FLY Foundation

Building the infrastructure that makes #BNB more efficient. FLYBNB powers the ecosystem through @lista_dao. Tools designed for scale and long term growth.

[FLY Foundation @flyfndn]

https://t.co/W8fouh0W9S

[FLY Foundation @flyfndn]

@dawgpdegen what?

[FLY Foundation @flyfndn]

It’s been a quiet period, so we want to explain clearly what happened, why it took time, and what comes next for FLY

FLY and its ecosystem, including FLYBNB, are built to fit directly into BNB’s economy. From day one, the goal has been to make #BNB productive across trading, liquidity, and onchain usage.

First, an important clarification:
If we had the option to pull liquidity or sell team tokens to reset and relaunch quickly, we would have done it and we would have relaunched instantly, but we didn’t have that option

In FLY v1:
- Liquidity was burned
- 60% of supply was locked
- Team tokens were not sellable

Because of this, FLY v2 must be treated as a new launch, not a continuation funded by extracted liquidity or user funds.

We want to be very clear:
- We did not pull liquidity
- We did not sell team tokens
- We are internally supplying new liquidity for FLY v2
- We do not have user funds, as the white hat exploit was performed after FLY was already cancelled

To make this fair, every FLY v1 holder will receive a pro-rata airdrop in FLY v2, based on:
- Their holdings at snapshot (~900K mc)
- What they sold between roughly $900K market cap and the announcement
Snapshot details will be shared soon.

Why did this take so long?

FLY was initially audited. Shortly before launch, we added new features to prevent a MEV bot issue, which required another audit. We worked with @blocksecteam to audit the full Fly ecosystem.

During that process, a critical issue was discovered. FLY was being continuously drained and, if left unresolved, could have been fully drained. At that point, the only responsible decision was to stop operations and prepare a migration.

While we were preparing this, FLYBNB still held close to 800 BNB TVL from users who had not withdrawn. These funds were still exploitable. Publicly warning users would have exposed them to immediate risk.

The Fly Foundation incurred $33,700 in losses and expenses during this process. These costs were fully covered by one of our new partners as a strategic investment. In addition, we have supplied $200,000 of liquidity to FLYBNB and covered all treasury losses

This is also why the relaunch was not rushed. The right move was never a quick reset. It was to use this time to make FLY v2 stronger, safer, and better integrated into the BNB ecosystem

We understand why some early holders are frustrated, and in many situations in crypto, skepticism would be fair. All we can do is be transparent and move forward correctly.

FLY will relaunch next week, and more detailed information will be shared very soon

Thank you to everyone who stayed patient

[FLY Foundation @flyfndn]

@Ravva_X You will. Before migration announcement, you're safe

[FLY Foundation @flyfndn]

@asparagoid Snapshot will be fair 🙏

[FLY Foundation @flyfndn]

FLYBNB TVL just crossed $100,000 again on v2

Step by step, trust gets rebuilt the only way it can: onchain, in public, every day

We keep shipping, more coming soon

[FLY Foundation @flyfndn]

BNB already has real, sustainable yield

The next step is making that yield composable across trading, liquidity, and apps

More of this coming on @BNBCHAIN

[CZ 🔶 BNB @cz_binance]

This is a game changer. Good to see all the BNBChain ecosystem projects working together.

[FLY Foundation @flyfndn]

FLYBNB is now trading 1:1 with #BNB  on @PancakeSwap

The new FLYBNB & @flypad_app contracts are fully audited by @BlockSecTeam

⌛️ @BNBCHAIN

[FLY Foundation @flyfndn]

BNB → FLYBNB wrapping is coming back today!

Time to move forward, let’s light the fire and build.

[FLY Foundation @flyfndn]

@AbdulBasit20568 hey! airdrop. we’ll provide a timeline during the next days. understand it’s the hardest week in the year for any developer or designer to find time to work

[FLY Foundation @flyfndn]

Happy New Year everyone!

