BTC $82,367.78 -1.08%
ETH $2,534.33 -1.00%
BNB $759.55 -0.94%
XRP $1.40 -2.82%
SOL $112.34 -3.39%
TRX $0.3343 +0.17%
DOGE $0.0869 -1.86%
ADA $0.2477 -2.12%
BCH $295.60 -1.72%
LINK $12.95 -3.20%
HYPE $85.52 -3.82%
AAVE $169.66 -1.51%
SUI $1.09 -1.78%
XLM $0.1979 -2.10%
ZEC $1,215.83 -7.64%
AAPL $336.84 +0.63%
AMZN $258.64 +1.50%
GOOGL $355.16 +2.47%
MSFT $530.91 +0.43%
META $721.89 -2.00%
NVDA $234.53 -1.25%
TSLA $374.19 -1.74%
SNDK $1,668.49 +1.61%
INTC $110.26 -2.46%
SPCX $166.48 -2.19%
MU $1,082.78 +6.60%
AMD $635.61 -0.38%
BTC $82,367.78 -1.08%
ETH $2,534.33 -1.00%
BNB $759.55 -0.94%
XRP $1.40 -2.82%
SOL $112.34 -3.39%
TRX $0.3343 +0.17%
DOGE $0.0869 -1.86%
ADA $0.2477 -2.12%
BCH $295.60 -1.72%
LINK $12.95 -3.20%
HYPE $85.52 -3.82%
AAVE $169.66 -1.51%
SUI $1.09 -1.78%
XLM $0.1979 -2.10%
ZEC $1,215.83 -7.64%
AAPL $336.84 +0.63%
AMZN $258.64 +1.50%
GOOGL $355.16 +2.47%
MSFT $530.91 +0.43%
META $721.89 -2.00%
NVDA $234.53 -1.25%
TSLA $374.19 -1.74%
SNDK $1,668.49 +1.61%
INTC $110.26 -2.46%
SPCX $166.48 -2.19%
MU $1,082.78 +6.60%
AMD $635.61 -0.38%

pons

All
Article
Flash

Pons Founder: The PONS new repurchase mechanism will distribute funds every 7 days and complete the repurchase and destruction in the following 7 days

The founder of Pons, Ozzy, posted on platform X in response to community concerns about the PONS buyback and burn mechanism, stating that the current burn rate has indeed not been adjusted, and the "Claim" process has not yet achieved complete decentralization.He mentioned that an on-chain contract upgrade is currently underway, with a new buyback mechanism planned to execute a Claim every 7 days. Subsequently, all funds received in the following 7 days will be used for buyback and destruction of PONS, and this process will repeat to establish a more sustainable buyback and burn mechanism. Currently, all buyback and burn operations have been automated. Anyone can trigger this bot and receive a small reward for this action.He further stated that the previously set buyback and burn rate is 2e per hour. Combined with the current funding scale of approximately 950,000 USD in the Splitter (fund diversion contract), this rate aligns with the 7-day buyback cycle. Funds will also be automatically executed according to the 7-day cycle after being claimed, so the buyback funds will be displayed in two different sections: one is the current active buyback fund pool (Active Buyback Vault), and the other is reserved for the buyback funds for the next week.Previously, crypto analyst yyy posted on platform X stating that Pons has not replenished funds to the buyback allocator for over 5 days, with approximately 440,000 USD in the escrow account awaiting claim. He believes that the untimely claiming of funds has led to a low burn rate of PONS recently and calls for promoting the decentralization of fund claims from the escrow account.

Bitget CEO live-streamed a response to the platform's first security incident in eight years: the attack originated from a vulnerability in a third-party security product, and the losses will be covered by the user protection fund

In today's community live broadcast, Bitget CEO Gracy responded to recent security incidents and the platform's financial status. She candidly stated that this is the first security incident encountered since Bitget was established 8 years ago. After a complete trace, it was found that hackers exploited vulnerabilities in third-party security products to steal internal network access credentials, forged withdrawal commands to the wallet system, and deceived the wallet into executing abnormal transfers that bypassed risk checks. Gracy emphasized that no private keys were leaked, and cold wallets were unaffected; specific technical details will be disclosed in the formally released security report.Gracy pointed out that the verified losses from this incident are within the coverage of the protection fund, and user funds are not affected. The platform's own funds exceed $1.4 billion, which includes approximately $464 million in the user protection fund. The platform will continue to uphold the security commitments made when the protection fund was established in 2022, planning to replenish the fund to the baseline of $300 million within a week."The protection fund is not just a slogan, but an important mechanism that provides tangible security for users in the event of extreme security incidents," Gracy stated. In the face of sudden security challenges, the platform's comprehensive strength and its ability to take responsibility are important criteria for measuring its risk response capability and long-term credibility. Bitget will continue to uphold its long-term commitment to prioritize user interests.
app_icon
ChainCatcher Building the Web3 world with innovations.