2021-07-09 00:14:53
Whew, that was a busy few days! Now that we've got those re-launches done and all hodlers airdropped (
at the cost of $250,000 ), we can cover off a few important questions we've been asked on them!
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1) What was the contract bug?
In technical terms; the r value for any sales tax reflections was not being adjusted against the r supply; rather, the t value was appearing in it's stead, which led to a slightly higher token count being distributed on each transaction. By itself, it is absolutely miniscule - but with a massive volume of transfers, it can grow to frightening levels. With EtherScan/BSCScan often having issues updating reflection token balances correctly, we always assumed this to be a common display bug - until the reflection levels on PussyCredit reached a point where it warranted a full investigation, where the root cause was then found.
In simple terms; a miniscule inflationary bug was present in the contract which remained unseen until massive amounts of the supply were transferred on live services, which grew the inflation to points where it could be recognised.
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2) How was it fixed?
We re-wrote our contract, and rigorously tested it in extreme-case scenarios to ensure that the problem had been resolved; alongside having it reviewed by additional third parties. Following this, we airdropped all affected tokens on to these new contracts, and covered the full cost of liquidity (which is once again, locked for 100 years).
All tokens were airdropped back to the originally intended supply levels, on a 1:1 basis with the ETH value of the held tokens. Two of our communities (StealthInu and PussyCredit) opted for 40% LP relaunches, at the request of their respective holder bases.
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3) Why did the relaunches start with a red candle?
Every relaunch done to date is now up considerably from their pre-snapshot value; however, as these tokens all started with airdropped holders at a considerably higher value than their pre-snapshot levels, many holders would opt for an exit during launch euphoria.
As an example: @AstroLion was at around a $350k market cap when our snapshot was taken. After re-launch, the market cap stood at around $400k due to the higher liquidity provided by FLC. DEXT began tracking the token after it hit $660k mCap, and it then shot up to $1.7mil during the opening candle. AstroLion is now trading at a $530k mCap, which is around 51% up from before their snapshot! ..but when tracked via DEXT, it looks like the red candles literally go below the starting point.
This is unfortunately common with all relaunches - but given the now more stable platform these tokens are running on, alongside all having increased reflections & black hole deflationary tokenomics added, we're looking forward to seeing them all shoot off to beat that opening candle by a wide margin in the very near future
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4) EverApe, HODL, and SMBH were not airdropped - why?
EverApe is on an entirely different contract which did not suffer from this bug in the first place. HODL and SMBH have extremely deflationary tokenomics, which
vastly outweigh the inflation on each transfer. As no other security concerns were noted during our (and our third-party) reviews of these contracts, no airdrop was necessary.
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5) Will further assurances be given as to the safety of our platforms?
Yes - we're currently working with additional third parties to ensure all of our tokens are now externally audited, backdated to include our previous launches. Trust us, we know it can be frightening to hear about bugs - and that's why we fronted the entire cost to airdrop our full liquidity onto these new contracts. In addition to that, the liquidity on the old contracts remained untouched - so if you've old/discontinued tokens left over, feel free to dump them for free eth!
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