Phase 1 Liquidation Results

The Bank of KoL began liquidation on July 23rd, 2016. Phase 1 of the liquidation process was carried out over the first year period, from July 23^rd, 2016 to July 22^nd, 2017.

Only the deposits of recently-active accounts, those that last logged in any time from January 1, 2016 to July 22nd, 2017, were eligible for withdrawal during Phase 1. All accounts that were active at any time throughout this period received withdrawals.          
          
Withdrawals were made periodically in rounds as the Bank liquidated its holdings. Each round of withdrawals included only the accounts of recently-active depositors who had logged on in the month or two before each round. Five regular rounds of withdrawals were sent in Phase 1, as well as a make-up round for recently-active players who missed all other rounds.
          
Withdrawals for each eligible account were capped at a maximum of 200,000,000 meat (200m) each round in order to ensure all active depositors received equal priority. Larger deposits received withdrawals of up to 200m each round in which they were eligible.
          
This format produced the following results for Phase 1:

• All accounts of 200m or less that were eligible for any round were fully withdrawn.           
• All accounts of 400m or less that were eligible for any two rounds were fully withdrawn.
• All accounts of 600m or less that were eligible for any three rounds were fully withdrawn.
• All accounts of 800m or less that were eligible for any four rounds were fully withdrawn.
• All accounts of 1,000m or less that were eligible for all five regular rounds were fully withdrawn.
• All accounts greater than 1,000m that were eligible for all five regular rounds had a total of one billion meat withdrawn.

In other words, all depositors who logged on at any time from January 1, 2016 to July 23rd, 2017, with accounts of 200,000,000 meat or less, have received full withdrawals. Furthermore, all depositors who sustained regular activity over this period, with accounts of one billion meat or less, have received full withdrawals.      
   
Summary Statistics for Phase 1:

• 40% of all depositors have received full withdrawals. 
• 5% of all depositors have received partial withdrawals.
• 32% of all meat held by all depositors in total has been withdrawn.