AntiMatter token swap important update

Summary

  • AntiMatter team made an announcement about a new token snapshot and withdrew Uniswap liquidity to prevent the hacker from getting away with more funds
  • MATTER holders will be airdropped the exact amount of tokens held prior to Chainswap being hacked. This includes MATTER holders on centralized exchanges. BSC and HECO holders will be airdropped on Ethereum. The snapshot is taken at the block height: 12801461 (Timestamp: (Jul-10–2021 07:16:11 PM +UTC)).
  • The exact dates of the airdrop are to be announced.
  • The antiMatter team will provide liquidity on Uniswap at the beginning of the airdrop and start the trading event.

On Saturday, July 10th, 2021 at 20:47 UTC, there was a vulnerability exploit in the ChainSwap protocol that impacted MATTER tokens on both Ethereum and Binance Smart Chain. Hacker was able to mint MATTER tokens from the Bridge Contract. Trading of the MATTER token on centralized and decentralized exchanges was massively impacted.

Immediately after the hack was detected, we made an urgent announcement for a snapshot and issuance of a new token in replacement of the compromised MATTER token. The announcement and action plan were as follows:

  1. We informed the liquidity providers and withdrew liquidity from Uniswap to save the LP funds
  2. ChainSwap froze the mapping token on Binance Smart Chain and forced the burn of the hacked MATTER in the hacker’s wallet.

Snapshot and airdrop new token:

This means that MATTER holders will be airdropped the exact amount of tokens held prior to Chainswap being hacked. All the MATTER holders on exchanges will get their old tokens redeemed to match the amount at the time of the snapshot.

For all Binance Smart Chain and Huobi Eco Chain holders impacted, they will receive the equal amount of MATTER they had before the Chainswap hack on Ethereum. This will ensure no permanent loss of your non-Ethereum balance prior to the attack. Due to large token holders, the token airdrop will is expected to take days.

The exact dates of the airdrop are to be announced.

The antiMatter team will provide liquidity on Uniswap at the beginning of the airdrop and start the trading event.

Improvements and new developments

  1. The Antimatter perpetual option V2 had an unexpected delay due to the arbitrage issue with V1, as the community is aware of. Over the past month, we have worked with external parties within as well as outside of the crypto space to find the best solution and we have started implementation of the new model on the contract level.
  2. As we firmly believe in financial use cases for NFTs, the newest product addition under the Antimatter hub is a financial NFT platform which will be complementary to our current product line. We will soon reveal more details to the community.
  3. To show that the dedication and belief in our project is stronger than before, now that we have learned from the recent situation and taken measures to improve the protocol’s security, the Antimatter team has decided to increase the lock-up for the team tokens with two more years.

Antimatter is an innovative lightweight on-chain defi derivative protocol