Update Regarding Multichain and MOD/ETH Liquidity on Uniswap
There has been a security breach at Multichain, one of the leading bridges in the crypto space. This is not a Modefi specific issue, as the breach has already resulted in millions of dollars in ETH, WBTC and other assets being withdrawn from Multichain addresses.
Over one million MOD tokens are held across multiple chains in Multichain controlled wallets, this presented a significant risk for both the project and our community if these tokens were accessed and sold on Uniswap.
In response to this risk, the Modefi team made a prompt decision to remove MOD/ETH liquidity from Uniswap. This precaution ensures that even if MOD tokens are taken from the Multichain addresses, the person(s) responsible for the breach will not be able to drain our liquidity. For now, the MOD and ETH resulting from the LP withdrawal are being stored safely in a team controlled multisig wallet while we determine the best path forward.
We are committed to finding a solution, and we look forward to restoring liquidity for the MOD token as soon as we can safely do so. In the meantime, we urge users to avoid using Multichain for any reason.
We also urge anyone that is also supplying Liquidity on Uniswap to remove it ASAP as their share is still at risk if the MOD tokens are moved from the compromised Multichain wallet.
Please refrain from using the current Liquidity on Uniswap for trading MOD as the current price is incorrect (due to extremely limited Liquidity) and may result in you not being eligible for a token swap if we end up going that route.
We will share more updates as the situation develops. Thank you for your understanding!
@leshka_eth@0xSalazar@Modefi_Official Modefi isn't looking to be direct competition. The more quality Oracles that exist, the better our aggregation works.
This week, @Ryan_Modefi joins @_lfausto on Fantom Edge to talk about:
→ Oracles
→ Tips to navigate the space
→ Early Fantom experience
→ Crypto adoption
STAY TUNED EVERYONE!
January and February rewards for the #ODO have been dropped to all beta participants on the @FantomFDN Mainnet. 💰
Thank you for all your patience and help! We wouldn't be able to do it without our loyal beta testers! 🙏
The total for these rewards was ~$30,000 (85k MOD). 👀
Hey everyone, we know there have been some issues with some Fantom testnet RPC's lately so we have opted for our own personal endpoint. If you are still having issues and would like to try it out for the ODO please DM me or one of the admins on Telegram.
https://t.co/HQjMBzPx9Z
Big update! The team has been pushing 300+ commits/month. More info about the new efficient and secure consensus algorithm for ODOracle. 25k USD in rewards given out in beta. Check out development updates and stats. #Decentralized#Oracle#DEFI#FTM
https://t.co/vT0FLm47c8
Are you interested in becoming a beta tester for the ODO platform?
Look no further! @N4SH3RS has created a series of quick and easy guides to help you become a validator with minimal effort
ODO rewards have been sent out on the $FTM mainnet!
Thank you to everyone that has continued to help throughout the beta testing process! ❤️
40k $MOD earned during this rewards period.
A good amount of new addresses have joined us, let's keep that growing, spread the word!
Wishing everyone a Merry Christmas and Happy Holidays! We're grateful for your support and can't wait to see what the new year will bring. Stay tuned for some exciting updates coming soon!
#Oracle#DeFi $FTM $MOD $ETH $BTC