LODE DAO 10:1 Token Split — June 5 2024
LODE DAO 10:1 Token Split Enhancing Accessibility & Participation
FOR IMMEDIATE RELEASE
June 05 2024 — LODE DAO, the decentralized autonomous organization dedicated to the tokenization of precious metals, announced a 10:1 forward token split of its LODE tokens today.
This strategic move aims to enhance token accessibility, increase its market liquidity, and foster greater participation in the LODE ecosystem.
Type of Split: LODE DAO is implementing a forward token split, increasing the number of LODE tokens by 10:1.
Number of Tokens: The token split will convert all classes of LODE Tokens by 10:1 For example, a holder of 1,000 LODE tokens will receive 10,000 new LOD3 DeFi tokens.
Effective Date: The effective date of the token split is June 17, 2024
Rationale: The primary reason for the 10:1 token split is to make LODE tokens more accessible to a broader range of investors and participants. By increasing the total number of tokens in circulation, LODE DAO aims to facilitate easier transactions and trading, while promoting inclusivity and wider distribution within the digital ecosystem.
LODE Token Classic (LTC) holder impact: Current LTC token holders will receive 9 additional LTC tokens, ensuring that their overall value remains unchanged. This non-dilutive split ensures that the total market value of token holdings will remain the same.
LODE Token holder impact: Current LODE token holders will receive 9 additional LODE tokens ensuring that their overall value remains unchanged. This non-dilutive split ensures that the total market value of token holdings will remain the same.
Trading: The last day of trading before the token split will be June 16, 2024, and the token split will occur for most users by midnight (London UK) on June 17, 2024. The first day of trading after the split will be June 18, 2024. There will be no change to the token symbols as a result of this split.
Record Date: The record date for determining holder eligibility for the token split will be June 16, 2024. All classes of LODE tokens held on this date will be subject to the 10:1 split.
Implementation: The token split will be processed automatically, with the new LOD3 and LTC tokens being registered in Token holder’s wallets through designated blockchain protocols. Token holders do not need to take any action to receive additional tokens.
This announcement contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those projected or implied.
Disclaimer: The information provided in this announcement is accurate as of the date of publication. LODE DAO reserves the right to update or modify any details as necessary.
This email is for informational purposes only and is not intended to provide, and should not be relied on for tax, legal, investment, financial, or other advice. Any references to third party platforms or projects is not an endorsement by LODE (Switzerland) AG, or any of its respective affiliates or subsidiaries. The information contained in this email is current as of the date hereof and is subject to change without notification.
LODE (Switzerland) AG Bahnhofstrasse 6, 9100 Herisau, Switzerland
