Final Liquidation Update

Over Crimbo '24, the Bank of KoL returned all remaining deposits on the books.

All but two accounts were held by inactive players, some of whom had not logged on since 2008. Deposits held by inactive players were not withdrawn during the 2016-2018 liquidation period, as priority had been given to active players. Accounts were considered inactive if they had not logged on after 2015.

The two active accounts consisted only of remaining unpaid interest, as their principal and most interest was returned in 2016-2018. These two accounts were exceptionally large, and the Bank required further liquidation to complete their withdrawals. 

After the liquidation of the vast majority of the Bank's holdings and the return of all deposits with interest, the Bank has sufficient surplus meat remaining to increase the rate of return paid to all past depositors who were affected by the Bank's inactivity from 2014-2016. These accounts will receive a further 30% return on their 2014 balance, added to the 10% return already paid. 

This 30% additional return has now been paid to all active and recently active players, including all who logged on anytime since 2023. 

As the Bank fully liquidates the remainder of its holdings, this return will be also be paid to all inactive players as the meat becomes available. In the meantime, any players resuming activity who have not yet received their 30% return can receive immediate payment by notifying the Bank of their resumed activity.

If sufficient meat remains after the Bank has fully liquidated its holdings, past depositors may receive a further and final additional return on their 2014 balance, at a rate to be determined.

Final Liquidation

After a longer than intended break following the liquidation of accounts held by active players in 2016-2018, the Bank of KoL is now proceeding to return all deposits of inactive players, completing the liquidation process. The bulk of any remaining meat will be paid out to past depositors as an additional return on their balance as of 2014, when the Bank ceased activity due to health issues.

Summary of the 2016-2018 Liquidation Period

In 2016, the Bank entered into liquidation. All deposits plus interest earned up to the day the Bank ceased activity in 2014 was guaranteed, in addition to a further 10% return on this amount.

As the Bank liquidated and the meat became available, it sent rounds of withdrawals to players. Priority was given to active players, and each round was capped at 200 million meat withdrawn per account to ensure all active players received equal priority. 

When the Bank began liquidation, all accounts of 200 million meat and less held by active players were immediately returned. Larger accounts held by active players received partial withdrawals of 200 million meat per round.

After a year of liquidation, all accounts of one billion meat and less held by active players were returned, and the cap on meat withdrawn per round was raised to 500 million to accelerate the return of large accounts. 

By the end of 2018, the Bank had liquidated the majority of its holdings. All accounts held by players who maintained activity had been returned, except for two very large accounts, which had their principal and most interest returned, as further liquidation was required for these accounts to be fully withdrawn. 

In 2019, the Bank took a break from liquidation while waiting for its remaining holdings to sell.