Covalent (CQT) is a multi—chain protocol asset data provider governance token that provides easy and fast access to blockchain data. In addition to serving as a management token, granting voting rights to holders, the token is an asset for stacking in the multichain API.

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To the Covalent Community,

Further to our previous announcement on the Covalent Recovery Plan, the migration date from Nomad CQT (”madCQT”) to fully-backed Wormhole CQT (”WholeCQT”) is delayed till on or around Jan 18th, 2023, due to an ongoing audit. 

As a reminder, you must stake madCQT in order to follow the Covalent Recovery Plan. There is approximately 9M in staking room still available.

If you want to avail of the Covalent Recovery Plan do not bridge back your madCQT when the Nomad bridge restarts. If you bridge madCQT back, you are no longer eligible for the Covalent Recovery Plan. Only staked madCQT is recovered.

The response to the Covalent Recovery Plan has been overwhelmingly positive. We appreciate your ongoing support. 

📌 More information on the Covalent Recovery Plan can be found here:

https://www.covalenthq.com/blog/covalent-recovery-plan/

To the Covalent Community,.