This post is meant to provide guidelines to users who hold Shards that have been paused as a consequence of the discovered vulnerability on the 20th of July 2020.
We plan to re-fractionalize the affected NFTs and provide everyone with replacement Shards according to their current balance, AKA a "token swap". To this end we are currently taking snapshots and building a simple UI for you to query your balances across all fractionalized NFTs.
As part of the mitigation against the vulnerability, all NIFTEX NFTs are currently undergoing a Buyout. These Buyouts will allow us to recover the NFTs from the affected smart contracts and re-fractionalize them in a fixed and re-audited set of smart contracts. As the token swap is taking place, there will be no ETH to claim for affected Shards in these Buyouts. Buyouts pause all Shard transfers for a default period of 2 weeks. This also makes trading impossible. Do not attempt to trade Shards on Uniswap - it will consume all your gas.
Our timeline is roughly as follows:
- We will take today (July 22nd) and tomorrow to produce the required snapshots of all balances. These includes standard wallet balances, Uniswap liquidity provider balances, and unclaimed Shards from Launches.
- By the 24th of July (Friday), we aim to have a page up where you can input your wallet address and see to which Shards and their amounts you hold claims.
- By the 27th of July, we aim to have most of the token swap mechanics in place.
- Around the 3rd of August, the Buyouts will resolve and the NFTs will be recovered. They will be re-fractionalized with 100% of Shards going to a wallet in our control, from which the token swap will be enabled. The token swap is likely to be automated, sending out multiple batches of replacement Shards over time.
- On this same date, we will coordinate with liquidity providers to recover the ETH and tokens that are in the affected Uniswap pools. If you are a liquidity provider, please get in touch with us on Discord so we can coordinate accordingly.
- We aim for the full process to have completed by August 5th. Standard trading will also resume around this time.
- Provided the contracts are fixed and re-audited with success, we will consider resuming new Launches in the first week of August.