In response to the recent cyber attack on one of our multisig wallets, we're announcing a Bounty Program to recover the stolen a
21 Jul 2024, 10:31
In response to the recent cyber attack on one of our multisig wallets, we're announcing a Bounty Program to recover the stolen assets. We invite the community to participate in:
Bounty 1: Track & Freeze — offering rewards up to $10,000 worth of USDT for actionable intelligence that leads to freezing the funds.
Bounty 2: White Hat Recovery — providing a 5% incentive of the recovered amount as a white hat reward.
For full details and terms, please refer to this blog 👉
Your expertise and collaboration are crucial in these efforts to secure and recover the stolen funds 🙏
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21 Jul 2024, 10:44
The maintenance on the Jeweler system is now completed! To summarize what happened, with more detail below, the LP fees owed to the Jeweler were being collected but not distributed. This has now been corrected and we will be airdropping the appropriate rewards to everyone that has been staked in the Jeweler at any time since its launch.
When the Jeweler2.0 system was adopted, the Uniswap Dex Factory contract was set up to send trading fees to the Jeweler2.0 contract, which in conjunction with the Fee Collector contract, would automatically trade any tokens that were whitelisted into JEWEL, and then disburse that JEWEL as rewards to stakers via the Fee Collector contract. While this process collected fees coming from Liquidity Pools, missing functionality in the contract itself did not allow for the automatic splitting of the LP tokens, meaning they just collected and were not split, sold into JEWEL, and distributed. The maintenance today adds the functionality that was missing.
With today's maintenance, we have upgraded the Jeweler contract to be able to automatically split whitelisted LP tokens, ensuring this process is all automated moving forward. The whitelisted token pairs were selected by a value threshold being met in terms of fees collected, and it is possible that additional pairs will be whitelisted in the future.
As for the fees that have been collected thus far in pools that met the value threshold, we have now manually split those LP seeds, allowing the Fee Collector to trade them into JEWEL, and then placed that JEWEL in the airdrop contract. We have taken snapshots daily of the Jeweler since its inception, and calculated the rewards that each person should have received, had those fees been broken and distributed in real time. We will be airdropping those rewards to each person in the coming days, in order to ensure that all stakers receive the rewards they were owed.
During the maintenance period, you may have noticed increased volatility on every major LP token on DFKChain, but especially on CRYSTAL and JEWEL. All of the collected fees, such as AVAX, BTC, KLAY, ETH, etc, once the LP seeds were split, were then automatically sold into CRYSTAL and then into JEWEL by the Fee Collector, in order to acquire the JEWEL to reward the stakers.
With this process happening correctly in real time, the trades will generally be much smaller and not result in this type of volatility. Additionally, stakers should also see an increase in their normal rewards from the Jeweler.
As always, thank you all for being a wonderful community and we will announce once the airdrop has been completed.
The maintenance on the Jeweler system is now completed.
The maintenance on the Jeweler system is now completed! To summarize what happened, with more detail below, the LP fees owed to the Jeweler were being collected but not distributed. This has now been corrected and we will be airdropping the appropriate rewards to everyone that has been staked in the Jeweler at any time since its launch.
When the Jeweler2.0 system was adopted, the Uniswap Dex Factory contract was set up to send trading fees to the Jeweler2.0 contract, which in conjunction with the Fee Collector contract, would automatically trade any tokens that were whitelisted into JEWEL, and then disburse that JEWEL as rewards to stakers via the Fee Collector contract. While this process collected fees coming from Liquidity Pools, missing functionality in the contract itself did not allow for the automatic splitting of the LP tokens, meaning they just collected and were not split, sold into JEWEL, and distributed. The maintenance today adds the functionality that was missing.
With today's maintenance, we have upgraded the Jeweler contract to be able to automatically split whitelisted LP tokens, ensuring this process is all automated moving forward. The whitelisted token pairs were selected by a value threshold being met in terms of fees collected, and it is possible that additional pairs will be whitelisted in the future.
As for the fees that have been collected thus far in pools that met the value threshold, we have now manually split those LP seeds, allowing the Fee Collector to trade them into JEWEL, and then placed that JEWEL in the airdrop contract. We have taken snapshots daily of the Jeweler since its inception, and calculated the rewards that each person should have received, had those fees been broken and distributed in real time. We will be airdropping those rewards to each person in the coming days, in order to ensure that all stakers receive the rewards they were owed.
During the maintenance period, you may have noticed increased volatility on every major LP token on DFKChain, but especially on CRYSTAL and JEWEL. All of the collected fees, such as AVAX, BTC, KLAY, ETH, etc, once the LP seeds were split, were then automatically sold into CRYSTAL and then into JEWEL by the Fee Collector, in order to acquire the JEWEL to reward the stakers.
With this process happening correctly in real time, the trades will generally be much smaller and not result in this type of volatility. Additionally, stakers should also see an increase in their normal rewards from the Jeweler.
As always, thank you all for being a wonderful community and we will announce once the airdrop has been completed.