SpiritSwap Moving Forward

Hello Spiritors/SilverSwappers,

we have a couple of options that lay before us, as we believe we have devised the most acceptable and POWERFUL plan for the OG Vaults on Sonic.

It is no secret to anyone that Fantom is winding down. A large portion of the remaining ~100k in liquidity for the Spirit token is either long-forgotten, or locked for many more years.

The options listed below are what we feel are the best, ordered from highest preference, to least preference. We will take a community sentiment temperature check to get an idea for which way everyone feels is the best way to move into this next exciting phase of SilverSwap.

1. Drain all the liquidity we can from the Spirit token Lp (roughly $50k worth). These funds will then be actively managed on SilverSwap to earn a yield of roughly 100-300% APR, which will be used predominately to pay OG vaults, with 15% of those funds equally distributing to Power holders, $AG burns, and the SilverSwap team for management.

2. Liquidate as much Spirit as we can, and disseminate the funds to everyone based on their weighting on the snapshot we took a few months back. Please be aware this would be likely below 1% of initial value deposited as the total distribution per holder would be minuscule.

3. Do nothing, let Spirit dwindle down into nothing as Fantom support slowly fades into nothingness.

We will enact the winning plan on February 1, 2025.

We do not believe it is possible or remotely reasonable to assess anyway to bridge SpiritSwap, its assets, or brand to Sonic. We the team believe option 1 is the best for everyone, as it secures a long-term gain for OGs. OGs will receive an NFT for their OG weighting based on the snapshot we took. This means if you wish to opt-out of being an OG, you will be able to sell these NFTs on a secondary market.

Please take time as you weigh your preference, and we hope you will see why we believe option 1 to be incredibly more potent and valuable than the other described options.