Dear community,
We are deeply sorry for what happened during the rebase period. We'll explain briefly what went wrong and how we intend to fix it.
We promise you all this - we are NOT going anywhere.
The Soft Yearn team has decided to pursue the following resolution:
1) Recreate the SYFI token
2) Airdrop everyone the amount of tokens they had before the rebase.
3) Adding at least 250 ETH to the initial liquidity pool. Some people have contacted us stating that they will help contribute too.
4) Fix the rebase mechanism.
What happened
During our first rebase at 8:00 UTC, September 3rd, 2020, a malicious actor bought 2 SYFI, and timed the adjustment of their token holdings with a Uniswap sell. During the transaction, the rebase applied, but Uniswap price remained unchanged, thus, the perpetrator's sell was amplified to the extent of wiping out most of the liquidity provided in the Uniswap pool. The rebase itself was also incorrect. The YFI rate per SYFI was not streamlined properly.
This particular transaction can be found here: https://etherscan.io/tx/0xbb45a3aaa222432f50974b4be0852445e446698d33b0fcd47a4f627a2764ea83
We are offering a very large sum of ETH as bounty for anyone who can identify and apprehend the wrongdoer(s).
The Soft Yearn team is devastated by this event.
We understand everyone's frustration and anger, please bear with us while we work on sYFIV2 to fix things.
Although this was a major setback, we believe we can come back stronger as we initiate our migration plan.
Please follow our official announcement channels to stay up-to-date with our plans.
Our official chats will remain muted temporarily.
We are deeply sorry for what happened during the rebase period. We'll explain briefly what went wrong and how we intend to fix it.
We promise you all this - we are NOT going anywhere.
The Soft Yearn team has decided to pursue the following resolution:
1) Recreate the SYFI token
2) Airdrop everyone the amount of tokens they had before the rebase.
3) Adding at least 250 ETH to the initial liquidity pool. Some people have contacted us stating that they will help contribute too.
4) Fix the rebase mechanism.
What happened
During our first rebase at 8:00 UTC, September 3rd, 2020, a malicious actor bought 2 SYFI, and timed the adjustment of their token holdings with a Uniswap sell. During the transaction, the rebase applied, but Uniswap price remained unchanged, thus, the perpetrator's sell was amplified to the extent of wiping out most of the liquidity provided in the Uniswap pool. The rebase itself was also incorrect. The YFI rate per SYFI was not streamlined properly.
This particular transaction can be found here: https://etherscan.io/tx/0xbb45a3aaa222432f50974b4be0852445e446698d33b0fcd47a4f627a2764ea83
We are offering a very large sum of ETH as bounty for anyone who can identify and apprehend the wrongdoer(s).
The Soft Yearn team is devastated by this event.
We understand everyone's frustration and anger, please bear with us while we work on sYFIV2 to fix things.
Although this was a major setback, we believe we can come back stronger as we initiate our migration plan.
Please follow our official announcement channels to stay up-to-date with our plans.
Our official chats will remain muted temporarily.
Ethereum (ETH) Blockchain Explorer
Ethereum Transaction Hash (Txhash) Details | Etherscan
Ethereum (ETH) detailed transaction info for txhash 0xbb45a3aaa222432f50974b4be0852445e446698d33b0fcd47a4f627a2764ea83. The transaction status, block confirmation, gas fee, Ether (ETH), and token transfer are shown.