The AutoShark Version 2.0

🦺 A safer platform for all

It’s been a week of constant development for the AutoShark team, and we are almost ready with the relaunch of the platform. Our developers have been working round the clock and ensuring that our v2.0 will be more robust and equipped to prevent and mitigate such exploits. In case you’ve missed it, here’s a recap of what the team members have been doing, with one minor change:

• We have decided to go ahead with WatchPug for a full audit instead of Peckshield as previously mentioned. The reason is that we wanted to work according to the timeline set out by the team and PantherSwap.

🐌 Hence the delay….

WatchPug has already commenced work and is hopeful for audit completion by the end of the week. With that being said, the launch of the platform will only be after the audit is completed with no major issues. This time around, we are not taking security for granted, and we really mean it. We aim to have full platform functionality by the end of the first week of June.

We will be airdropping JAWS for SHARK holders/SHARK LP holders together with the launch of the platform. Audited products such as the JAWS for WBNB vault must be released along with the airdrop to avoid the downward selling pressure of the new token.

We hope you understand the reason for delaying the launch, so as to truly safeguard the interests of our investors.

Airdrops for users who bought and made losses after the exploit will be scheduled at a later date. The original SHARK holders who were there from the start will be prioritized in the first phase of recovery.

📐 Compensation Calculation

LP holders! We have kept you waiting for answers all week. You guys form an important part of the AutoShark ecosystem by providing liquidity for our token and we hope you will be satisfied with our compensation plan.

LPs compensation calculation

Before exploit:
1 SHARK-BUSD LP = $2.22
1 JAWS = $1.2
1 SHARK-BUSD LP = $2.22/$1.2 = 1.85 JAWS as replacement

1 SHARK-BNB LP = $40.21
1 JAWS = $1.2
1 SHARK-BNB LP = $40.21/$1.2 = 33.5 JAWS as replacement

SHARK holders / SHARK pool compensation

1 SHARK to be compensated with 1 JAWS

👫 Conclusion

There will be numerous voices slamming the delay of the platform launch. There will be anger and calls for blood. After all, we did miss the deadline set out by us a week ago. The AutoShark team would like to relaunch ASAP but will not compromise safety and security issues this time. Please let us work at a comfortable pace so that we can invigorate and restore the confidence of yield farmers again.

To those who understand our intentions and stood by the team, know that we’ve been reading the chat and are very grateful for your kind and heartwarming words. We’re still here for you 😁 Farm safe!

🦈 Website: https://AutoShark.Finance
🦈 Telegram Group: https://t.me/AutoSharkFinance
🦈 Announcement Channel: https://t.me/AutoSharkAnn
🦈 Twitter: https://twitter.com/AutoSharkFin
🦈 Gitbook: https://docs.autoshark.finance/autoshark
🦈 Github: https://github.com/AutoShark-Finance