Holder Finance Blog - A highly scarce value retention token on the crosschain DeFi network

Holder Finance AMA with Project Lead @RRisMyMan (Crypto Cowboy) and Lead Developer @gordongekkoitaly

We hosted an internal AMA yesterday at 4 PM UTC on our main Telegram group to update our community with the latest developments on the project. Here is the recap so you can keep tabs on the news.

AMA

Gordon Gekko | HFi Holder.Finance

hello

Gordon Gekko | HFi Holder.Finance

I am here

Crypto Cowboy HFi holder.finance

before we start we will mute this chat then after the detailed explanation from our lead dev we will open back the chat during 5 min to let you ask questions you have. After that, we will answer your questions.

Crypto Cowboy HFi holder.finance

hello again Andrea

Gordon Gekko | HFi Holder.Finance

hello everybody, thanks for being here

César Patiño

Good afternoon everyone

Crypto Cowboy HFi holder.finance

Ok, the chat is now muted. Let’s start with the AMA

Gordon Gekko | HFi Holder.Finance

let’s start to explain what happens with the first 2 pools and what we discovered.

Gordon Gekko | HFi Holder.Finance

the two initial pools had a bug on the rewards calculations, during the claim session, the HFS

rewards were miscalculated without putting to zero

Gordon Gekko | HFi Holder.Finance

in this case, some ppl start to claim and mint a lot of HFS

Gordon Gekko | HFi Holder.Finance

we discovered this very soon and we decided to put on hold the HFS contract (PAUSE) and to

revoke minter role on the two pools SC

Gordon Gekko | HFi Holder.Finance

in this case, we stopped the faulty pools.

Crypto Cowboy HFi holder.finance

SC stands for Smart Contract

Gordon Gekko | HFi Holder.Finance

After this, we discovered the bug and check internally why this bug wasn’t highlighted during the

security assessment and testing. in the meantime, we verified if the amount of HFS minted was

more than planned. thanks for the quick reaction the amount of HFS minted was lower than

planned and also for the ppl that abuse the systems (we know which wallets abuse the 2 pools).

Gordon Gekko | HFi Holder.Finance

we decided to calculate all the pending rewards for everybody also for who abuse because the

numbers were right and in this case, we decided to give the right amount of HFS to everybody

according to their LP staked.

Gordon Gekko | HFi Holder.Finance

the 2 pools have inside a multiplier. this variable determinate the amount of token to be

minted for each block

Gordon Gekko | HFi Holder.Finance

we put this multiplier to zero before the revoke of the minter role because was the quicker

solution. with a multiplier to zero no more rewards for each block.

Gordon Gekko | HFi Holder.Finance

After these actions we review the entire code in order to launch the new farming pool, do again

testing and talk with the audit farm for verified everything. the new pools are still live and

working correctly.

Gordon Gekko | HFi Holder.Finance

we changed also the UI in order to

Gordon Gekko | HFi Holder.Finance

disable the stake button on the old pools

Gordon Gekko | HFi Holder.Finance

but unfortunately, someone stakes additional LP tokens in the old pool.

Gordon Gekko | HFi Holder.Finance

this action performed by this wallet trigger the rewards to this specific wallet to zero thanks to

the multiplier.

Gordon Gekko | HFi Holder.Finance

In this case, this user had his/her LP tokens staked in the contract but with zero rewards. it’s not

important for the rewards process because we already decided to mint manually once per week

the HFS for everybody

Gordon Gekko | HFi Holder.Finance

when the 2 pools came to the end of the period the website shown the Unstake button

according to the right functionality of the pool.

Gordon Gekko | HFi Holder.Finance

but unfortunately, without claiming the HFS you cannot unstake the LP

Gordon Gekko | HFi Holder.Finance

and claiming the HFS means mint an infinitive supply of HFS, crashing the LP for everybody

Gordon Gekko | HFi Holder.Finance

so we checked why just one user was able to unstake his LP token and the only one was this

the user that put additional LP inside the contract after we set the multiplier to zero.

Gordon Gekko | HFi Holder.Finance

for this user the rule is true, he/she can unstake the token because the reward is already zero.

Gordon Gekko | HFi Holder.Finance

but for the other ppl unfortunately not.

Gordon Gekko | HFi Holder.Finance

we tried to replicate this behavior but the pool was already ended ( you can see this tx on the

blockchain with this revert error)

Gordon Gekko | HFi Holder.Finance

so discussing internally we analyzed multiple solution and the best for you was to compensate

the LP token with the exact amount of HF and BUSD in pair taken from the snapshot

Gordon Gekko | HFi Holder.Finance

we also put an additional bonus in HFS for this

Gordon Gekko | HFi Holder.Finance

this is what happens after the closing of this pool and for HFS and HFI we are not going to modify

the supply

Gordon Gekko | HFi Holder.Finance

now I’ll be glad to answer any additional questions from you guys

Crypto Cowboy HFi holder.finance

[In reply to Gordon Gekko | HFi Holder.Finance]

Indeed we are waiting for the 9th of July (Friday) that the LPs are unlocked to send BUSD + HFi

or HFS to affected farmers + we will send a 15% in HFS for the inconvenience

Crypto Cowboy HFi holder.finance

Ok guys now the chat is unmuted you can ask any questions during 5 min

Crypto Cowboy HFi holder.finance

then we will mute again to answer those questions

Alejandro Kensei

thanks for the info. There has been a strong accusation of the team being selling their tokens.

