Morph: Officially Ending the Black Card and Platinum Card Programs, Issuing ETH Refunds and Staking Compensation to Eligible Users

Foresight News reports that Morph has announced the official termination of its Black Card and Platinum Card programs due to strategic adjustments and will issue ETH refunds and staking compensation to eligible users. Morph will provide the following ETH refunds and compensation: - For Morph Black NFT (Mint cost: 0.2 ETH), all Black Card holders will receive a refund of 0.2 ETH. If they participated in staking, they will receive additional compensation: - Phase 1 staking compensation: 0.15 ETH - Phase 2 staking compensation: 0.1 ETH - For Morph Platinum SBT (Mint cost: 0.3 ETH), all users who minted through paid methods will receive a refund of 0.3 ETH. Morph explained that the Black Card NFT and Platinum Card SBT programs were initially designed as early explorations to serve end-users and foster community cohesion. However, with the evolution of the ecosystem and changes in the regulatory environment, this model has become unsustainable in the long term. Additionally, Morph's strategic focus has shifted toward infrastructure development, and continuing to invest in the end-user card business would not align with its core direction and would divert limited resources. Morph stated that refunds will be processed based on address snapshots to verify eligibility, and the overall process will be completed within this month: 1. The transfer function for Black Card NFTs will be disabled on September 11 at 18:00 SGT, and address snapshots of cardholders will be taken on-chain. 2. Based on the snapshots, Morph will issue Black Card SBTs to current Black Card NFT holder addresses as non-transferable identity credentials. 3. The refund claim function will go live, allowing addresses holding valid Black Card SBTs to initiate claims on the designated page. The system will issue corresponding ETH refunds (including staking compensation, if applicable) based on eligibility. 4. Staking users from different phases, whose staking addresses no longer hold Black Card NFTs, will also be able to initiate claims on the page and receive compensation based on their actual staking status at the time. 5. Refund eligibility for Platinum Card users will be verified through Platinum Card SBTs or equivalent on-chain credentials, and corresponding ETH refunds can be claimed on the same page. 6. Until receiving official notification, users do not need to take any action or transfer NFTs to obtain refunds and compensation.