NFTease Community Update

What happened?

The TEASE token experienced some critical bugs which broke functionality and saw reflections being exchanged between our presale and existing holders on PCS. This drained balances between unclaimed tokens in UniCrypt, and holders on PancakeSwap (PCS). This was due to broken functionality in the “transfer” mechanism in the contract. Our contract errored out and reached a point of gas exhaustion. The team at Papel was able to clear the gas-exhaustion, which in turn caused our backed up PCS router & contract to begin executing trades that had been ‘stuck’ (or pending) in wallets. This is what initially triggered a sell off, and then a few individuals took notice and did the same. Shortly after this happened, the contract again experienced gas-exhaustion and locked-up. To prevent this from happening again, the smart contract was intentionally locked with fees set to 100%.

We have been working extremely hard with the teams at VOYR, Papel, and have had assistance from some amazing developers in the community: Charitas, GMR, SMRAT, and Safemoon. And we have a plan that will see value returned to our 600 holders of TEASE.

The plan moving forward:

The situation as it stands will see a new contract being rolled out, and current holders receiving their amount of tokens airdropped to them. The new contract is currently undergoing an audit by “Solidity Finance” and is expected to be complete by May 27, 2021. If you bought into the presale, you’ll have the amount you bought in with. If you began trading on PCS, you’ll have your balance. Due to how the reflections were broken, many people saw their unclaimed tokens increase to as much as 2.5x, while people who had claimed tokens saw their total amount decrease by 10%. We have a list of all of our token holders and we’re diligently working through it to ensure correct balances are captured. People who were able to withdraw balances more than they should have received in UniCrypt will receive the amount they should have received — and not the inaccurately reflected amount. We’ve been working hard on getting something setup in the mean time on our website to show our captured data (more below).

There’s also another problem which we have a plan to solve: the current contracts liquidity is locked for 1 year. The multiple developers, and teams assisting us worked incredibly hard at solving this problem. Because our liquidity pool was generated on PCS v2, there is no path to migrate this pool into the new contract. In order to generate enough liquidity to match our previous contract, we have to do another presale. This presale will be public, and will be heavily marketed in order to makeup for the locked liquidity. Our team also has 230 BNB (40% of the previous unlocked liquidity) that will be added into the new pool. With the updated airdrop-tokens + lost reflections, our supply pool only has an accessible ~130,000,000 tokens available for purchasing. Because of this, we need to increase the maximum cap from 1 billion to 1.5 billion to make up for the new presale. The total supply is now increased by 50% (from 1 billion to 1.5 billion). We understand the impact of this decision, and to makeup for the lost reflections holders will be receiving an additional 10% of their tokens. In 1 years time when the liquidity lock on the current contract expires, it will be moved over into the V2 contract. This will increase the price floor of the new contract, and give the token a big boost in value.

Please check https://NFTease.app/token/ (will be updated and working within the next few hrs.) where you can query your token balance based off of the blockchain values we have. The values we’ve gathered are based off blockchain snapshots that occured before, during, and after the token bleed, as well as from the unclaimed balance in presale. (BNB value input into presale).

The 3rd and final presale:

Date: Monday May 31st, 2021. This is schedule to change. This presale will not go live until we are 100000% certain that everything is functioning as intended, without errors or issues — and that we have the correct balances for all holders.

Update coming soon.