Can you confirm/deny this?

Crypto Cowboy HFi holder.finance

[In reply to Alejandro Kensei]

some team members have sold part of their tokens to have a return of their work since October

I think we can’t blame them for this. Btw I decided to not claim the full amount of HFi which was

provisioned for the team (10 HFi a month until October) seeing as the current situation and to

show to you all that we want this project to succeed as you all

Hertz_sam

Thanks, guys…… how much HFS was exploited?

Gordon Gekko | HFi Holder.Finance

[In reply to Hertz_sam]

Zero

Gordon Gekko | HFi Holder.Finance

because the amount of HFS exploited was below the single quota of each exploiter

Gordon Gekko | HFi Holder.Finance

according to their LP staked amount

Hertz_sam

So for those that claimed more HFS how did you account for the excess HFS they got?

Hertz_sam

[In reply to Gordon Gekko | HFi Holder.Finance]

Gordon Gekko | HFi Holder.Finance

we make the calculation according to their LP quota

Gordon Gekko | HFi Holder.Finance

and the final amount of HFS for them was higher on what they got in the early stage

Hertz_sam

Does the team have a vested token that was meant to be locked?

Gordon Gekko | HFi Holder.Finance

we performed 5 minting actions and they didn’t receive the pro quota in the first 2 rounds

Gordon Gekko | HFi Holder.Finance

because they have already their HFS rewards

Jason

how many devs are there? seems like the tea is slow at pushing out functional product

Gordon Gekko | HFi Holder.Finance

[In reply to Jason]

we modified the team after the exploit, you probably see different names in and out. I cannot

give more details about the new team because there is news attached on this. I can share that

a system integrator is now working with us and not only to close the remaining app

Gordon Gekko | HFi Holder.Finance

this news will be shared by our Project Owner when all the details will be outlined. from the dev team, I can tell you that we are 6 in total

Hertz_sam

[In reply to Gordon Gekko | HFi Holder.Finance]

thanks for the clarification… so we can confirm our total no of tokens is still intact and being

minted according to plan?

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

yes

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

how do we prove this sir? How much hfi token has been claimed by the team so far?

Crypto Cowboy HFi holder.finance

60 HFi have been minted so far according to the plan and the WP. Andrea will revoke the SC for

the team tokens unlock and we will provide you the info once available

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

Thanks

Alejandro Kensei

Another one regarding the limit orders and metadata. If I’m not wrong, there are now many competitors already providing the first feature in several networks. When are we having this

feature in holder finance and what’s the roadmap in regard to tokens that will be included for

limit orders? And the other one, ETA for the metadata?

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

the strategy changed a bit also to accommodate other functionalities, like the bridge and the

farming pools.

Gordon Gekko | HFi Holder.Finance

we have a plan to release the multiple AMM integration before the metadata because the

ethereum fee seems to be not a problem anymore

Gordon Gekko | HFi Holder.Finance

we are still waiting to see if London fork can put some benefits like Berlin did

Gordon Gekko | HFi Holder.Finance

so it doesn’t make sense for us to continue to work on this engine.

Gordon Gekko | HFi Holder.Finance

if you want to compare metadata, it’s like what dxdy did in 2 years. we are close to doing this but

we have to manage our funds carefully and release something that it’s an innovation and not a

simple copy and paste

Gordon Gekko | HFi Holder.Finance

multiple AMM means that our limit order can take advantage of different AMM and execute the

order on the best rate without triggering this information off-chain

Crypto Cowboy HFi holder.finance

[In reply to Gordon Gekko | HFi Holder.Finance]

Indeed and will permit us to integrate several DEXes starting with Waultswap

Hertz_sam

So in terms of product deliverables and timelines, can you itemize all this in sequence and when

we should expect their delivery?

Gordon Gekko | HFi Holder.Finance

we are going to release documents that summarize this plan

Hertz_sam

[In reply to Gordon Gekko | HFi Holder.Finance]

when should we expect this?

Gordon Gekko | HFi Holder.Finance

I’d like to point out that planning is important, but we need also to react quickly in case of

different opportunity or threats

Hertz_sam

indeed

Gordon Gekko | HFi Holder.Finance

this is what happens when we started the project on ethereum and we decided to move

everything on BSC

Gordon Gekko | HFi Holder.Finance

we decided to do this and build up our gateway because Binance didn’t allow to do this

Alejandro Kensei

[In reply to Crypto Cowboy HFi holder.finance]

There have been some complaints in the WaultSwap TG about taking too long for the limits

orders in WaultSwap to become available. This could be a game-changer for both Wault and Holder Finance. Any hard commitment/ETA for this? (realistic please)

Alejandro Kensei

[In reply to Gordon Gekko | HFi Holder.Finance]

they have their own plans to do it if I’m not wrong

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

I can tell you the SC is ready, today we realized the testnet environment (2 swaps with 2 pairs and tokens attached), now we are starting the testing phase

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

ofc, we decided to build up a gateway in weeks

Gordon Gekko | HFi Holder.Finance

and a gateway is something to design carefully because it’s going to mint tokens on both chains

Gordon Gekko | HFi Holder.Finance

so we spend all our energy to create a fully functional gateway with all the security features on top of this.

