Layer2 Post-Mortem

START OF LAYER 2

The layer-2 farm had a rough start. We initially set the farm to start at block #17800000. But due to a logistic delay, if we had launched on schedule, we would have no time to market before the launch. So we decided to postpone the start block to provide a few days of buffer for advertisement. Unfortunately, there was a bug in the smart contract. The farm still started on our original time, block #17800000. We had zero marketing before launch. It was a disaster!

The team did 4 things within 12 hours to mitigate the problem:

1. apologized to our community and provided full transparency on the issue.

2. funded two dividend pools with $12000 worth of USDT.

3. put up an advertisement banner on the BitMedia network

4. fixed the start block bug in future smart contracts

As a result, the token price held up relatively well during the farming period.

END OF LAYER 2

Because there's a 30-day gap between layer-2 and layer-3, the community voted to set up a KEGG dividend farm where yield farmers can stake their KEGG to earn more KEGGs. Dev fees collected from Aug 20th onwards will not be burned. A total of 800 KEGGs will be put in a dividend pool that runs from the end of Layer 2 to the start of Layer 3.

DApp Development

Also, to provide native farm tokens with long-term values, the team is in the process of building a DApp that takes existing and future farm tokens as payment options. We'll release more details on this when we are further in the process.