UNV Distribution Fixes and ETH Network Issues

TLDR; The launch was a huge success, the LVT smart contract and Unvest platform worked flawlessly and the circulating supply of UNV at TGE remains unchanged. 🦍🔥

However, there are some errors that the team has had to correct, one caused by human error (20 wallets slightly under/overpaid) and two caused by ETH network issues and an edge-case bug in Metamask (one block affected).

The good news is Unvest’s future products actually mitigate these issues, as Razor eliminates the dependency on manual processes and spreadsheets.

Token distribution is a fraught process and this event underscores massively the need for services like Unvest.

This also makes us even more excited about our upcoming expansion to BSC (and our longer term expansion to Cardano/more EVMs). Where congestion and insane gas costs do not cause such headaches for projects and investors.

We have multiple new projects distributing on Unvest via BSC, with announcements coming soon. The insane gas fees and congestion on Ethereum will not affect these upcoming launches.

We will continue to whole-heartedly support ETH projects and look forward to ETH network fees coming down with sharding and other scaling solutions.

As a gesture of goodwill, the additional tokens being sent to cover short-falls are being paid by the Unvest team and deducted from the team wallet. 💚

Seed, Private & Influencer UNV-3MO & UNV-9MO Balances ✅

We all know gas is strangling Ethereum. We are seeing gas costs for straightforward operations across many services (not just Unvest’s) run into the thousands of dollars.

Due to a highly unlikely (or “edge-case”) bug, a request in Metamask’s UI to “Speed Up” a batch of UNV-3MO tokens that were stalled due to network congestion actually resulted in that transaction being mined twice. Our team is investigating this issue and putting in place safeguards to prevent it ever happening again.

This means that a pool of addresses received double their UNV-3MO tokens. Because the UNV-3MO allocation is equal in size to the UNV-9MO allocation, we elected to skip the UNV-9MO allocation for these users. This means that some investors get their tokens a few months early, but the overall number of tokens received remains the same. 👍

For investors outside of the affected block, we are sending your unsent UNV-9MO tokens in the coming days.

Over the coming weeks, we will be offering very exciting incentives to encourage all UNV-LVT holders to lock their LVTs for extended periods of time, to prevent an oversupply of tokens hitting the market in December. This will represent a revolution in how staking can work, and we expect many projects to adopt our model in the future.

Spreadsheet error (human error, approx. 20 addresses affected) ✅

Due to a data syncing error in our cloud spreadsheet service, and our failure to properly check the affected entries. We submitted incorrect balances for approx. 20 addresses.

Over the coming days, underpaid investors will receive top ups of their UNV and LVTs. The total inaccuracy amounts to only $20k USD across all wallets.

Though we have no expectation that all investors will, overpaid investors can return or burn excess funds — submit proof of this and you will be rewarded with a Unique “Angel Ape” NFT that may unlock special privileges. 🔮🦄

We take responsibility for this error, and are covering the costs to remedy from the team wallet. We want to point out that Unvest’s smart contracts and distribution services worked flawlessly. We merely fed the tool the wrong data. Silly goose.

Ecosystem ✅

Ecosystem tokens locked in conventional (non liquid, no TGE, 6 month+ cliff, years-long unlock) vesting will be sent in the coming days and will be confirmed via email.

Cardstarter LVTs ✅

Thankfully, none of the IDO participants are affected by the above errors. UNV-3MO LVTs (representing the 70% locked allocation) are being sent in the coming days. They will be available to View and Trade at app.unvest.io.

The vesting clock has already started on these tokens so slight delay in distrubtion does not affect your vesting schedule. 👍

Once the above is squared away and remedied, we are excited to resume our rollout of announcements, product updates and marketing initiatives.

Stay strong Apes.
🦍🔥

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The cross-chain marketplace for locked & unvested tokens

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