Fellow Poolz community,
Poolz Finance has completed the preparation of Poolz Finance (POOLX) airdrop distribution to eligible users who held POOLZ Finance tokens (POOLZ) during the snapshot timings.
- Centralized exchanges: Direct airdrop to their account (they will allocate these funds to the individual holders)
- Decentralised Holders: Claim from Poolz distribution website
Please note: We managed to ensure that people who had locked POOLZ tokens at the time of the hack will have the exact same vesting for their POOLX tokens.
1. Official Contracts links of POOLX:
2. Snapshots Timing:
Pre-Attack Block Height:
- (DEX) ETH: Mar-15-2023 03:09:11 AM +UTC = 16834088
- (DEX) BSC: Mar-15-2023 03:09:02 AM +UTC = 26475264
- (CEX) Mar-15-2023 03:09:00 AM +UTC
Post-Attack Block Height:
- (DEX) ETH: Mar-15-2023 04:43:11 AM +UTC = 16834554
- (DEX) BSC: Mar-15-2023 04:43:00 AM +UTC = 26477120
- (CEX) Mar-15-2023 04:43:00 AM +UTC
People who bought POOLZ tokens AFTER the announcement to stop trading will not be eligible for the POOLX airdrop. At that time the price had dumped way over 90% within less than an hour which clearly indicated something was wrong. In such situations it is strongly recommended to not trade – and doing so comes with very high risks.
The loss through the drained liquidity on PancakeSwap of around $200k is completely covered by the Poolz company treasury.
*Post-Attack: The term Post-Attack refers to the period after the hack until the time of the Poolz Finance announcement to stop trading OR the time at which a centralized exchange halted trading \ stopped deposits.
** Please do not trade POOLZ old tokens.
3. POOLX Listing Details:
- Thursday, 30rd of March.
There are no additional cliff / vesting for the users who locked POOLZ before the hack.
For example, if before the hack the user has 6 days until the end of the lock period, then his new POOLX tokens will be locked the same – for 6 days from the new listing day.
Please note that any POOLZ tokens sold during the period between the snapshot timings of 3:09 UTC and 4:43 UTC on March 15, 2023, will also not be eligible for the POOLX airdrop.
4. POOLX Total Supply:
After assessing different options and consulting with the Poolz Governance Committee (including a voting with a clear result) we have decided to increase the total token supply from 5 million to 5.5 million tokens, which corresponds to a 10% increase. These additional tokens will be used for a number of purposes:
- Add liquidity on BNB chain (which was mostly drained through the hack). We will add substantially MORE liquidity than before the hack, which will decrease the slippage for investors who want to trade larger amounts of POOLX tokens on PancakeSwap.
- We will also add liquidity on Arbitrum – a chain that looks extremely promising. Being part of the Arbitrum ecosystem early on will help us to offer the most promising projects launching on Arbitrium to our community.
- Part of the additional tokens will be reserved to add liquidity for a true centralized exchange listing in case we would need it.
- The remaining additional tokens will not even start going into circulation for over a year to come. Instead, they will be leveraged to accelerate the long term growth of Poolz and as such will be used in the interest of all POOLX holders.
5. New Locking System
Poolz will replace the locking mechanism with the system, the new system will go live on Thursday. With the new system holders do not need to remember to unlock the Poolz tokens and lock them again each time the locking period has expired.
Users who buy POOLX will be able to use the new system and lock the POOLX they purchased in order to be eligible to participate in IDO
6. Additional Information
- Vested POOLX tokens will be counted for Poolz IDO eligibility.
- Poolz community members with vested tokens from past IDOs in Poolz contracts that have been exploited by the hack will get POOLX tokens in the USD value corresponding to the time of the hack, vested linearly for 12 months.
- Users may refer to the pre and post-attack snapshot data to check their eligibility for the Poolz Finance (POOLX) airdrop.
Examples explained (CEX holdrs):
In the following examples, A refers to 03:09:00 (UTC) on March 15, 2023 , and B refers to 04:43:00 (UTC) on March 15, 2023.
If a user’s POOLZ balance was 100 at two different times, A and B, the user would receive an airdrop of POOLX based on their holdings of 100 POOLZ at time A at a 1:1 ratio. The holdings at time B will be not compensated.
If a user’s POOLZ balance was 150 at time A and 50 POOLZ at time B, the user would only receive an airdrop at a 1:1 ratio of their final holdings of 50 POOLZ from the holdings at time A. The holdings at time B will be not compensated.
If a user held 100 POOLZ at time A and 200 POOLZ at time B, the user will be airdropped at a 1:1 ratio of their holdings at time A, and will be compensated for the 100 POOLZ held at time B at a ratio of 13:1.
If a user held 0 POOLZ at time A and 200 POOLZ at time B, the user will only receive compensation for their holdings at time B at a ratio of 13:1.
We would like to again thank our community and partners for the huge report received during these past days! While this was a very challenging situation, it has also proven the strong relationships that we have built over the last years and we have set the course for being more successful than ever before. We have a very exciting journey ahead of us
Thanks for your support!