Bondly reported on the launch of new token

Bondly reported last Tuesday, August 24, through his Twitter account, that his new token $BONDLY will be launched next Friday, August 27 at 11 a.m. UTC.

Image on Bondly’s Twitter post

“Following the July 14 incident in which an unknown attacker acquired the $BONDLY token contract, we are re-implementing a new token contract that will provide all $BONDLY holders who had the token prior to the attack with a $BONDLY replacement or new. This will invalidate the $BONDLY tokens stolen by the attacker”, he said through an article published on the Medium platform.

Release date

The company explained that the redeployment will begin at 11 a.m. M. UTC on Friday 27th August and the claims website URL will be announced to the community in due course. Token holders will have a minimum 24 hour notice prior to redistribution to ensure they are prepared. By controlling the timing of the claim website URL announcement, we are trying to prevent bad actors from launching malicious websites.

Same name. New token. New contract.

According to the company, the new $BONDLY token will continue to have the same name but will have a new smart contract on all 3 networks: Ethereum, BSC and Polygon.

In his opinion, the original $BONDLY tokens are being replaced and, therefore, will no longer be useful within the ecosystem or those of its partners; so, it recommended that users withdraw the token from their wallets to avoid confusion.

“There are no material changes to the tokenomics of the new token, as it simply supersedes the previous version,” he added.

Also read: Marinade: “Solana’s liquid bet on mainnet is active”

Snapshot deadline for token redistribution

Using a snapshot of the three affected blockchains, the company explained that Bondly and its independent auditors PARSIQ have identified the era (i.e., the era of time within a blockchain network) before the attack began (15 July 2020 at 12:16:01 am + UTC).

Criteria for claiming the new $BONDLY token

Similarly, the company detailed that all token holders with $ BONDLY in their wallets or in one of the confirmed locations at the time of the relevant snapshot will be refunded 1 for 1 (i.e. direct replacement) with the new token from $BONDLY.

“To prevent the attacker from capitalizing a second time, Bondly cannot refund those who bought $BONDLY tokens after the snapshot”, he said.

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