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Depth officially launches DAO V2
Dear Depth community,
The Beta version of Depth DAO has finished the contract upgrade, and Depth DAO V2 will be launched at 14:50 (UTC+8) on May 10 2021. Users can go to the DAO page (https://depth.fi/dao) to stake DEP in DAO V2 to earn weekly HUSD rewards and participate in the community governance. The Depth DAO V2 contract has passed the security audit. The contract upgrade this time will not affect users' swap, asset yield, or security.
As the contract has been upgraded, we kindly ask community members to pay attention to the following matters:
    1.
    Since the Depth DAO V2 contract has been upgraded and redeployed, users have to manually cancel DEP staking in the Beta version of the DAO contract, wait 7 days for the cooldown period, withdraw the DEPs, and re-stake them to the new Depth DAO V2 contract to participate in subsequent rewards claiming and Depth governance. The Depth DAO Beta version will not distribute rewards in the future.
    2.
    Since there is a 7-day cooldown period, to ensure the fairness of the Depth DAO rewards distribution, the second and third periods of Depth DAO V2 rewards claim will be combined and unified. Users can claim these two periods' rewards together at 14:00 (UTC+8) on May 21, 2021 (Friday).
    3.
    For users who have staked DEP before 2 pm (UTC+8) on May 7th, but have not yet been available to claim the first-period Depth Beta DAO rewards, you can claim the DAO rewards from Beta DAO pool. Please note that according to the Depth DAO rules, you should claim your DAO rewards within a week (i.e. before May 14th 2:00 PM (UTC+8)), or the rewards will be not available for claiming any more.
We sincerely apologize for the inconvenience and confusion caused by this contract upgrade. Our volunteers will be ready to answer your questions in the Depth community (https://t.me/depthglobal). Thanks for your continued support and understanding.
Depth always takes security as a priority. The Depth team has contacted more audit institutions to conduct multiple audits on Depth's contracts. More audit reports will be publicized in the future and related security work will be carried on for the long term.
For Depth DAO tutorial, please visit:https://docs.depth.fi/tutorial/dao
For Depth DAO product details and FAQ, please visit: https://docs.depth.fi/product/dao
Risk Reminder: DEP is the Depth's governance token. DEP token has no intrinsic value.
Depth Core Volunteers May 10 2021
Last modified 4mo ago
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