From Dropil with Love
Note: The one-time revaluation was completed on October 2nd, 2018 and this information is no longer relevant for new Drops deposited to the system.
The new Dex valuation methodology and the factors that necessitated its creation are outlined in detail in this article. While there is no way to predict what the 24 hour average Drop price will be on the specific date and time (which will be announced ahead of time, and referred to as the “Revaluation Time”), when the new Dex valuation methodology goes live, we have decided to offer a guaranteed minimum value for funds in Dex at the Revaluation Time. If the 24 hour average Drops price is below $0.005 equivalent at the Revaluation Time, then we will value all Drops then present in the Dex system at $0.005; if however the 24 hour average Drops price is above $0.005 at the Revaluation Time, then the higher price will be used for purposes of valuing the Drops in Dex. We are happy to offer this one time Dex valuation guarantee to all of the community as they have always been extremely supportive during the growth and expansion of Dropil. With the primary purpose of this revised Dex valuation methodology being to better align Dex’s actual USD equivalent value of trading funds against the USD equivalent value of funds deposited in Dex, the Dropil team thought it would be equitable to apply this paradigm on a limited retroactive basis as well through this one-time minimum valuation lock event. Below you will find some bullet points to further clear up details of this one time systemwide Dex fund revaluation.
Rules of the one time revaluation:
- Your total assets in Dex are revalued at the Revaluation Time
- Your revalued total funds in Dex only includes funds actively in Dex; if in the midst of a cycle any unrealized returns are not included in this amount
- The Revaluation Time is the same for all users
- Dex funds will be revalued at the 24 hour average Drops price as it appears in the Dex portal at the Revaluation Time
- If the above amount is less than the equivalent of $0.005 at the Revaluation Time, then the revaluation will default to $0.005
- Funds (Drops) not in Dex at the Revaluation Time will then have funds valued at whatever the 24 hour average Drops price is at the time of the next contribution (or recontribution), and further, will not receive the one time guaranteed minimum valuation, and will be treated normally when added to Dex
- Note that this one time revaluation event applies ONLY to the value of funds in Dex, and NOT to the value of Drop tokens which are valued purely by market forces