Unido Blog
Published in

Unido Blog

Unido Token Launch Postponed: Update from the Team

Dear Community,

We would like to thank you again for your patience and ongoing support following the postponement of the UDO sale, which has now been moved to the 3rd March.

We believe in complete transparency and thus, following an in-depth investigation today, would like to shed further light on why we decided to make this difficult yet necessary decision to postpone the sale.

In preparation for the IDO, we undertook significant testing of our smart contract, conducted an external audit (performed by Certik), and stress-tested the transfer of tokens. We followed this with an internal audit which, when setting up with Polkastarter, picked up a previously undetected error in the token smart contract that was only present when the token interacted with the IDO Smart Contract. This wasn’t experienced when previously testing and/or moving tokens. This discrepancy was on the Unido token smart contract and in no way related to Polkastarter.

Despite being a very minor discrepancy, we decided that if this error had even a small chance of negatively impacting the community, it was our duty to mitigate this risk. As such, we determined that this warranted further code review to be conducted and another token smart contract audit to be performed by a 3rd party.

We are pleased to report that this has now been rectified and we will be launching the UDO token on March 3, the earliest available IDO slot on Polkastarter. We will also use this time to extend our KYC processing and enable more people to participate in the IDO.

Once again, we appreciate this may have inconvenienced you and we deeply apologise for any delays, however, we hope our absolute commitment to protecting the community gives you a level of comfort about how seriously we take this process and the Unido product.

The Unido team shares the values of trust, transparency, and accountability. Our focus is first and foremost on our community and we will do everything to protect your interests.

If you have any further questions on the topic, please reach out to us in the Unido TG group and our moderators will be happy to answer any questions.

We look forward to sharing the exciting journey ahead as we build the most robust and seamless enterprise platform for decentralized capital markets.

Unido is an enterprise platform for decentralized capital markets, built on Polkadot and powered by $UDO token. Learn more at: www.unido.us

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

Built on Polkadot and powered by $UDO token, Unido is building enterprise-grade solutions to give institutions better access to DeFi Markets.