According to Foresight News, Morph has officially announced the closure of its Black and Platinum card programs due to strategic adjustments, and will be issuing ETH refunds and staking compensation to eligible users. Morph will issue the following ETH refunds and compensation: For Morph Black NFTs (mint cost: 0.2 ETH), all Black card holders will receive a 0.2 ETH refund, and those who participate in staking will receive additional compensation: Phase 1 staking compensation: 0.15 ETH, Phase 1 staking compensation: 0.1 ETH, Phase 2 staking compensation: 0.3 ETH. For Morph Platinum SBT (mint cost: 0.3 ETH), all users who paid to mint them will receive a 0.3 ETH refund.
Morph explained that the Black Card NFT and Platinum Card SBT programs were initially early explorations to serve consumer users and build community. However, with the development of the ecosystem and changes in the regulatory environment, this model has become unsustainable in the long term. Furthermore, Morph's strategic focus has shifted to infrastructure development. Continuing to invest in the consumer card business would not only be inconsistent with its core direction, but would also divert limited resources.
Morph stated that refunds will be processed based on a snapshot of the holding address and eligibility will be verified. The entire process will be completed within this month:
1. The Black Card NFT transfer function will be closed at 18:00 SGT on September 11, and a snapshot of the cardholder address will be completed on the chain.
2. Based on the snapshot, Morph will issue Black Card SBT to the current Black Card NFT holding address as a non-transferable identity certificate.
3. The refund claim function will be launched. Addresses holding valid Black Card SBT can initiate a claim on the page. The system will issue corresponding ETH refunds (including staking compensation, if applicable) based on eligibility.
4. Pledgers at different stages, if the pledge address no longer holds Black Card NFT, will also receive compensation for their actual pledge status at the time after initiating a claim on the page.
5. Platinum card users’ refund eligibility will be confirmed through Platinum card SBT or equivalent on-chain credentials, and the corresponding ETH refund can be claimed on the same page.
6. Before receiving official notification, if you want to obtain a refund and compensation, you do not need to perform any operations or transfer NFTs.
