BlueBenx Smart Contract Upgrade

Hello BlueBenx Community,

On the night of July 25, 2022, BlueBenx was targeted by scammers and over 25 million units of the BENX token were stolen, which caused DeFi’s liquidity pools to collapse. To preserve the remaining funds, provide security for our holders and continue the BlueBenx initiative, our team has made important updates to the BENX token quantitative aggregation algorithm and we have decided to issue a new smart contract.

The new BSC smart contract address:

0x315bE92AbA5C3AaAf82b0C0C613838342c1416E7

Advantages of the new Smart Contract

The updated smart contract will allow the quantitative liquidity acceleration protocol to return safely and with greater pooling efficiency. Token holders can benefit from the smart contract update in the short and long term:

• Short term: the growth and adoption of BENX will be directly reflected in the value due to the reduction of the available amount of tokens (1:10) and the reallocation of the remaining funds in USDT in the new LP’s in DeFi.
• Long Term: Significantly reduced insolvency risks, dramatically reducing the likelihood of a bank run-type event.

For CEX users: The BlueBenx team will inform centralized exchanges that support the BENX token about the observed remapping. Each exchange, not BlueBenx, will be responsible for proceeding with the update on behalf of its users. Since only customers who prove the acquisition of BENX will have their tokens exchanged.

For DEX users: For users who previously staked BENX on a DEX (decentralized exchange) or similar DeFi platform, redeem your assets back into your wallet before pausing the previous contract. Otherwise, your tokens will be lost.

While innovations and tweaks across the BlueBenx ecosystem, the recovery is just beginning. July 26th marked the beginning of a long and difficult road to recovery that is yet to come. We believe in the full recovery of the BlueBenx ecosystem in the coming years and we will continue to work to expand Blockchain access and democracy.

All questions from the recent BENX smart contract upgrade will be clearly answered in further announcements.

Our team is here to support you and answer any questions you have along the way. We’ll post reminders to Twitter and send updates over the course to keep you informed.

And if you have additional questions, please let us know at benx@bluebenx.com.