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Ending FreshCut Diamonds (FCD) Development and FCD Recovery Instructions

Penta Labs and FreshCut are ending their partnership to develop and integrate blockchain FreshCut Diamonds (FCD) into the FreshCut ecosystem. FreshCut is removing blockchain FCD, the blockchain wallet, and all other blockchain-based elements from the FreshCut platform. 

 

Penta Labs will provide for issue designated recovery amounts in USDC to primary and secondary purchasers of FCD. Please follow instructions below for recovery.

Before you begin the FCD recovery process, please note: ​

1. FCD for USDC Recovery Process claims process is Open for 90 Days (from January 23 to April 23, 2023).

2. FCD tokens can only be eligible for either primary or secondary process, NOT both.

3. Secondary recovery participants will receive USDC recovery soon after sending in FCD (timing pending processing + network traffic). Primary recovery participants will receive USDC after the primary claims process is complete in 90 days (estimated payout date(s) between April 24 and May 12, 2023). 

SECONDARY RECOVERY PROCESS​

If you bought FCD on the secondary market on or after May 12, 2022 and currently hold FCD in your non-custodial wallet, you qualify for secondary recovery and can send in FCD for USDC (on Polygon network) recovery. Follow the steps below:

Before you begin, if your FCD is on a centralized exchange account (e.g. KuCoin, Bybit, Gate), you must first move them from your exchange account to your own non-custodial wallet (i.e. a wallet that you hold the keys / seed phrases to). DO NOT start on the below process from your exchange account. 

If you send in FCD from a centralized exchange account, you likely will NOT receive the USDC recovery back. 

1. Ensure your FCD is in your non-custodial wallet (FCD in exchange accounts are not acceptable). ​

2. Ensure you have ~0.05 MATIC on Polygon in the same non-custodial wallet to pay for the gas transaction fee. ​

 

3. Ensure you're on the Polygon network. Send the desired number of FCD to the below secondary recovery address. You need to send at a minimum 1 FCD. Penta Labs cannot guarantee recovery if less than 1 FCD is sent. 

Address to send in FCD:

0xe83f4210692ee12ee233aa20b4df3db11cabb5c5

Warning: Triple Check 1) only FCD (on Polygon) is sent to this address and 2) the address is copied correctly. If non-FCD tokens are sent those tokens can NOT be returned and USDC recovery is not possible. 

4. Wait up to ~5 minutes (dependent on network traffic) and you will receive USDC recovery (on Polygon network) in your wallet address. The FCD conversion price is $0.0226 USDC per token. Price is based on 30-day average from 12/19/22 to 1/18/23. Your FCD sent in will be burned. 

If you followed the above steps correctly and did not receive USDC recovery after 5 minutes, please contact labs@fcd.gg with the Polygonscan link to your FCD send transaction. 

PRIMARY RECOVERY PROCESS​

If you purchased FCD from the non-US, regulatory-compliant Republic and/or Polkastarter offering before May 11, 2022, you may file a claim for 55%+ USDC recovery by completing the below form. 

LINK: PRIMARY RECOVERY PROCESS FORM

Notes:

  • Only original Republic and/or Polkastarter purchasers are eligible to submit a primary recovery claim form

  • Only FCD tokens purchased from the primary sale are eligible to be submitted

  • FCD tokens are only eligible for primary recovery if they have NOT been submitted to the secondary recovery process

  • Claim approval depends on several factors, which are outlined in the claim form

  • Submission of FCD primary recovery claims form does not guarantee approval for USDC recovery. Penta Labs will review each claim form to determine validity and approval

  • 55%+ USDC recovery payout will commence after the primary claims process is over in 90 days (payout dates estimated between April 24 and May 12, 2023). The final recovery rate percentage will depend on the participation rate (and approval) from all original primary purchasers. Therefore, Penta Labs is unable to process any payouts for primary claims prior to estimated payout date(s).

Contact labs@fcd.gg for questions on this process. 

Please Read The Following Carefully

Penta Labs Announcement


Important information on the FCD claims and recovery process from Penta Labs, the developer and issuer of FreshCut Diamonds.

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