Updated: Issue found at CAKE pool. Small issue. Don’t Panic.

Don’t panic. Things are just a bit wrong.

FUNDS ARE SAFU. Keep Calm and Hear Me Out before you do anything.

Updated: Long story short, we didn’t do the math exactly right. Makes users who withdraw later than earlier gets slightly smaller amount of money because we are not using the correct input when withdraw from underlying contract.

Note: I explained it wrong at the previous version. I though the issue is with the amount of shares created at deposit. It’s not. We got it right for issuing shares to new deposits. The part we got it wrong is when withdraw from underlying contract.

What happened?

When withdraw from the underlying contract, we are suppose to use the exact amount of token (some contract take the extract token amount as the input for the withdraw method), rather than the amount of shares user got in the underlying pool (some take amount of shares as input).

As the share price of the underlying pool keep increasing, the amount of shares you get when you deposit will be representing a larger amount of token.

So, when you withdraw and we are using the amount of shares, instead of the amount of tokens we want to withdraw as input, you actually get a bit less than expected.

To avoid further loss to existing users, we have pulled funds from underlying contract and put the pool under Emergency Exit Mode.

What now?

Deposit Stopped. FUNDS ARE SAFU. You Should Withdraw ASAP.

We are retiring the current CAKE pool. New CAKE pool with the issue fixed will be deployed to replace it.

Whoever got affected by this issue will be compensated with GROW token.

Updated: For every 1 CAKE you loss (total withdrawn minus total deposit * 0.999) (0.1% deposit fee was charged by the underlying contract), you will get 0.5 GROW as compensation. (Taken from the dev fund. No GROW token will be mint.)

Tx List: https://www.notion.so/f49b6c0881bd4ff6a7458e7cb1d43efc?v=4634362e6b6d4b6583ef420b294e4994

A total of 10 GROW paid out to 39 investors with more than 0.01 CAKE loss.

At the same time, we are going to do a complete review of our smart contract, therefore we will need extend the Test Flight for a while, official launch time to be announced later.

We are deeply sorry for this issue, should have studied harder at math class.

Keep Calm and Growing On!

🌱 The Growing Team