Here’s a Postmortem Report
Dear all,
Thank you again for your patience and support. We know that we owe you an explanation, so here’s what happened.
As you may know, FM Gallery completed a very successful IDO today on Bounce Certified with a full subscription within ten minutes. The original WAH token distribution was scheduled four hours after the pool close — this will provide enough time for us to set everything straight and launch an authorized pool on Uniswap.
Unfortunately, Bounce Certified enabled token claim only one hour after the IDO completion. This was a violation of our agreement.
Based on the communication with their tech team, it appears that their smart contract had an error, and did not integrate the agreed distribution time.
While their team was working to fix this ASAP on their side, the tokens were still being distributed way ahead of the schedule.
The early distribution led to possibilities of an unauthorized pool without the initial liquidity sanctioned by the team. To solve this crisis, the team rushed through the deployment of Uniswap pool and made a mistake in liquidity-adding steps which led to Uniswap pool being exploited.
We are deeply sorry for the incident. We understand all the inconvenience caused to the community due to this incident, and to ensure the benefits of our community and especially those who put faith and participated in our IDOs, we have come up with a strategy as follows:
1. We will mint a new governance token: $FMG$
2. For all the blind box and IDO participants who completed the subscription, nothing in terms of distribution will change. We will obtain the lists of successful IDO participants from both Bounce and Poolz, and all those addresses will be airdropped $FMG$.
3. More details regarding the launch of Uniswap pool to follow.
WARNING: WAH is NOT the official token for FM Gallery anymore.
For Poolz users, we’ve also been working closely with their team and Poolz has made a very professional announcement. We encourage you to follow their guidance, and we will be here to facilitate as well.
WARNING: WAH is NOT the official token for FM Gallery anymore.
Thank you. Your patience and support are extremely appreciated. Moving forward, we’ll continue to empower the world of arts and fashion with innovative art fragments as well as autonomous fan communities. We believe, by collaborating with top artists, galleries and auction houses around the world, we will continue to release physical and virtual crypto artworks on our blockchain through innovation. We will soon be announcing a brand-new collection of our blind boxes, and we look forward to sharing more exciting details with you.
The current Uniswap pool is not supported by FM Gallery. For users transacted with that pool after this announcement, FM Gallery will not be responsible.
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