Updates on $WAR PentaLaunch Auction
By PentaLaunch Team
Earlier today, a community member who claimed himself to be a white hack hacker, refunded all USDC he withdrew from the two $WAR curves forged on April 29, 2021. The white-hat hacker also sent a message to PentaLaunch and Dora Factory community telegram channels. Later, the PentaLaunch team confirmed receival of the funds. Because of the refund, our investigation into the second curve has paused.
The First Forged Bonding Curve
The first forged $WAR bonding curve lasted 24 hours. Most of the users who bought on the first bonding curve sold their tokens on the curve later and took back their USDC. An analysis of the first curve can be found in our previous announcement: https://dorafactory.medium.com/follow-up-announcement-on-pentalaunch-auction-acc87c8a336a
A Chinese version of the previous announcement is available too: https://matataki.io/p/8670
The PentaLaunch team will follow the approach described in the announcement for refunds of all addresses that have a loss.
The Second Forged Bonding Curve
The second forged $WAR bonding curve only lasted 7 minutes. The address of the curve can be found here: https://curve.auction/#/e/0x682e8c49446eedce17a1a44c3eb76e2e20eaabc6
The PentaLaunch team will follow the same approach described in the previous announcement to evaluate the loss of addresses on the second bonding curve.
Evaluation and Payments
A few hours after the first bonding curve was closed, the PentaLaunch team executed a script and obtained a list of addresses and their PnLs from both bonding curves. Here is how the PnL of an address is calculated:
PnL(address) = USDC(total_in) — USDC(totao_out) + 30 USDC gas fee relief
If the PnL of an address is greater than 0, we consider that the address has a loss from trading on the forged $WAR bonding curves, and a USDC payment will be made to the address directly.
Based on the calculation, a total of 32840.687 USDC payment will be airdropped to 117 addresses that have a PnL greater than 0 (a loss).
The payment will be processed at 11:00 am May 1st, 2021 SGT. Because of the high gas fee on Ethereum, all USDC airdrops will be made on Binance Smart Chain. Please make sure to switch your wallet (e.g. MetaMask) to Binance Smart Chain mainnet to receive the USDC airdrops.
Please refer to BSC RPC docs for wallet configurations: https://docs.binance.org/smart-chain/developer/rpc.html
The BSC USDC smart contract address is: 0x8ac76a51cc950d9822d68b83fe1ad97b32cd580d
We appreciate all the support from the Dora Factory community and WeStarter team during this event. With the “stress test” from the white-hat hacker, we can further improve the product.
The real $WAR auction on PentaLaunch was a success. 120,000 WAR tokens were sold out within 7 minutes. The real WAR PentaLaunch bonding curve can be found here: https://curve.auction/#/e/0xe6741aBB4c73446C31c74c820e16353F36C3c75F.
The PentaLaunch V1 (current version) is a decentralized bonding curve auction protocol. Anyone can create a bonding curve auction of any token. Please be aware of the risks of such auctions and always double-confirm the token smart contract addresses before you participate in any future auctions.
Although the smart contracts cannot be changed in this version, the PentaLaunch team is making several frontend improvements to safeguard user assets. Details of the upgrades will be announced later in a separate article.
We hope you can enjoy future events on PentaLaunch!
Telegram:https//t.me/pentalaunch
