End of an era
Thank you for being with us.
Hello Sharks
If you have been in the chat group or followed our Twitter account for the past couple of months, you will know that things weren’t looking up for the AutoShark project.
Our past 2 launchpads were failures, and the Atlantis Protocol is currently reeling from ex-apexes who abused our trust and dumped the farmed $ATLAS with their early unlocks as they had the early access links given to them for beta testing.
We had a mediation session where the AutoShark team tried to negotiate for them to regain their $ATLAS invested capital with a small profit, and send the remaining farmed $ATLAS to a burn address. Sadly, this did not happen and the early unlocks killed the price.
You can look at the two offending addresses here:
0x79315a2A08706eF97fAd0e3c9a89C4C2b42b6972
0x1bFb00d16514560bb95d4312FDD39553395077aF
The team has decided to make the logical choice to prevent loyal community members from buying the ever dipping native tokens, and not delay the impending doom of AutoShark.
Therefore, we would like to announce we are stopping all development on the AutoShark platform.
What happens to $FINS, $JAWS, & $ATLAS?
The AutoShark protocol had always been built with the people in mind. We believe in fair and equitable gains for everyone. Even as we draw an end to this chapter, we still believe that all the profits and treasury accumulated from the AutoShark protocol should be redistributed to our loyal community members.
For $FINS and $JAWS, we will leave all our liquidity of the native tokens as it is so that users will have an equal chance to remove their liquidity and liquidate their tokens. The dividend pools for $FINS and $JAWS will remain for users to draw out the remaining BNB left in the pools.
Please access the dividend pools here: https://autoshark.finance/dividends
The JAWSminter will also be switched off for stakers to withdraw their rewards without any fee deduction. This essentially means that there will be no new $JAWS minted, and will allow existing $JAWS holders to farm the dividend pool without any further dilution.
For $ATLAS, the tokens in the Atlantis Treasury (except $FINS & $JAWS) will be liquidated to BNB and a staking pool will be formed for users to stake over a period of 1 month.
Our way of redistributing BNB to $ATLAS holders is our way of ensuring that users will not get dumped on, as each ATLAS token will have a fair value backed by BNB.
All in all, there will be:
$564,885.87 USD of JAWS-BNB LP as POL that will be distributed as BNB rewards to JAWS holders
$207,899.87 USD of FINS-BNB LP as POL that will be distributed as BNB rewards to FINS holders
ATLAS has ~$1,360,000 USD to be distributed as BNB rewards to ATLAS holders
Dev tokens
We would like to highlight that no tokens have been sold by the dev team for months. The main bulk of dev salaries was derived from the WBNB pools, which were farmed alongside the community. The only tokens that were directly liquidated are for salaries for our CMs and BDs.
All existing $FINS, $JAWS, & $ATLAS tokens held by the team will be sent to a burn address.
NFT buyback from Snide Shark holders
We thank all Snide Shark holders for having supported our dream of creating a strong digital identity in our NFT plans. NFTs being illiquid, we thought that it would be only fair that the team uses our own funds to be redistributed back to the community.
Currently as it stands, there is ~200 BNB in our dev wallet, we will seek to redistribute all these to NFT holders by setting up a contract to allow NFT holders to burn their shark NFTs for BNB.
Please access the buyback contract here: https://autoshark.finance/nft/release
Nervos Network launch?
We are forgoing the opportunity to deploy the Yield Optimizer arm on Nervos, mainly because of the outcome of the 2 previous launchpads. Furthermore, we feel the negative sentiments from the BSC platform will spill over and affect the Nervos launchpad and $APEX token, which is something that we would like to protect the prospective investors from.
A final note from the team
It is a sad day for all sharks, but it is not without cause. Everything we have done had been for the community. Multiple exploits have served to weaken the AutoShark reputation. Coupled with a bearish market, most funds have fled the AutoShark protocol, leaving us high and dry. Having tried all possible means, it is tough to restore our ecosystem from weak sentiments and a weak market.
We appreciate all of you community members that have always been around and reading the banters on telegram has always put a smile on our faces. The milestones we went through together when AutoShark was at its peak will not be forgotten. The APEX team has been the best voluntary community members that we have had, and we appreciate their help in maintaining the AutoShark chat for the past year.
To end this on a positive note, we thank everyone for being with us on the AutoShark journey. The team has no plans to start another project at the moment, but will be going our own separate ways instead. We do sincerely hope that our paths will cross as fellow DeFi investors and that our vested projects will be bountiful and harvest-rich.
