WE ARE SWAPPING TO A NEW CONTRACT
We were prepared for this, but the team wanted to let you all know what happened and is happening. There was approximately 16-17% of the liqudity that was pulled out and sold by the original dev
The original dev who rugpulled us back in April was able to pull his LP after the lock timer ran out. He did so and then immediately dumped/sold his laika tokens that were locked.
As he had not previously dumped his remaining holdings with a small unlocked LP amount which he was slowly selling (this was visible and noticed by team members and had a corresponding icon on dextools), we had hoped and entertained the idea that he would not do this.
However, as soon as the LP unlocked, he pulled the liquidity he had access to and then proceeded to sell/dump his laika tokens leaving us at the current marketcap and a nasty message about our token in Dextools.
HOWEVER…WE WERE PREPARED FOR THIS
For months, we had been planning and working on a new contract + swap as well as the details how to best execute this.
We will be migrating to a new contract. The swap will take place after a snapshot is taken in approximately 5 days.
Obviously there will be many details that cannot be covered in a reddit post and there will be people who could not be notified of this as they are not on the telegram or reddit.
However, we will handle those issues on a case-by-case basis and we ask that you join the telegram to start that process of getting your new laika tokens.
The actual swap contract which we will use to allow people to manually convert their existing tokens to the new tokens? Here’s a brief word on that from our new dev (and original holder).
[Forwarded from Mystery Hawke]
“Also I’ve just finished the swap contract. Need to test. It also tracks reflections so it won’t matter what order people deposit in.
It’s designed such that it uses the holdings at a snapshot as the base, so all trading from the snapshot time is discounted (though as above, reflections from the snapshot time will be tracked).
People deposit tokens and it calculates what their holding in new Laika will be (so we can build a dApp that allows people to see what they’ll be getting).
The swap contract has the capability to sell old Laika for BNB and then add new Laika plus BNB to a PCS liquidity pool.
People won’t be able to claim their new tokens until this new liquidity is added as we want to be able to set the token to BNB ratio in the pool (once someone has done this it can’t be undone, so it’s important we don’t have any circulating new laika that anyone could add to LP.”
