Pandayield the why, the how, the when, the next
On the 28th of January, all of the Bamboo token owners suffered quite a bit. We definitely owe an explanation to the community.
The Issue
During the night of the 28th of January, one of our team members found out that there is a bug exploitation. In short, there was an issue with the referral system and that person was exploiting that bug.
Hemorrhage stop solution
To stop that bamboo thief we needed to come up with a drastic solution or it would have deeply harmed our community. That’s when we decided to deactivate the leaf pool.
By deactivating the leaf pool, we wanted to stop the bug exploitation and not penalize the community. As we set an 18 hours security timelock there was no other option than to patiently wait, and wait, and wait…
No other option
Unfortunately, we couldn’t fix that issue. We tried very hard and tried every possible solution for a positive outcome, but we met a dead-end eventually. Giving up on that issue wasn’t a light decision at all.
The core Panda Team debated to choose an outcome for Pandayield but it shouldn’t be our very own decision and should take the community into consideration with that hard decision. We launched a poll on Telegram and on Pandayield’s governance section to ask for the whole community’s opinion.
Either we stop everything or we move the Panda project. The community’s final decision was to keep going and move on.
Next
We learned from that mistake, we learned from the situation, we learned from our community. We are so glad to see you still supporting us no matter what and still believing in us and our PandaHood. We promise we are doing everything to gain your trust back, and to build a strong foundation for the next project or Pandayield’s V2.
We are well aware that the Pandas have deeply suffered from that issue that’s why we are going for a 1:1 airdrop.
Follow these steps:
- You have until February 6th at 11.59 pm UTC to unstake your Bamboo
- The snapshot will be made then
- 24h later there will be an airdrop
- Welcoming the community to the V2
Remember, you have until February 6th, 11.59 pm UTC to farm, stake, and unstake.
Our mistakes
Once again, we would like to apologize for the damages because of our technical mistake. We promise to learn and to grow from that. We accept constructive criticism and your harsh words. Now, we have to move to the next project and would like to welcome in advance those who want to follow us there.
Our team will keep on answering your questions on Telegram. Obviously, we won’t be able to answer all the PMs DMs, but we will try hard to answer all of your questions on the main channel.
See you on the V2 Pandayield, stronger, better, safer, wiser.
PS: we couldn’t just remove the referral to remove the bug.
