PieDAO is Pausing Oven V2 Deployment Until Further Notice, and Rewards for Early Adopters
[This is a live statement and will be updated as there are more developments]
**Update from 26th March, 23:30 UTC**:
After a little bumps in the road, PLAY has completed the initial baking. 612,526.25 PLAY have been baked and airdropped to members depositing in the Oven which was paused. The current Market Cap is approx: $650,000. The baking session was 6 ETH (approx $10,000) which user have saved by baking together
From the entire core team, we want to thank every community member for the support, we truly felt the love.
As a token of appreciation for your bravery in trying the new experimental Oven, $100 of DOUGH has been airdropped to the 269 address joining us in this adventure.
PLAY Airdrop Tx https://etherscan.io/tx/0x92160648fc28fe10b19dc8fef27a58fda618643609c5ceb2061eaf209b10dac9
DOUGH Airdrop Txs https://etherscan.io/tx/0xfed5cf55248e2e82461af7b06a07b07cb4a6f371d7c0601224eb5a3ada15fa54 https://etherscan.io/tx/0x30f4e8cc3b28306be5681fc40474600d1b0fa9e7ebbf93ca9981fcb7125b9035 https://etherscan.io/tx/0x7d850b1f367581cb2cbe629f80251dcc825d41bd38330dfbfb4fa899b4626891
The PieDAO development team has worked days and nights to bring to light the long-awaited Oven V2 update, making one of our most-loved features more generalised, supporting a myriad of new use cases, including multiple input assets, collective liquidity provision, arbitrage, and much more — both within the PieDAO ecosystem and DeFi as a whole.
The goal is and has always been to make wealth creation accessible to every single user, no matter where they are or their financial status.
We piloted Oven V2 early this week with our newly launched PLAY, a gaming & NFT ecosystem Pie, and had tremendous success with our loyal community of early adopters.
Despite passing a thorough audit and multiple meticulous checks, some of our early users helped us identify bugs that need to urgently be addressed, before Oven V2 can be deployed again. In the meantime, Oven V1 will continue being operational.
Please be assured that no funds were lost, and our development team will now consider to manually bake all deposited ETH into PLAY, and airdrop it to respective users. While we are confident this will work, at the absolute worst case scenario all users will get their entire ETH deposit back.
For clarity, PLAY is not affected by the bug, which is limited to Oven V2. However, due to technical compatibility, it is currently not possible to bake PLAY with Oven V1. The minting of PLAY should resume as soon as possible as we add it to the number of Pies bakeable with Oven V1, and as secondary markets for PLAY open on decentralised exchanges.
We cannot stress how much we apologise for the issue, and how much we appreciate the patience of every single user involved. Together we are building an entirely new financial system where everyone can participate in wealth creation, with no barriers or moats to stop them.
It is inevitable that issues will be found on the way, but we are confident that with the help of our community we will bring this vision to life.
To reward our early adopters who continuously help us test and iterate the PieDAO products, and to apologise for the inconvenience caused by the Oven V2 bug, we will airdrop $100 worth of $DOUGH as ‘proof-of-experimentation’ for every user who deposited funds into Oven V2 over the past few days.
By doing this, we would love to encourage your further participation in PieDAO governance, and help spearhead our mission forward.
