How can Voyager individual bankruptcy victims access Magic Keys protected backup answer allocation #Voyager #bankruptcy #victims #access #Magic #Keys #secure #backup #resolution #allocation

Representation of the Ethos name and token icon
Ethos has declared a rebrand and a “recovery airdrop” for Voyager Electronic creditors – Image: Getty Visuals

Lenders of the defunct crypto brokerage and loan company Voyager Digital could be in line for a token airdrop from Ethos 2., the relaunched Ethos blockchain system. 

Ethos announced the airdrop course of action – dubbed the Ethos Restoration Airdrop – on Twitter, which at existing is only open to people who have cryptos trapped on the Voyager system, this kind of as bitcoin (BTC), ethereum (ETH), usd coin (USDC) and the native voyager token (VGX). 


How can Voyager creditors accessibility the ETHOS airdrop?

As component of the Ethos Recovery Airdrop, there are one billion ETHOS tokens accessible to be claimed by individuals who have assets stuck on the Voyager ecosystem.

Airdrop claimants require to abide by step-by-stage recommendations issued by Ethos and fill in an on the internet type. The moment entire, Ethos will verify the ETHOS token allocation based mostly on how several tokens a claimant experienced on Voyager. 

Fundamentally, claimants will acquire one ETHOS for every $.38 held on Voyager as a creditor and two ETHOS for each VGX token held on Voyager.

Ethos 2. need to be launching in the coming months. After the Ethos application is up and jogging, ETHOS tokens will be added by means of the app.

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And what about the Magic Keys?

As component of the Ethos 2. relaunch, Ethos is also unveiling its secure critical backup answer, referred to as Magic Keys, which Ethos states will “lets people unlose their keys”. 

Ethos stated: “The assistance attributes company-grade important encryption, sxharding, and backup providers. Moreover, it focuses on supporting customers check out self-custody with no compromise.” 

“Under the hood, Ethos allows end users create their keys, but only if they want to trade. Should really the user lose their important, they can add the encrypted edition, reply their safety inquiries, and complete two-component authentication. Ethos will release the 3rd shard to restore the keys.” 

What led to the Ethos 2. relaunch?

The relaunch stems from 2019 when Ethos was obtained by Voyager Digital, which then incorporated the Ethos workforce, technological innovation and crypto token into the its ecosystem. 

Just three a long time later on, Voyager submitted for individual bankruptcy in July 2022 due to the fact of its exposure to the failed crypto hedge fund 3 Arrows Funds, which collapsed in the wake of the Terra (LUNA) crash.

Considering that then, cryptocurrency derivatives exchange FTX acquired Voyager’s belongings in September with its winning bid of $1.422bn (£1.267bn), which bundled a fair market price of the belongings and $111m of “incremental value”.

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