Community Update — Snapshot Information and Token Distribution

Published in
6 min readFeb 7


Following the exploit on BonqDAO on 1 February 2023, the AllianceBlock team has promptly launched a response team focusing on several key aspects. This article outlines the token distribution scheme for ALBT token holders, liquidity providers, stakers (including Fundrs), and traders.

In the past few days, we have received overwhelming support from our ecosystem partners, key opinion leaders, exchanges, collaborators and industry peers. Above all, we are grateful for the commitment, respect and understanding we received from our AllianceBlock community members worldwide. The team is acting as quickly as reasonably possible to release a new token and distribution plan that is equitable, transparent and within reason. The following principles are the foundation of our distribution plan:

  1. Holders and stakers will receive the same amount of ALBT tokens they had before the incident.
  2. The new token will only be distributed after the full audit (currently in progress) of the new token.
  3. The node allocation will not be part of the token distribution, reducing the total supply of the new tokens to 850 million. The hacker’s address will be omitted from the distribution scheme.
  4. The AllianceBlock founders have decided to dedicate a significant amount of their own team token allocation (up to 15 million) for (a) users that held ALBT in troves on BonqDAO and (b) Reasonably distribute the new tokens to people who have traded for some time after the incident

Key Definitions

Below are the definitions for some of the terms used in explaining the token distribution:

  • Snapshot. A snapshot is a record that captures all balances of wallet addresses and contracts on the blockchain at a specific moment. This includes balances in hardware and software wallets and on exchanges.
  • Token Distribution. Token distribution is the method through which a new token will be created and sent or made claimable to eligible users depending on their wallet activity in between the snapshots.

Stakeholders and Eligibility

Before we dive into the scheme’s details, it must be noted that the activities of our stakeholders (token holders, stakers, liquidity providers, CEXes and traders) are, to a large extent, beyond our control. Nevertheless, we understand the complexity of their situation, which is why we considered those stakeholders’ interests when designing the new token distribution scheme.

Based on discussions with the response team, the following stakeholders and their eligibility have been identified.

Holders. Holders are users who have held the legacy ALBT tokens in their hardware or software wallets throughout the incident and never traded ALBT tokens during or after the incident until 24 hours after the Twitter announcement.

  • Holders are eligible to receive 100% of their tokens.

Liquidity Providers. Liquidity providers are users with positions in liquidity pools with ALBT in our BNB pool, AVAX pool, MATIC Pool, EWT (Energy Web Token) pool and pools on Ethereum.

  • Liquidity providers will receive 100% of the ALBT side of their positions at the time of the snapshot.

Stakers. Stakers are users who have staked their tokens in the two-year and four-year Hardcore NoMercy staking pools, on Fundrs or in Liquidity Mining Campaigns:

  • Users in staking pools will receive 100% of the amount of ALBT staked and their rewards, although still locked for the remainder of the staking campaign.
  • Users who have staked in Fundrs will continue staking with the same amount of ALBT they already had, still locked if applicable, and with the same rALBT balances.
  • Users who participated in AllianceBlock liquidity mining campaigns will receive the ALBT side of their positions at the time of the snapshot including their rewards.

Buyers. Buyers are users who bought ALBT tokens on DEXes up to 24 hours after the Twitter announcement of the incident.

  • There is a special distribution scheme for this group, explained in the “Snapshot” section.

Sellers. Sellers are users who sold ALBT tokens on DEXes up to 24 hours after the Twitter announcement of the incident.

  • There is a special distribution scheme for this group, explained in the “Snapshot” section.

Traders. Traders are users who have bought and sold ALBT tokens on DEXes up to 24hrs after the Twitter announcement of the incident.

  • There is a special distribution scheme for this group, explained in the “Snapshot” section.

Users on Centralized Exchanges (CEXes). The new tokens will be distributed to Centralized Exchanges according to the information provided to AllianceBlock. Please wait for official announcements from your CEX and follow their instructions carefully.


The snapshot was taken on 1 February 2023 at 11:04 PM CET, when withdrawals/deposits were halted on CEXes. CEXes will have their own token distribution scheme, and AllianceBlock will distribute tokens based on on-chain data:

  1. People that held 100% and/or had tokens in Allianceblock smart contracts will receive 100% of their tokens.
  2. People who traded before the snapshot will get the tokens distributed in their wallets at the time of the snapshot.
  3. People who traded between the snapshot and up to 24hrs after the Twitter announcement will fall under the compensation scheme with a “fall-off function:” (a) Buyers will receive a part of their purchase and (b) Sellers will receive a percentage of what they sold.
  4. People who had a mix of trades between the snapshot and 24 hours after the announcement will get compensated based on the price on Uniswap ($0.03), at the moment of the snapshot (as a reminder, the snapshot is taken at 23:04 CET, a few hours after the incident ook place), using the same aforementioned fall-off function.

It is important to note that CEXes, where ALBT is officially listed, were promptly notified of the incident. Pausing or stopping trades is subject to the CEXes’ internal procedures and decision-making. Any actions related to trading activity on CEXes were fully beyond our control. We have also paused all activity on the AllianceBlock Bridge to prevent the access of liquidity on other networks.

Fall-Off Function
For traders, buyers or sellers, the number of tokens they will receive will be proportional to the tokens they bought or sold and will be determined by a fall-off function that considers the snapshot up to 24 hours after the Twitter Announcement.

Buyers (DEX)
Following the Fall-Off function, buyers will still receive a part of their purchase.

Sellers (DEX)
Following the Fall-Off function, sellers will receive less than they sold and will still receive a fair percentage of ALBT.

Traders (DEX)
For traders, the Fall-Off function will apply. The amount of time between trades and the price of ALBT tokens at those times means traders have taken an additional risk, which is beyond our control. Because of this, depending on their transactions, traders may receive fewer tokens than they initially had at the time of the Twitter announcement.

Next Steps

The response team is working hard on preparing the onchain token distribution process. In the next few days, you can expect a follow-up blog introducing the new token with timelines.

Please be vigilant against scams and fraudulent messages on Twitter and Telegram. Since the announcement of the exploit, some impersonating and scam Twitter accounts and Telegram users have popped up “offering assistance” or “support” to distribute the new token.

The AllianceBlock team and community managers will NEVER PM YOU FIRST, and there are no other accounts that the official ones. Please stay tuned for information only on official AllianceBlock profiles and channels on Twitter, Telegram Announcements Channel and Telegram Community.

Additional Translations

About AllianceBlock

AllianceBlock is building seamless gateways between decentralized and traditional finance by remedying issues in both spheres and linking them more closely. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.

By bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects, and ecosystem-scaling tools such as funding and interoperability, AllianceBlock is building a next-generation financial infrastructure that aims to provide regulated financial entities around the world with the tools they need to access the DeFi space seamlessly.

Official Announcements on Telegram and Twitter.




AllianceBlock builds seamless gateways between DeFi and TradFi with an end-to-end infrastructure for blockchain builders.