Protocol Gradually Shuts Down, Ducat Opens Treasury Asset Redemption

Odaily: Ducat announced that the team has decided to gradually shut down the protocol. Ducat was originally designed to maintain a price floor through a related mechanism, but many participants never fully understood this mechanism. During the protocol shutdown period, the team will prove that Ducat is fully backed by treasury assets, with each DUCAT corresponding to a pro-rata right to share in the protocol's treasury assets. All rights involving DUCAT treasury assets, including vested bonds, vested Pass rewards, pDUCAT in staking, pDUCAT in the cooldown period, and circulating DUCAT in wallets, can be redeemed without waiting for the cooldown period to end. Ducat stated that the team has taken a snapshot of DUCAT holders, and holders included in the snapshot can redeem the fair value of their corresponding DUCAT from the protocol treasury; DUCAT purchased through liquidity pools after the snapshot was completed is not eligible for redemption. The team has also updated the front-end interface to allow users to complete the redemption.