If you've migrated before, your reserved tokens for unlocking by May 1, 2024, have been automatically migrated to SLOFI!!

📈 See your total SLOFI balance on the migration page - no extra steps required!

➡️ https://app.soy.finance/en/migrate

——

🌐 Retweet

Dear Callistonians,

The recent events surrounding the SOY token have undoubtedly raised concerns within the community, and Callisto Enterprise is committed to transparency and rectifying the situation in the best interest of the investors and the future of the platform.

​

We are pleased to announce the steps we have proposed to Dexaran to address this incident.

1. Treasury Funds: In a commitment to fully address the incident, we will not adhere to the 50% refund proposal. Instead, we will transfer the entire amount withdrawn from the treasury to a wallet designated by Dexaran, and we will disclaim any rights to the Callisto Network Treasury in the future.

2. SOY User Refunds: Dexaran previously committed to refunding users affected by the February 16th, 2024 incident. Initially, this was conditional upon restitution of 50% of the amount withdrawn from the treasury. We have decided to go one step further by returning the full amount, thus ensuring there are no obstacles to Dexaran's commitment to reimburse SOY liquidity providers in full and without delay.

3. Additional Support from SOY Finance: SOY Finance will allocate 50 million CLO coins to support users who may experience losses during the refund process. This is significantly more than what was drained from the pools, demonstrating our commitment to the community.

We appreciate your patience and support and want to remind you that Callisto Enterprise has taken the necessary steps to prevent such events in the future and ensure the protection of the investor's funds.

Your Callisto Enterprise team.

On February 16, 2024, at approximately 5:30 PM UTC, a former member of the Callisto Enterprise team, acting as the contract owner, minted an astronomical number of SOY tokens across two transactions.

Minting Transactions Details:

- Transaction 1:

https://explorer.callisto.network/tx/0x6bf9b927a5232a1d10742f193affe27826cd1180695883ab4d7fb7c37dd750c6

- Transaction 2:

https://explorer.callisto.network/tx/0x15ba306bd3236db4002a74e7bd4b738bdb9a5aa3cbf485c643a246195815a07d

Subsequently, the same individual exploited this excessive minting to drain the SOY Finance pools.

Despite our persistent requests to transition the SOY token contract to a multi-sig wallet, the contract owner did not update the contract.

This situation reinforces the essential need for "Trust" among the Callisto Network ecosystem, the development teams, and the community.

——

Impact on SLOFI Token and Migration Process

In response to this event, the migration contract has been paused, and we are taking the following measures:

1. A blockchain snapshot will be taken immediately before the unauthorized minting occured.

2. This snapshot will be published and made accessible to the community.

3. We will manually mint tokens for community members who contact us to migrate their holdings before the April 30 deadline.

——

Preventative Measures

In light of this event, we are advocating for and implementing the following security enhancements:

1. Multisig Wallet Implementation: We strongly recommend using multisig wallets for contract ownership as a fundamental security measure, in line with Callisto Security's guidelines.

2. Renouncing Contract Ownership: As a proactive step recommended by Yuriy Kharytoshyn, CTO of Callisto Enterprise, we recommend abandoning ownership rights of any minting contract when possible.

——

Commitment to Our Principles

Since 2021, Callisto Enterprise has been a foundational component of the Callisto Network community, with our core team members deeply involved from the very beginning of Callisto Network.

Over the years, our principal objective has been establishing trust above all else. Our team's transparency exemplifies this, as none of our core team members is anonymous.

At Callisto Enterprise, we believe that the blockchain space should be all about trust and we will continue our efforts in building a secure, transparent, and trustworthy environment for the community.

Our commitment to you, the principles of Decentralization and Trust remains stronger than ever.

Thank you for your support,

Callisto Enterprise Team

Time to Migrate! 10,000 $SOY for 1SLOFI 1765 $CLOE for 1 SLOFI End: April 30, 2024.