Main Net Delay
Hello Souldiers,
We are so sad to say that the launch of the main net will have to be postponed.
For the sake of transparency let us tell you exactly what happened and why we had to collectively take this disappointing decision. Yes, we know it’s disappointing for you, our amazing Phantasma community, but it is also extremely disheartening for the team to let you and ourselves down, since we have been working non-stop, with practically no sleep for the past couple of weeks leading to the launch.
Over the past few weeks we have been getting the phantasma mobile wallet ready, to be the go-to place when we launch the main net, so that people could swap their NEP5 SOUL tokens to native SOUL, stake them, and start generating KCAL or become soul masters. The tokenswap worked and we have released a proof of concept of the app. Things were going well, and we believed to be on track for launching before today.
Now, as you probably know, over the weekend something terrible happened with a popular crypto project, Fusion Protocol, where it was hacked and investors lost a huge percentage of the total token supply, which we believe will now probably have caused the downfall of the project.
We here at phantasma were really concerned with something potentially happening to our chain, and therefore went to work on trying to break the whole chain for potential exposures that could have a devastating effect on the blockchain and everybody’s tokens.
We then found the following 2 issues:
- As we have communicated before, in the Phantasma app, if the swapping process was interrupted before the last stage (it had 3 stages) then the user would not get the tokens in their phantasma wallet. This break was not critical because the tokens would still be able to be sent out manually to the appropriate address. Nevertheless it would most definitely occur to some users and from the user’s point of view, he would not have known what happened and would think that he had completely lost the tokens.
- The second break was a swapping protocol breaking exploit, because people who weren’t using either the mobile or desktop wallets could connect directly to the chain and exploit it to steal the funds of everybody using the NEO to Phantasma token swap. The team of course would never launch the chain with an exploit this big that could bring down the whole project.
So what did we do after finding these two issues?
The mobile app had an automatic NEO to Phantasma token swap (and a more complex code), and the official desktop wallet, developed by Vincent and Merl, two of our most dedicated community members and winners of the dApp contest that was completed in August, had a manual swapping process. We have been working with them and helping them out in the past 2 months, so we knew that the wallet was at a really advanced stage, and with the manual swaps done by the users, this simplified the token swap and made it easier from a code perspective to alter.
With the manual token swaps the first break we found wouldn’t happen, as it was directly related to the mobile wallet automatic token swap process.
The second issue was the hard one, and would require a refactor of the whole token swap chain process. That part was relatively easy to re-code on the chain and the manual process of the desktop wallet token swap made us believe that the changes to the wallet code would be feasible to do in time for today’s launch.
After multiple days of the team running on coffee and willpower, and all the resources being poured to help Vincent and Merl with the desktop wallet code, it proved much more difficult than what we expected. We weren’t able to complete this change to the wallet and therefore launching the chain now without any way to access it to swap the tokens to the main net, and stake their soul which is the primary thing that the community members want to do, wouldn’t make any sense.
The team has therefore collectively made the disheartening decision to postpone the main net, we shall communicate even better than before, and probably launching both a mobile and desktop version together when everything is up and running correctly, with no exploits.
We sincerely apologize to everyone in our community, and hope that by showing transparency, you find it in your heart to forgive us for the delay. We all want what’s best for Phantasma and for it to become one of the world’s top blockchains, so we hope that our community will understand that this was for the best of the project.
Thank you for understanding,
Team Phantasma
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