Post mortem — deposit/withdraw stNEAR on Skyward
As everything involves decentralized applications and smart contracts there is no dull moment. Yesterday we have started the pre-sale period of the Meta Pool IDO on Skyward, many of you have started depositing on the platform in order to get a head start and we value this initial support.
One of the reasons we selected Skyward as our launchpad partner is because token holders can withdraw their stNEAR tokens if they do not want to participate on the IDO; for us this permissionless feature is one of the key aspects that attracted us to the platform.
We are closely monitoring the Skyward Telegram Group and it was brought to our attention that some users started posting messages regarding the withdrawal of their stNEAR tokens, the Skyward community team did a great job at bringing these issues to us.
So we started to review the transactions on the NEAR explorer and we quickly found the root cause of the issue, basically insufficient gas was being allocated to the transaction used to withdraw stNEAR to the user wallet.
Delivering a solution.
Thanks to the support from the Skyward development team, we worked together to understand how to solve the issue. As everything we do in software development there are some compromises that we need to make in order for the IDO platform.
We had to upgrade the contract behind the stNEAR token and now you will be able to deposit/withdraw on the IDO launchpad. The compromise is the time it takes for the contract to send the stNEAR back to the depositor’s wallet on withdrawal actions, which will experience a delay of one to four hours, because the transfers will be processed in batches.
After testing on testnet we deployed the contract to mainnet and it is in production. So depositors should not experience errors anymore, besides the now expected delay.
If you do experience issues, please report it to our #ido-skyward channel on our Discord server.
Important: For those users that have been affected during the first day of the pre-sale, specially those that requested the withdraw before December 8th at 13:00 UTC, we want you to know that your stNEAR tokens are not lost and they will be returned to you. So please join this Telegram group so we can follow up properly on your withdrawal request — Link.
Moving forward with the IDO.
We are really excited for the IDO on Skyward, we know that these scenarios are sometimes unpredictable. This comes with the territory of exploring new possibilities, this is the first Skyward IDO that uses an NEP-141 token, stNEAR, as payment, and this came with a lesson learned for everyone in the NEAR ecosystem.
Sometimes the first one’s to travel an unknown territory face these types of challenges, and as founders we are responsible to deliver solutions to the unexpected.
We apologize for any inconvenience, but remember that we are pushing the envelope on what is being built on top of the NEAR Protocol. There will be hits and misses, but rest assured that our top priority is all of you and our supporters.
Thank you for all your support and we will continue to deliver value to the NEAR Ecosystem and all the NEAR token holders. You are the reason we are building and creating on NEAR, we value your comments and we will come out stronger.
Keep on staking!
Claudio & Lucio
