Hey PlanetWatchers, it’s time to move on. 

As you know, PlanetWatch made an agreement with the Ambient Foundation to take over the Planetwatcher’s community, tokenomics and air quality network.  We believe this agreement is the best way to serve the community, as Ambient has a very ambitious plan to become the leading environmental DePIN ecosystem. 

In the coming months, Ambient will operate on the Solana blockchain and launch its own token. This is what happens in terms of your $PLANETS tokens and licenses:

• Your $PLANETS tokens will make you eligible for an airdrop of Ambient tokens
• If you have an inactive PlanetWatch license, PlanetWatch will offer a refund in $PLANETS that will count towards your eligibility for the Ambient airdrop

Licenses are eligible for a refund if they were bought before 1st July, 2022 and never activated by connecting them with a sensor (even if they were linked to the Loyalty Program).

Refund conversion rate will be set as the value of the Planets token on the snapshot day, 15th of July 2024 (you can learn more in Ambient Migration Plan blog post). Ambient has agreed to provide PlanetWatch with the remaining undistributed $PLANETS supply (about 1.9B tokens including the undistributed Hodler rewards that would have been burned) for inactive license refunds as a shared pool. 

Eligible refund applicants do not need to perform any specific action at this time. They will receive an email in the next 30 days with instructions to apply for the refunds and details about $PLANETS distribution. You will have 45 days to apply for the refunds. Refund requests after this period will not be processed.

If you have $PLANETS in your wallet and/or own licenses, please make sure to follow Ambient on its socials and communities for updates. You should also be aware that after the airdrop, the market value of $PLANETS might drop.

We’ve been working hard to strike the best possible deal for you and we believe the deal is fair, given the strong potential of the Ambient project. 

As PlanetWatch will not sell licenses in the future, PW:Credit has no longer utility or use case, the remaining store credit balances will expire while the unused vouchers already have expired.