch of AngeL Nodes, we’ve received so much love and positive feedback from our community and investors. Node projects were popular back then and we wanted our dedicated community to benefit from them within our ecosystem as well as to pull new investors. Unfortunately, due to the unsustainable nature of node projects, it became more and more of a struggle for us to keep it going. We wanted this dissolve to be as smooth and honest as possible. Consequently, we held a DAO vote regarding the fate of AngeL nodes, and you decided.
What caused this downtrend?
As Node projects were experimental, there was more than one reason which kept them from being sustainable. Maintenance fees consumed large amounts of BNBs for payouts. Constant pressure on the price stemming from the unlimited nodes combined with the unsustainable return models set the stage for today’s DAO vote.
Our decision-making period
As we worked on finding a solution to the problem, we observed our competitors’ struggle with it as well.
During this time, as we evaluated the possibilities and alternatives, we left disappointed in the face of reality as there wasn’t any working or fair system to merge. In conclusion, we decided to offer our community a proposal to merge AngeL nodes with Helena’s upcoming NFT Zone but, the community rejected the merge proposal and went with the ragequit option, which we respect since you were with us from the beginning, and it was your right to want your investment back.
Node holders got airdropped Angel Migration Points (AMP) per their node holdings, which will be used for claiming the refunds.
Dissolve process has 2 options the investors can proceed with. Holders can choose to get their refunds either by BNB or HELENA. You’ll also get a +35% bonus if you proceed with the Helena option, avoiding the buy tax by doing so. Thus, your bonus amount will roughly total around 50% and the conversions will be made according to the Helena/BNB parity at the time of your airdrop. We’ll also be sending the equivalent amount of BNB to the Helena buyback wallet in correlation with the funds distributed as HELENA in order not to cause hyperinflation.
Calculation formula for your refund amount:
(YOUR MP / 142,995) x 950 BNB
How to Claim Your Share
First of all, in order to receive your part, please add AngeL Migration Point token address to your wallets: “0x6bA7e14c9E345e15F01f3a207BBDDEFC4164dd6F”
1️⃣ If you would like to receive BNB as a form of refund, send all of your AMP tokens to the following address:
2️⃣ If you would like to receive HELENA (+35% Bonus) as a form refund, send all of your AMP tokens to the following address:
On December 1st, all remaining Angel Holdings will be transferred to Nemesis Treasury and will be reserved for future claims. There will be no deadline for refund claims so even if you see this message a year later you will still be able to claim your part by executing the steps above. Also, all of the node owner addresses that have 10 MP or more will be whitelisted for future Nemesis Network offerings.
AngeL — FAQs
- What does MP mean?
- What is AMP?
- How to check my Migration Points?
- How are node owners’ Migration Points calculated?
- How long does it take to get BNB / Helena after sending my AMP tokens to the address given in the announcement?
- Where should I send my AMP tokens to receive BNB as a refund?
- Where should I send my AMP tokens to receive Helena as a refund?
- If I would like to receive HELENA as a form refund, how much bonus can I get?
- What will happen to the Angel nodes?
- I can’t add the Migration Points to the wallet because I don’t have the required information: Name, Symbol, and Decimal. How can I reach this information?
- After I have sent my AMP tokens to the address specified in the announcement, is the process done manually or automatically? Is there anything else I need to do after sending the AMP tokens?
1. Every node owner received Angel Migration Points (AMP) in correlation with their Migration Points (MP) which were calculated per node holdings.
2. Angel Migration Point (AMP) is the token to be used by holders to get their refunds.
3. Search for your address in this document: https://docs.google.com/spreadsheets/d/18n44cAdxncIntHD1X3agSHn-MQnhEcG7vEmQlxj1NK0/edit?usp=sharing
4. Migration Points (MP) were calculated as:
Angel Node: 2 Migration Points
Dark Angel Node: 6 Migration Points
Helena Node: 7 Migration Points
Arch Angel Node: 11 Migration Points
Nemesis Node: 13 Migration Points
5. Refunds are being carried out in batches every day.
8. HELENA REFUNDS WILL GET A 35% BONUS + BUY TAX AVOIDANCE. This means your bonus amount will roughly total around 50% and the conversions will be made according to the Helena/BNB parity at the time of your airdrop. If option 2 is chosen, equivalent BNB portions will be transferred to the buyback wallet once Helena tokens are sent to the wallets.
9. The majority of the Angel Nodes Community voted in the favor of dissolving Angel Nodes. Thus, the funds left from the protocol are being distributed as refunds to the holders.
10. Symbol: AMP
Network: Binance Smart Chain
11. Refunds are done manually in batches.
As all journeys eventually end, here is the farewell message to our Angels from Drex.
“We sincerely thank all of our community members, endorsers, team members, and partners who supported and encouraged us since Day 1 and we would love to see you on Nemesis or Helena side as they are going to be actively and progressively developed from now on. Cheers and until next time.”
As we bid farewell to our Angels, Nemesis investors and Helenians stand tall. We will keep working on making Helena & Nemesis a better place and keep on revolutionizing the DeFi space, and we want you to join this journey with us.