Lamden Link Activated
It’s been a long road to recovery since the exploit took down Lamden Link but I am very happy to report that the Lamden Link bridge is now back up!
Here are some things you should know.
New BSC TAU contract
The exploiter bridged a sizeable amount of TAU to BSC and that caused us to pause the BSC TAU token contract to prevent a sell-off on Pancake Swap.
We have deployed a new TAU token contact on BSC and airdropped everyone their balances back, except the exploiter.
The new token contract is now unpaused and you can begin to trade on PCS again.
New TAU contract address (add to your crypto wallet)
Trade on Pancake Swap
Limited Tokens
We removed all tokens from the bridge except for LUSD/BUSD and TAU. So right now that’s all you can bridge. For most people that is enough.
We will be activating ETH within the next week or so.
As far as LIQ, BDT and DC are concerned we do not have the liquidity to restore these on the bridge yet. However, we will make every effort in the new year to restore these tokens.
Liquidity
Lamden had to burn all of their WETH and LUSD liquidity on Rocketswap. This allowed Lamden to absorb the financial loss of the exploit and not pass it on to the community. For now, I encourage the community to provide liquidity to the LUSD/TAU pair as we aren’t able to replace it in the short-term.
The Bridge BSC contract will be 100% funded with an amount of BUSD equal to the total LUSD that exists on Lamden.
When it becomes available, the WETH bridge to Ethereum will be 90% funded with the hopes of getting it to 100% in the future.
The TAU/BNB pool on Pancake Swap will remain as liquid as it was before, there is no change there.
New Bridge Feature
The bridge is made up of two types of contracts. One that handles tokens created on Lamden (Lamden Native Bridge) and one that handles tokens created on Ethereum Based Blockchains, like BSC (ETH Native Bridge). Previously to this update, the Lamden Native Bridge was only able to handle one token, TAU. But the new contract can now handle multi-tokens and as such, we can add other Lamden Based tokens to the bridge!
More on this to come and how project owners can bridge their tokens to BSC later.
Housekeeping
In order to move funds out of the old BSC bridge contract I had to mint and burn LUSD on Lamden. I did it incorrectly the first time so, I had to do it twice. For transparency, here are those transactions.
ATTEMPT #1
MINT 38,887.65 LUSD on Lamden
Burn 38,887.65 LUSD on Lamden
Withdraw tokens from old BSC Lamden Link contract (FAILED INVALID NONCE)
ATTEMPT #2
RE-MINT MINT 38,887.65 LUSD on Lamden
RE-Burn 38,887.65 LUSD on Lamden
Withdraw tokens from old BSC Lamden Link contract
