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The LOOKS Rewards Migration™ : Here’s What You Need to Know

The LOOKS Rewards Migration™

Our original 24 month schedule of emissions is drawing to a close. But the party doesn’t end here — migrate your LOOKS to the new contract to keep earning rewards!

We will be seeding the new rewards pools with $200k USD In ETH to be distributed over the first 7 days to reward early adopters.

Migration will open at 11am UTC on Monday, 27th November 2023.

👀 What’s New?

No more emissions. Going forward, Protocol Rewards will be generated from our expanding suite of games (YOLO, Raffles, Infiltration and more to follow…).

In case you missed it, we’re now going deflationary. No new LOOKS will be created, and we’re committed to burning circulating LOOKS, which will reduce the overall supply as a result.

For our new Rewards initiative, you’ll need to migrate your committed LOOKS to the new contract. Don’t worry, you won’t lose them if you don’t migrate — but you’ll stop earning rewards after Ethereum block 18663262 (est. [Nov 27th, 1:22pm UTC]).

📃 About the New Contracts

When you commit LOOKS, it gets converted to wLOOKS — at which point it’s added to either:

  • The WETH Earner (which rewards you with WETH)
  • The Compounder (which converts your WETH into more LOOKS and adds it to your committed stack)

To retrieve LOOKS, you have two options: a Standard unwrap, or a Priority unwrap:

  • The Standard unwrap, once initiated, takes seven days to unlock. After that, you can claim your LOOKS.
  • The Priority unwrap allows you to claim your LOOKS immediately, but 5% of the amount will be taken as a fee and burned. We don’t like paper hands.

Check out the FAQs for more details.