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Document last updated: March 21st, 2023.
The DEV team continues to work on recovering SD tokens; the trading of said contracts is still locked to prevent exploitation.
The contract to replicate the exploit given us by PeckShield was unsuccessful, though we greatly appreciate their efforts at the beginning of this situation and their attempt.
Our team has worked tirelessly to replicate the exploit contract to recover the remaining funds for the investors of the SD projects.
We have received questions about the actions post-recovery (if possible); we will deal with these individuals as some may wish to re-launch on the newly audited SD Contract, give the LP directly back to holders, or inject LP into another contract that's already launched.
We will further explore these options if/when the LP is recovered.
There are multiple ways for liquidity generation: We've integrated new trading taxes that can be used for LP on the upgraded version of the token that will be used for FEG & ROX liquidity loss.
FTW (P2P) Limit-Order platform will have the option of per transaction or subscription fees used for Marketing, Growth, and Staking. -Note: This includes the recovery of liquidity. Projects that launch off of the SmartDeFi launchpad will have a fair transaction fee that will be used for Staking & Protocol Fees. -Note: This includes the recovery of liquidity.
Once traffic on the Aggregator permits, we will look at monetizing the Aggregator by offering listing options to DEXs through our platform.
We are moving away from swap contract trading and towards a Limit Order trading platform that works person-2-person called "From The Wallet" (FTW).
This Limit-Order platform will be coupled with an Aggregator/router so that you may trade any token on the platform and can trade those verified tokens on the FTW Limit-Order platform.
As we grow and develop, we will look for VC funding to provide adequate LP for the DEX. If we can do so, it would then make sense to bring back swap contract trading, contracts would be rebuilt, and we would 3rd party audit all contracts as we are doing so with SD 2.0.
We are working with several security companies and law enforcement to trace exploiters. Based on the results of the investigations and if we can return stolen funds from the ecosystem, we would return them to the project holders.
We have offered a 20% bounty to the exploiter if 80% of the fund are returned (messaged on the blockchain).
The liquidity will be used to recover LP losses for FEG & ROX, ProPairs, and SD projects impacted by the exploit.
Last modified 24d ago