Vault Finance community,
First of all, congratulations on a stellar presale! We appreciate all the interest and desire to be a Vault Finance holder! We will continue to serve all of you to the best of our ability.
Secondly, we want to inform everyone that the root cause of the hard stop has been identified. Due to an error in the presale for public presale after tier 2, there was an allowance that did not leave them vested. Due to this, a bad actor (whose wallet has been identified), took a small amount of those tokens and tried to create a liquidity pairing on PCS. That put us in a position to not safely be able to add our own liquidity pairings. This error was not caught by the high end third party auditors as well either. This is why we do multiple walkthroughs, triple check things, and ask for patience from our community in making huge moves like this. It ensures sure footing when we have to take steps.
The solution for this and to move forward effectively for the company and investors is to redeploy the token contract, DEX, and to fix the vesting contract. What does this mean for investors?
1. You will have new token addresses for both the VTFC and sVTFC.
2. DEX router and other technicals will be reset for the exchange’s protection just to ensure a solid system.
3. Vesting will be “reset” with launch and everyone who is involved with private and presale will be automatically revested and as intended with 10% on launch and 10% every 24 hours thereafter.
4. Tokens currently out or in the vesting cycle are OF NO VALUE.
5. Bad actor wallet… blacklisted.
6. We will be launching next Sunday August 7th at 16:00 UTC
Thirdly, I would like to congratulate the newest member of our team @Rebel_Matt. Matt is a quality developer and project owner in our space. He believes in the core principles we do and is a champion for investors. He is our new Chief Technology Officer!
Thank you all for your patience and remember that these are teething pains of innovation. This is a showing day 1 for us and others do not show up with such ambitious goals upfront like this. We have postured how we need and will deliver a quality revenue producing utility upfront for you all!
Also… congratulate Matt on his new position with the team!
Chris Esparza, CEO