The Banana Gun token BANANA dropped to zero one and a half hours after its launch, and plans to airdrop a new token to compensate the affected users

ChainCatcher news, the Telegram Bot project Banana Gun announced early this morning on platform X (formerly Twitter) that due to an irreparable vulnerability in the token contract, a new contract needs to be created. Dexscreener market data shows that the Telegram Bot project Banana Gun token BANANA nearly went to zero just one and a half hours after its opening, having briefly surpassed $8.5 at its peak.

The official announcement stated that there is an "irreparable error" in its tax contract, where the 4% sell tax failed to enter the project's tax wallet normally and instead remained entirely in the seller's wallet. In response, the project team stated that they would sell the treasury wallet BANANA to exhaust the LP and use the funds to deploy a new contract.

According to the official compensation plan, Banana Gun has taken a snapshot at block height 18115275 (around 3:43 AM Beijing time) and will airdrop new tokens to every user holding BANANA at the time of the snapshot and restart the LP pool. If users sell after the snapshot time but make a profit, the project team will no longer provide compensation. If users incur a loss after selling, the project team will compensate for the lost portion in ETH.