Update for Community Members with SEED on PoloniDEX
Regarding the TRC20 SEED airdrop to the PoloniDEX smart contract
August 16, 2020
Sesameseed recently completed the transition from TRC10 to the TRC20 token standard for SEED on the TRON network. This was accomplished via a carefully coordinated airdrop to all SEED in any address on the TRON network. This included communication with all exchanges where TRC10 SEED was listed, as well as commonly used TRON wallets.
Prior to the airdrop, exchanges were notified and requested to delist TRC10 SEED. This was done to ensure the new TRC20 SEED was airdropped to the customer, rather than the exchange smart contract. The delisting date was determined with input and approval of all listing exchanges, as well as each exchange’s commitment to adhere to the scheduled deadlines. The mutually agreed upon time frames were critical to protect SEED holders, and to allow the exchanges to provide good service to their customers.
Across the entire Tron network, over 50 million TRC20 SEED were airdropped successfully to over 35,000 addresses holding TRC10 SEED. Unfortunately, despite commitments and reassurances of completion during the airdrop process from PoloniDEX, they did not cancel TRC10 SEED sell orders in their smart contract prior to the airdrop. As a result, approximately 312,481 SEED were airdropped to the PoloniDEX smart contract for SEED trading. That SEED trading contract was the address the TRC10 SEED were in at the time of the snapshot. PoloniDEX is now in possession of those 312,481 TRC20 SEED. The SEED (and accrued daily rewards) can be seen at this address for the PoloniDEX smart contract:
Sesameseed reached out to PoloniDEX in order to rectify the situation once it was discovered PoloniDEX did not delist TRC10 SEED as they had committed. To date, the situation has not been resolved.
More SEED can not be minted to replace these SEED. With the TRC20 SEED in the custody of PoloniDex, this would create new SEED and negatively impact all SEED holders. SEED must be minted according to the SEED Minting and Distribution system. Sesameseed is saddened to report it can not assist further with this issue. The TRC20 SEED are in the custody of PoloniDEX. Blockchain transactions are irreversible, and Sesameseed can not reclaim these SEED.
Sesameseed remains hopeful that PoloniDEX will provide their customers with the TRC20 SEED at some point in the future. Just as with any SEED deposited into an exchange or smart contract, the daily rewards for those SEED will continue to be sent to the blockchain address that contains the SEED.
As per their website, customer support for PoloniDEX is available here. SEED holders impacted by these unfortunate circumstances are encouraged to open up support tickets with PoloniDEX.
