Ethereum
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ETH · 17w

Statement on the Dolomite.io Breach

Statement on the Dolomite.io Breach Addressing the Dolomite “Breach”

As many are aware in the community, our bonding curve did not go as planned. Many supporters have been asking PlutusDeFi to comment on the bonding curve experience and several of it’s issues with the launch.

We initially wanted to carry out the bonding curve due to the nature of it’s distribution, as staying in line with the philosophy and ethos in DeFi. It was our intention to have the bonding curve fairly distributed across our community. A fair chance for all to access and participate is what we envisaged. It acted as a bridge between the value the project had created from a year ago, to present day.

What actually occurred, was very far from this. We are disappointed and deflated at the past weeks of effort to execute this perfectly from our Team.

We failed in this phase and we apologise. We have learned that in the future there can never be too much concern, oversight and constant rechecking of the processes and DevOps of ourselves, service providers and partners. Reassurances should always be backed up by documentation and executions should be meticulously followed. These are the lessons we have learned.

It was in our best interest to allow time for a post-listing analysis on why problems occurred which raised complaints from our community. And to also speak with the Dolomite team to make our own assessment before we report back to the community.

Firstly, we would like to explain why we did not comment immediately. It was not clear what had just taken place at the bonding curve, with transactions to the sale executing before the agreed start time. At 1 minute 30 seconds before the official start time, the sale started prematurely. This was against the teams instructions. A script started purchasing PLT tokens in large blocks.

The bonding curve platform is solely owned and operated by Dolomite.io. We have no input or ability to control the pla...

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