Introducing the PINK Governance Token
The PINK token will be a new governance token, representing a shift toward a more decentralized platform. PINK will fully replace RED as the primary governance mechanism on Colors Finance. The migration to PINK will happen in two phases:
First Week Migration: In the first week, RED tokens will be migrated to PINK at a 1:1000 ratio. For every 1 PINK token, you will need to exchange 1000 RED tokens. This migration will give early adopters a chance to transition into the new governance structure.
Second Week Migration: In the second week, the migration rate will change to 1:2000, making it less favorable for late migrations. This migration will be the final opportunity to convert RED to PINK, as the window will close after the second week.
Important Notes About PINK:
Max Supply: The max supply of PINK tokens is capped at 21,000. These tokens will be fully vested over a period of 2 years, with distribution earmarked for liquidity provider incentives, the DAO Fund, and the developer fund.
Governance: PINK tokens will give holders voting power, allowing the community to influence the future direction of the Colors Finance ecosystem.
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