O3 Labs
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O3 Labs

To O3 Community — Regarding White Hat

Depending on communication between the Poly Network Team and Mr. White Hat, the user assets of BSC and Polygon networks have been returned and the assets of the Ethereum network were transferred to the multisig wallet jointly controlled by Mr. White Hat and the Poly Network Team, except the frozen USDT (approx. 33M USDT) on Ethereum. The assets transfer still requires authorization from Mr. White Hat for the assets to be transferred back to the project repayment address.

The process of repayment is not yet fully completed. To ensure the safe recovery of user assets, the Poly Network Team will continue to maintain a smooth flow of communications with Mr. White Hat and to convey accurate and responsible information to the public. Any unfounded rumors may compromise recovering assets.

The O3Labs Team will work with every community member and partner to push things forward for the better and achieve the ultimate goal of all assets return and cross-chain service recovery as soon as possible.

Updates on O3 Swap regarding the restoration:

1. Keeping communication with Poly Network Team. Restoring user assets is the primary goal of O3 Swap recently. Jointly Developing a secure and reasonable user assets manipulation scheme (add/remove liquidity).

2. Working with multiple security teams to re-audit the contracts (currently in process safely) and will release a new global bug bounty program.

3.Restart O3 Swap cross-chain Pool (O3 Hub) and restore cross-chain trading, liquidity operation, and other related functions once Poly Network mainnet re-online safely. New supported Networks will also be announced soon.

Sneak Peek of V2:

O3 Swap V2 and product development roadmap in preparation.

17th August

The cross-chain function of O3 Token will be resumed very soon. Users can freely swap O3 among four networks ( ERC-20/BEP-20/HRC-20/Polygon).

18th August

The cross-chain function of O3 Token has been partially restored, and users can freely swap O3 across ERC20/BEP20/HRC20 NOW! The Polygon chain will be functional in a few days and services of other cross-chain pools will also be recovered soon. Please be patient for the subsequent updates and thank you for your understanding and support!

19th August

The return of stablecoin pool has been completed, and we will resume the stablecoin cross-chain pool as soon as possible after DAI are converted to USDC and USDT are unlocked.

21st August

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O3 Swap’s USDC cross-chain pool will be resumed on 23rd August. Meanwhile, O3 Swap’s Liquidity Provider Rewards Program will be announced. Users will be able to swap USDC across Ethereum, BSC, and Polygon networks, and freely add/remove USDC-LP simultaneously.

In addition, the cross-chain pools of USDT, ETH, and BTC-pegged will be gradually re-opened regarding the refund progress of Poly Network.
Thank you for your understanding and support!

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Fully restored the cross-chain function of O3 Token

24th August

After a great deal of communication with Mr. White Hat, all funds have been returned!

As a token of our gratitude to thank the white hat hackers, the O3 Labs Team has transferred $200,000 in O3 tokens to Mr. White Hat’s address according to the official maximum bonus of our “O3 Bug Bounty” program.

We appreciate the protection and return of funds from Mr. White Hat and express our highest respect to Mr. White Hat and all the cyber security experts in the blockchain space. We will restore the O3 cross-chain pool as soon as possible and rebuild the O3 Swap.

Thank you all for your continued support!

O3 Swap’s USDC cross-chain pool has NOW resumed! Users can freely swap USDC across Ethereum, BSC, and Polygon networks, and add/remove USDC-LP simultaneously. Furthermore, we will issue an O3 NFT as a reward to USDC cross-chain liquidity providers who follow the liquidity rules.

Liquidity Provider Reward Program Rules:

1.Stake USDC-LP before Polygon blocks 18344805 (Approx. 16:00 UTC August 24th 2021)

2.No Unstake USDC-LP before Polygon blocks 18863205 (Approx. 16:00 UTC September 8th 2021)

Important Tips:

O3 NFTs will be randomly rewarded to the eligible users. The attributes and values of O3 NFTs depend on the amount of staked USDC-LP. (at least 100 USDC-LP)

We will airdrop O3 NFTs to the eligible users with addresses snapshots (ERC-20). The O3 NFT can be used in O3 Swap V2 for mining, collecting, trading and governance purposes.

Notice: Please pay attention to the slippage regarding the big liquidity removing from the cross-chain pool intensively.

26th August

  • O3 Swap’s ETH-pegged Pool and BTC-pegged Pool are restored.
  • O3 Swap Liquidity Provider Rewards Program was released! (ETH-Pool / BTC-Pool / USDC-Pool) Check

27th August

  • O3 Pool (USDT) has been NOW restored! Users now can freely swap USDT/ BUSD/HUSD #stablecoins and add/remove LP-USDT simultaneously on https://o3swap.com/hub
  • USDT Pool Liquidity Provider Rewards Program was released. Check

We’re back! O3 Swap has finished restoring the functionality of all supported cross-chain pools. We really appreciate your patience and trust. Thank you a ton for the continued support!

Stay tuned. #O3SwapV2 https://o3swap.com

🦾Event end, but we forward……

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