We continue to develop the Cellframe mainnet.
06 Jun 2023, 13:38
We continue to develop the Cellframe mainnet. To show the progress visually, we demonstrate data on commits in gitlab, which shows the number of changes in the code for the period from May 26 to June 5 for all our projects.
#stake_cellframe #cellframe_news #staking
Same news in other sources
107 Jun 2023, 07:35
At the request of the community, here is more information concerning the transaction we recorded on June 1st, as a result of which 245 BNB was withdrawn using a flash loan.
Generally speaking, nothing is withheld, since all information pertaining to transactions is open and accessible, but we always err on the side of security and aim for full transparency, thus we decided not to brush this under the carpet, and want to explain what exactly happened.
Flash loans are an option provided by popular DeFi protocols. It allows you to borrow cryptocurrency without collateral, but with the condition that the debt will be returned in the same transaction block. There are many cases in which funds have been withdrawn from exchanges using the Flash loan mechanism, which was designed to operate for benign purposes.
Our two tokens - the old V2 and the new V3 - were linked by one migration contract. At the same time, there was very little liquidity in the old token - this made it possible to manipulate using the flash loan function. And if it's possible to manipulate something, then for some people it would be rude not to take advantage of the situation, right?
The modus operandi is quite well-known - the smart contract did not take into account the spread between liquidities during the migration. The amount of funds in the old pool was limited, since you are actively migrating your tokens (special thanks to you for that), so the withdrawal amount was not critical for us. Although we'd be lying if we told you it was a pleasant situation...
This is the price we paid to gain valuable experience: once bitten, twice shy.
The team is still as positive as ever, and is preparing the mainnet with even more determination.
In the following posts, we will answer your most frequently asked questions, tell you about the next steps we took, reveal our roadmap to making further progress.
And next week will be our scheduled AMA session, where we usually talk about our news and progress on the way to the mainnet.
Let's stick together. Onwards and upwards!
#staking #cellframe_news
At the request of the community, here is more information concerning the transaction we recorded on June 1st, as a result of whi
At the request of the community, here is more information concerning the transaction we recorded on June 1st, as a result of which 245 BNB was withdrawn using a flash loan.
Generally speaking, nothing is withheld, since all information pertaining to transactions is open and accessible, but we always err on the side of security and aim for full transparency, thus we decided not to brush this under the carpet, and want to explain what exactly happened.
Flash loans are an option provided by popular DeFi protocols. It allows you to borrow cryptocurrency without collateral, but with the condition that the debt will be returned in the same transaction block. There are many cases in which funds have been withdrawn from exchanges using the Flash loan mechanism, which was designed to operate for benign purposes.
Our two tokens - the old V2 and the new V3 - were linked by one migration contract. At the same time, there was very little liquidity in the old token - this made it possible to manipulate using the flash loan function. And if it's possible to manipulate something, then for some people it would be rude not to take advantage of the situation, right?
The modus operandi is quite well-known - the smart contract did not take into account the spread between liquidities during the migration. The amount of funds in the old pool was limited, since you are actively migrating your tokens (special thanks to you for that), so the withdrawal amount was not critical for us. Although we'd be lying if we told you it was a pleasant situation...
This is the price we paid to gain valuable experience: once bitten, twice shy.
The team is still as positive as ever, and is preparing the mainnet with even more determination.
In the following posts, we will answer your most frequently asked questions, tell you about the next steps we took, reveal our roadmap to making further progress.
And next week will be our scheduled AMA session, where we usually talk about our news and progress on the way to the mainnet.
Let's stick together. Onwards and upwards!
#staking #cellframe_news