Token Distribution Delayed

The last several weeks have been very exciting for the GFX Labs team. We worked day and night to build and deploy Interest Protocol on Ethereum. The excitement and support from the community and partners around the protocol has been nothing short of incredible.

Unfortunately, we launched on June 13th, an ill-fated day for markets around the world and across all sectors. Market conditions have deteriorated significantly. We do not believe that it is in the community’s and the protocol’s best interest to pursue a distribution of governance tokens during this time of heightened market volatility. As a result, we have chosen to defer the Interest Protocol Token sale. We intend to resume the token sale in a month.

Everyone who has already participated in the sale will receive a full and immediate refund of their USDC. As a show of our appreciation to early contributors, they will also receive the number of IPT tokens they would have received if the final price had been $0.25. These tokens will be distributed after the public sale.

As part of the implementation of this change, we will deploy a new IPT contract and set it as the governing token of the protocol.

There will be no other changes to the protocol currently deployed on Ethereum. Interest Protocol will continue to operate normally for users. The Liquidity Program will continue as currently scheduled. IPT rewards will accrue to liquidity providers but will not be distributed until the public sale.

Over the next few weeks, the GFX Labs team will continue improving the infrastructure around the protocol by launching an analytics website, developing governance toolings, and making general web app improvements. We will also take the opportunity to reassess the token distribution mechanism.

Thank you to all the early community members and users that are helping Interest Protocol grow, even in this challenging environment. We see you. We appreciate you.


30days later and 1/2 way through July.

I was just curious if there are thoughts as to when the token sale and distributions are going to happen.

We’ve been busy at work in the background over the last month to get the protocol into a good position for the token distribution. We have a new distribution mechanism that we plan on using, so there will be an announcement regarding that shortly. We also have a few small protocol changes that we’ll implement before the distribution; more information on that is to come. We have a few other pending things that we’re working on that we think will put the protocol in a better position to succeed that should come to fruition around the end of the month/beginning of August. We plan to begin the token distribution sometime in August.

The community can expect an announcement regarding the small protocol changes no later than Monday the 18th, and we can give an update on the token distribution no later than Monday the 1st.

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Has there been any further updates on this?

How can I find my tokens currently because I can’t see my balance

You probably need to add the token address to your wallet: 0xd909c5862cdb164adb949d92622082f0092efc3d