https://etherscan.io/tx/0x04ed50599b790e277e6da92f17a79dfa8ce6314b17154309b080ffd2c4dbc38d
GM or GN wherever you are.
The alpha test is going well, and we have seen more success on this iteration than expected.
In order to achieve the maximum amount of censorship resistance, reduce centralization risk, and achieve long term flexibility, the following migrations will need to take place before we can go live with all components of the protocol and hand off control to the X7DAO governance via X7DAO token ownership and a trustless governance contract.
Due to risk of scammers we will NOT announce token names and addresses until we get closer to the launch day.
The following deficiencies exist on all or some of X7m105, X7 Protocol, and X7DAO:
Deficiency:
Fee receiver wallets are held by individual contributors.
Mitigation:
Token trading fees will be sent to a splitter contract that will apportion fees among each contributor and the multisignature wallet in a trustless manner.
Of fees collected:
* 51% will be routed into the multi-signature wallet. * 7% each will be routed into the following contributor wallets as a heartfelt thank you for their hard work on this important project:
* Contributor 1: 0x07f83C49244294aE76d0a96D9e00589Baf459A74
* Contributor 2: 0x394b77972f2B914430D27AfE6a5a2B85Ddf67Ad1
* Contributor 3: 0x499CFc7B79D75591E2214dC004bF191E71998C50
* Contributor 4: 0x56d13422Dbf491dD928541D54Aba001c1Eb68aE1
* Contributor 5: 0x7000a09c425ABf5173FF458dF1370C25d1C58105
* Contributor 6: 0x8FE821FB171076B850A3048B9AAD7600BE8d0F30
* Contributor 7: 0xeFACd3261f3F2038220e725A6Aca2D376a07aA8d
Deficiency:
Token fee swap thresholds are hardcoded to a high token amount which leads to large liquidations that will be unsustainable with the current and future price profiles. At present the threshold is set to 100k tokens. This is already liquidating 1ETH each time. For example, at 200m market cap, that will be a 200+ ETH sell on the chart which risks creating market panic. The higher the market cap, the worse this market effect will be.
Mitigation:
Token fees will be swapped at a fixed percentage of the trading pair to ensure the market impact is reduced.
