Nebulas’ Swap.NextDAO will be upgraded to version 1.1 and will fix an issue related to the use of nUSDT. At that time, users who have provided liquidity will be required to move their assets to the latest version.
Beginning on January 26th, Beijing time, the nUSDT related services in Swap failed. This issues involves the swapping and sending of nUSDT as well as the addition or removal of liquidity for nUSDT-related pairs (nUSDT-NAS, nUSDT-NAX).
The current bug will cause the failure of nUSDT related services but does not affect the security of users’ assets. Users who have pledged LP can continue to obtain and receive benefits. NAS-NAX pairs and Link services are also not affected.
When the Swap smart contract processes a transaction, it determines when the transaction occurred and at that point, the on-chain transaction count increases sequentially. The current contract uses a transaction timestamp. Some transactions did not use the correct timestamp when submitting the transaction on January 25th, Beijing time. As a result, the transaction timestamp was significantly higher than the current timestamp, and the new transaction time verification failed. Details will be further announced after version 1.1 goes live.
Swap contract address
Update to fix the problem:
The nextDAO team communicated with the Nebulas development team and a solution has been extrapolated. In the upcoming version 1.1 release, the timestamp used by the contract will be replaced with the block timestamp to ensure that the transaction sequence always matches the on-chain time thereby permanently solving this issue.
Asset migration for affected users:
This affects all users who have added liquidity via the current swap.nextDAO 1.0 version (including nUSDT-NAX, nUSDT-NAS, NAS-NAX):
- Holders of LP tokens: You will need to remove all liquidity from the pools. Liquidity Pool tokens (LP) can be seen in NAS nano pro or via the Chrome extension wallet.
- Staked LP tokens: If you participated in LP staking, you will need to cancel the stake in full (all benefits will be automatically received when canceled) and remove all liquidity. If you are not sure if you participated in LP staking, you can verify your status at the swap.nextdao.io/stake page.
- Cancel all LP stakes: Please complete the steps in version 1.0. The current version will continue to provide services until the migration is completed.
- Remove all liquidity: Because the liquidity of nUSDT-related pairs cannot be removed in the current version, an offline version of the relocation tool will be released when version 1.1 is launched and will help users complete the migration process. We ask all affected to wait patiently while this tool is being developed.
- Once version 1.1 is released, you will be able to resubmit your liquidity as well as stake LP tokens and continue to receive incentives.
Staking LP incentive pool migration
After 1.1 goes online, the Swap incentives will be invested in the incentive pool for version 1.1. Staking LP tokens in the 1.0 version will no longer receive benefits.
This upgrade does not affect asset security, nor does it affect the use of the Nebulas blockchain as well as other DApps on the network. Please watch for future announcements from swap.nextDAO and Nebulas for the specific migration updates.
Thank you to all who have supported nextDAO.