̶T̶h̶i̶s̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶a̶ ̶p̶u̶b̶l̶i̶c̶a̶l̶l̶y̶ ̶l̶i̶s̶t̶e̶d̶ ̶p̶r̶e̶s̶a̶l̶e̶ ̶t̶h̶a̶t̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶a̶v̶a̶i̶l̶a̶b̶l̶e̶ ̶t̶o̶ ̶e̶v̶e̶r̶y̶o̶n̶e̶,̶ ̶w̶i̶t̶h̶ ̶a̶ ̶m̶a̶x̶i̶m̶u̶m̶ ̶c̶o̶n̶t̶r̶i̶b̶u̶t̶i̶o̶n̶ ̶m̶u̶c̶h̶ ̶h̶i̶g̶h̶e̶r̶ ̶t̶h̶a̶n̶ ̶t̶h̶e̶ ̶p̶r̶e̶v̶i̶o̶u̶s̶ ̶p̶r̶e̶s̶a̶l̶e̶ ̶i̶n̶ ̶o̶r̶d̶e̶r̶ ̶t̶o̶ ̶r̶a̶i̶s̶e̶ ̶t̶h̶e̶ ̶a̶m̶o̶u̶n̶t̶ ̶w̶e̶ ̶n̶e̶e̶d̶.̶ ̶T̶o̶r̶i̶n̶ ̶a̶n̶d̶ ̶t̶h̶e̶ ̶t̶e̶a̶m̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶r̶a̶m̶p̶i̶n̶g̶ ̶u̶p̶ ̶m̶a̶r̶k̶e̶t̶i̶n̶g̶ ̶i̶n̶ ̶t̶h̶e̶ ̶c̶o̶m̶i̶n̶g̶ ̶d̶a̶y̶s̶ ̶a̶n̶d̶ ̶g̶e̶n̶e̶r̶a̶t̶i̶n̶g̶ ̶h̶y̶p̶e̶ ̶t̶o̶ ̶h̶e̶l̶p̶ ̶m̶a̶k̶e̶ ̶t̶h̶i̶s̶ ̶p̶r̶e̶s̶a̶l̶e̶ ̶a̶ ̶s̶u̶c̶c̶e̶s̶s̶.̶ ̶B̶e̶c̶a̶u̶s̶e̶ ̶i̶t̶ ̶w̶o̶n̶’̶t̶ ̶b̶e̶ ̶w̶h̶i̶t̶e̶l̶i̶s̶t̶e̶d̶,̶ ̶t̶h̶e̶r̶e̶ ̶i̶s̶ ̶a̶l̶s̶o̶ ̶t̶h̶e̶ ̶p̶o̶s̶s̶i̶b̶i̶l̶i̶t̶y̶ ̶o̶f̶ ̶b̶o̶t̶s̶,̶ ̶w̶h̶a̶l̶e̶s̶,̶ ̶a̶n̶d̶ ̶s̶n̶i̶p̶e̶r̶s̶ ̶e̶n̶t̶e̶r̶i̶n̶g̶.̶ ̶W̶e̶ ̶h̶a̶v̶e̶ ̶n̶o̶t̶ ̶a̶d̶d̶e̶d̶ ̶a̶n̶y̶ ̶a̶n̶t̶i̶-̶w̶h̶a̶l̶e̶ ̶o̶r̶ ̶l̶i̶n̶e̶a̶r̶ ̶v̶e̶s̶t̶i̶n̶g̶ ̶i̶n̶t̶o̶ ̶t̶h̶e̶ ̶c̶o̶n̶t̶r̶a̶c̶t̶ ̶a̶s̶ ̶w̶e̶ ̶v̶a̶l̶u̶e̶ ̶o̶u̶r̶ ̶p̶l̶a̶t̶f̶o̶r̶m̶s̶ ̶f̶u̶n̶c̶t̶i̶o̶n̶a̶l̶i̶t̶y̶ ̶a̶n̶d̶ ̶d̶o̶i̶n̶g̶ ̶t̶h̶i̶s̶ ̶d̶e̶c̶r̶e̶a̶s̶e̶s̶ ̶t̶h̶a̶t̶ ̶u̶s̶a̶b̶i̶l̶i̶t̶y̶ ̶o̶u̶t̶ ̶o̶f̶ ̶t̶h̶e̶ ̶g̶a̶t̶e̶.̶ ̶T̶h̶i̶s̶ ̶p̶r̶e̶s̶a̶l̶e̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶g̶o̶i̶n̶g̶ ̶o̶f̶f̶ ̶w̶i̶t̶h̶o̶u̶t̶ ̶a̶ ̶h̶i̶t̶c̶h̶,̶ ̶a̶s̶ ̶o̶u̶r̶ ̶n̶e̶w̶ ̶c̶o̶n̶t̶r̶a̶c̶t̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶f̶u̶l̶l̶y̶ ̶a̶u̶d̶i̶t̶e̶d̶ ̶t̶o̶ ̶e̶n̶s̶u̶r̶e̶ ̶t̶h̶e̶r̶e̶ ̶a̶r̶e̶ ̶n̶o̶ ̶c̶r̶i̶t̶i̶c̶a̶l̶ ̶e̶r̶r̶o̶r̶s̶ ̶o̶r̶ ̶b̶u̶g̶s̶.̶

To make things right:

We understand the magnitude of this ordeal, and we are working extremely hard to make things right with our community. The last thing we want to do is split up our community or hurt our early adopters. We will be adjusting our tokenomics to reflect this. Any holder affected will now be included in the liquidity extraction that happens on a monthly basis, until value is made up. This means, a % of the BNB extracted will be going directly to holders affected by this bump in our long journey. To prevent complexity, this will be a manual process whereby we go down our list of holders and manually send them rewards.

NFTease still truly believes in our long term vision and goals, and we hope you as community members do as well. This ordeal has been the worst case-scenario, but we will do everything in our power to make the community happy and ensure things are right. This ordeal has seen an immense amount of pressure on the team, but has also built new connections and established long-lasting relationships with some amazing developers, and businesses within the community as well, and we are truly grateful for the assistance.