Over the past days we’ve completed phase 1 of the migration and we’ve deployed the new version of FLYBNB:
0xfFfffE952fed239ad2DA4c7619DAe809917DFABd

We’re sorry for the lack of communication. It had to be this way, and here is why:
FLY was initially audited, but the audits weren’t accepted by our new partners. Through @BNBCHAIN grant program, we worked with @blocksecteam to audit the full FLY ecosystem

During that process, a critical issue was found. FLYBNB TVL was being drained and, if left unresolved, could have been fully drained. At that point, the only responsible decision was to stop operations and prepare a migration

While we were preparing this, FLYBNB still had close to 200 BNB TVL from users who did not withdraw. These funds were still exploitable. Warning publicly would have exposed users to an immediate drain

Through a controlled white hat operation, we safely drained the TVL ourselves and secured the funds. This allowed us to move forward without putting users at risk

The FLY Foundation incurred $44,500 in losses and expenses during this process. None of our users incurred any losses. This amount was fully covered by one of our new partners as a strategic investment, allowing us to move forward without compromising development or user funds. This support reinforces our conviction that FLY is being built on strong long term foundations.

Audit report here:
https://t.co/mXYY5Ka1jw

FLY is now safe, the foundation is solid, and we’re preparing the relaunch properly. From here, we can be transparent and communicative again.

Thank you to everyone who stayed patient.

[FLY Foundation @flyfndn]

@wailer_rot @RuneCrypto_ If you read our post, there’s a reason why we weren’t able to tell you what was going on. If we did, user funds would be drained. Also, audits are part of pre-launch, and not done by us, obviously, but by corporations, which take free days during holidays

[FLY Foundation @flyfndn]

@userDFrost https://t.co/IpJKytyLyu

[FLY Foundation @flyfndn]

Happy New Year everyone!

Over the past days we’ve completed phase 1 of the migration and we’ve deployed the new version of FLYBNB:
0xfFfffE952fed239ad2DA4c7619DAe809917DFABd

We’re sorry for the lack of communication. It had to be this way, and here is why:
FLY was initially audited, but the audits weren’t accepted by our new partners. Through @BNBCHAIN grant program, we worked with @blocksecteam to audit the full FLY ecosystem

During that process, a critical issue was found. FLYBNB TVL was being drained and, if left unresolved, could have been fully drained. At that point, the only responsible decision was to stop operations and prepare a migration

While we were preparing this, FLYBNB still had close to 200 BNB TVL from users who did not withdraw. These funds were still exploitable. Warning publicly would have exposed users to an immediate drain

Through a controlled white hat operation, we safely drained the TVL ourselves and secured the funds. This allowed us to move forward without putting users at risk

The FLY Foundation incurred $44,500 in losses and expenses during this process. None of our users incurred any losses. This amount was fully covered by one of our new partners as a strategic investment, allowing us to move forward without compromising development or user funds. This support reinforces our conviction that FLY is being built on strong long term foundations.

Audit report here:
https://t.co/mXYY5Ka1jw

FLY is now safe, the foundation is solid, and we’re preparing the relaunch properly. From here, we can be transparent and communicative again.

Thank you to everyone who stayed patient.

[FLY Foundation @flyfndn]

@herb_istt that’s the old FLY token. we won’t use it. sell it, whatever. snapshots were taken

[FLY Foundation @flyfndn]

@abiel720s @Ravva_X we’re working.

[FLY Foundation @flyfndn]

We know things look rough right now, so we want to address it clearly

We have taken multiple internal snapshots and are actively working with our partners on the next steps for FLY, including contract upgrades, audits, and relaunch preparation

We will share a detailed update tomorrow with clear information on what happens next and how the migration will work. Until then, please rely only on official communications and ignore speculation

Have a calm Christmas Eve 🎄

[FLY Foundation @flyfndn]

@Ravva_X we will share details this week.

[FLY Foundation @flyfndn]

@Ravva_X it’s christmas holidays and our developers weren’t able to provide the new smart contract yet. we’re working on it.

[FLY Foundation @flyfndn]

@asparagoid FCFS wouldn’t make sense. We wanted everyone to have the same opportunity

[FLY Foundation @flyfndn]

@asparagoid it’s completely unfair to reward them. The details will be shared soon. We will make sure nobody gets more tokens than they deserve. Thanks 🙏

[FLY Foundation @flyfndn]

We’re seeing some false rumors going around: No snapshot has been taken yet.

We will clearly announce:
- when the snapshot is taken
- what block
- what action (if any) is required

Until then, nothing has changed. Please wait for the official update before acting.

[FLY Foundation @flyfndn]

After a deep review and based on feedback from our new partners, we will be migrating FLY and FLYBNB to new smart contracts.

This is a proactive improvement to strengthen the system long term and align with higher security and infrastructure standards. The new contracts are already audited by @BlockSecTeam

No action is needed from users right now. Please do not do anything until we share full details tomorrow.

The migration will be quick and simple, and we are already working closely with our partners to make this smooth.

More information coming soon.