CICADA Token Migration & Redemption Update
Summary
Cicada announces a token migration after the rtUSQ incident with the snapshot fixed at block 115730532 to exclude abnormal mints. The new token will be airdropped to snapshot holders, August redemption requests are voided, and redemptions will reopen likely in September. The update warns members to use only official Cicada channels and avoid scams.
CICADA Finance: Token Migration and Redemption Update
Following the rtUSQ security incident, we are moving to protect legitimate users through a new token migration and airdrop. Two important updates follow, covering the snapshot standard and the August redemption window.
๐ธ Snapshot and Airdrop
The migration snapshot has been fixed at block 115730532, exactly one block before the first abnormal minting transaction. This captures holder balances as they stood immediately before the incident, so any abnormally minted tokens are excluded. The new token will be airdropped to holders based on this snapshot.
๐๏ธ Redemption Window
The August redemption requests will be voided. Redemption will reopen only after the token migration and airdrop are complete. We currently expect this to fall in the September redemption window, though the exact timing is still to be confirmed and will be announced separately. If you need to redeem, you will be able to submit your request again during that window.
๐๏ธ Reminder
Stay safe. Rely only on CICADA Finance's official channels for information on the migration, airdrop, and redemption timing. We will never DM you first, and we will never ask you to connect your wallet to "verify", "unlock", or "claim" an airdrop. Any account or link promising early claims or refunds is a scam.
Official channels:
๐ https://cicada.finance/
๐ฆ https://x.com/CicadaFinance
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