Operations Update
I would first like to say thank you to the Cryptolic team for being accessible and jumping on the issue that happened. Speed bumps and mishaps occur and the sense of urgency that was provided by the developers was relieving.
What Happened
After monitoring the contract and distributors, we noticed rewards were not being sent out properly. The way all 3 distributors work, is at launch, they check transactions from wallets to see how much “stake” (what percentage of the supply they hold) and sets it in the distributor. From there, the distributors watch all transactions to calculate and adjust each holders stake as trading is performed. Since we performed all of the airdrops to holders of GlowV2 and then opened the contract, the distributors never saw the transactions (airdrops) to capture and set each wallets’ “stake”.
**We reward in BUSD, WBNB, BBTF so each token needs a distributor to send out rewards.
The Fix
In order to fix this issue, we had to pause/stop trading of the contract. This ensures that everyone’s wallet balance remains the same while we work on the distributors. While paused, we took a snapshot of the blockchain and are manually setting each holders’ “stake” in all 3 distributors. Once everyone’s “stake” has been manually set, we can resume trading and everyone who holds GLOW will receive rewards as intended.
Rewards
Since we have the contract paused to implement the distributor fix, we have a snapshot of everyone’s holdings and all trades that were performed while GLOW was open from 4:00pm EST until 10:08pm EST. We are working on a way to make sure that everyone who held GLOW during this timeframe receives reward. Once fixes are implemented and trading is live, this will be our next top priority.
Recap
- Manually adjust distributors to set all holders share of the supply.
- Check over contract again to make sure everything is set and operates as intended.
- Resume trading on SFMSwap and PCS.
- Implement resolution to reward holders during time that trading was open at launch.
I would like to formally apologize for any inconvenience this may have caused. Steps have been taken to rectify the situation and we will update you all along every step of this process. Thank you all for your patience while we get GLOW back up and running. I would also like to thank the Core Team and Moderators for all working together to offer support and get over this speedbump.
I will push out another update in this same fashion as each step is completed.
Thank you and have a blessed remainder of the week!
Jared – COO