(Disclaimer: The contents are subject to change without prior notice, and under no circumstances can it be used as evidence of legal responsibility for investment results. The information provided here does not constitute investment advice. If you have any questions, please contact the Stackswap team.)
Hello Stackswap Community,
Progress Report
Stackswap Dashboard (at block number 141,077)
Stacks Accelerator Verified Tokens: 12
- Stackswap (STSW)
- Stacks (STX)
- ALEX (ALEX)
- atALEX (atALEX)
- Arkadiko Token (DIKO)
- Arkadiko Stablecoin (USDA)
- Miamicoin (MIA) v1
- Miamicoin (MIA) v1
- Newyorkcity Coin (NYC) v2
- Newyorkcity Coin (NYC) v2
- Lucid Bitcoin (lBTC)
- HireVibes (VIBES)
Stackswap Ecosystem Updates
Farming Contract Update
Our farming contract is an important mechanism for distributing rewards to users. Data is updated for each round to ensure transparent and accurate reward distribution. This process is essential to maintaining network health and building user trust.
Current Issue
There have been recent instances of some pool updates missing due to congestion on the Stacks network. Fortunately, this wasn’t a hacking issue, but it did result in some users’ rewards being distributed incorrectly. To strengthen security, we adopted a method of randomly filling the reward pool with rewards (about 3 rounds), but this issue resulted in some users receiving more rewards than expected.
Impact on users
Due to this issue, users received more rewards (approximately 70,000 STSW), with no cases where they received less rewards, but it was important to resolve this issue quickly because accurate reward distribution is one of the most important factors in DeFi platforms.
Solution and Progress
Our team will develop and deploy a hotfix to address this issue. This hotfix will improve the data update process to ensure that all pools are updated accurately even during network congestion. The contract is currently being deployed, and front-end modifications are also in progress at the same time.
Going Forward
We plan to quickly resolve any issues raised by deploying this hotfix. Additionally, we plan to monitor network conditions in real time and make the system more robust to prevent similar issues in the future. We will do our best to provide transparent and stable services to our users.
Stack Ecosystem Updates
The Growth of Memecoins on Stacks
In recent years, memecoins such as Dogecoin, Shiba Inu, and Pepe Coin have gained huge popularity around the world, and this trend is especially expanding within the Stacks ecosystem. The Stacks ecosystem is where various meme-based tokens, including Welsh, are derived, many of which are actively traded and growing on the Stackswap platform.
Thanks to the permissionless nature of the Stackswap platform, anyone can list without sanctions or listing rejection for specific coins, so various meme coins are emerging. Some of these, like Welshcoin, are expected to establish themselves as important assets within the Stacks ecosystem and play a positive role in expanding liquidity and TVL within Stacks. This is one of the ways the Stackswap platform contributes to the Stacks ecosystem.
However, investing in memecoins involves very high volatility and risk, and can sometimes lead to large losses. Therefore, users should avoid reckless investments and make decisions carefully. Due to the permissionless nature of the Stackswap platform, we cannot provide any responsibility or compensation for any losses that users may experience due to listed tokens. This means that the Stackswap team does not manage or control the listing of coins, and all users are fully responsible for their own investment decisions. With this in mind, you should always be careful when investing.
In conclusion, the growth of memecoins and the expansion of the Stacks ecosystem interact positively with each other, and while this interaction promotes diversity and innovation in the ecosystem, it also comes with risk factors such as rug pull. Not all memecoins will be successful, but some will create significant value and play a meaningful role in the ecosystem.
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