Crypto Cowboy HFi holder.finance

[In reply to Gordon Gekko | HFi Holder.Finance]

yes and I would add without taking a service fee as most gateway platforms out there

Gordon Gekko | HFi Holder.Finance

we had several attempts from hackers to cheat the node and mint HFS/HFI for free

Gordon Gekko | HFi Holder.Finance

and the server put on hold our service in case of attack

Gordon Gekko | HFi Holder.Finance

that’s why we had some delays on the transfer between the 2 networks

Gordon Gekko | HFi Holder.Finance

the gateway was necessary for doing the IDO on BSCPad and on Wault

Crypto Cowboy HFi holder.finance

Indeed

Gordon Gekko | HFi Holder.Finance

so we changed the plan again in order to be ready for this opportunity

Hertz_sam

People have been complaining about our activities and price impact…. what is the roadmap

doing to improve this outcome?

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

to boost back the price action we decided that we will migrate our LPs on Waultswap which will

be more beneficial for the project

Hertz_sam

[In reply to Hertz_sam]

When should we expect the itemized list of project deliverables and timeline?

Crypto Cowboy HFi holder.finance

We will proceed after the unlock of the current farming pools to let them time to ppl to migrate

their own LPs there

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

you mean we will move lp back to Wault or from Wault?

Hertz_sam

[In reply to Gordon Gekko | HFi Holder.Finance]

when this sir?

Gordon Gekko | HFi Holder.Finance

we will do it by the end of this week

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

no, I meant from PCS to Wault

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

Good

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

although i don’t see how this will help the price though

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

by developing the partnership with Wault along with integrating their swap into our platform

will bring both users of the product and buy pressure on the HFS price

Alejandro Kensei

[In reply to Hertz_sam]

neither do I. Price dumped in both tokens terribly. What-s the plan to recover, if any?

Alejandro Kensei

still, holding HFS will make fees zero for limit orders or how is it going to work?

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

this will be part of the big project so probably we will need to take time in the next AMA

Hertz_sam

It’s important we continue to have open communication with the broader investment community so everybody is on the same page…. Well done guys

Alejandro Kensei

[In reply to Hertz_sam]

fully agree

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

thanks, guys for your attendance and your continuous support

Gordon Gekko | HFi Holder.Finance

[In reply to Hertz_sam]

thanks

Alejandro Kensei

weekly AMA until things are more calmed maybe?

Crypto Cowboy HFi holder.finance

be sure that it isn’t because we are not connected on TG that we are not working

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

yes we can organize a monthly AMA for sure and not only for this period

Crypto Cowboy HFi holder.finance

[In reply to Alejandro Kensei]

we will plan another AMA next week to go into platform details and future plans for Holder

Finance

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

sure… that will be very helpful

Alejandro Kensei

[In reply to Crypto Cowboy HFi holder.finance]

awesome

Gordon Gekko | HFi Holder.Finance

we are going to prepare a plan that it’s not only for Holder…

Gordon Gekko | HFi Holder.Finance

so give time to prepare everything, work on the project and talk with you guys

Alejandro Kensei

I know you said 5 minutes but, need to ask this last one, please…. Marketing campaigns? any

plans you have it’d be great if you could share with the community

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

this is part of the next phase for Holder… we are going to share this when we will have all the

material ready

Alejandro Kensei

[In reply to Gordon Gekko | HFi Holder.Finance]

good, thanks

Alejandro Kensei

but as you can see we all might have the same concerns/questions

Gordon Gekko | HFi Holder.Finance

[In reply to Alejandro Kensei]

yes, and we discussed this a lot in the last month internally too…

Hertz_sam

the focus should also be on the team’s KYC, HFI minting and what you’ve done to hold that back for

now!

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

I have been KYCed by Assure and they have all the proofs to provide about this process. All the

info about the token hold is in the blockchain and public

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

It’s not about you but the project… all I’m saying is there must be a documented response to this guy’s claims and published on social media sites too!

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

Yes once the ama recap is done we will provide that info with the SC addresses, etc.

Alejandro Kensei

the person that accused the team is about to publish this

Alejandro Kensei

How are you going to handle it?

Hertz_sam

[In reply to Alejandro Kensei]

@RRisMyMan @gordongekkoitaly I think we should respond with the same vigor and also

publish his blackmail chats…. except you guys have some other plans!

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

Unfortunately, I blocked this guy so the history of the chat has been deleted. Anyway first stuff

he stands as “no working product” isn’t true as our limit order platform is working

Hertz_sam

[In reply to Crypto Cowboy HFi holder.finance]

This is a PR war…. so you must go beyond your response on this stage to respond to the global

community.

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

This guy threatened me to disclose his accusation except if I agreed to pay him 2 HFi and 5000

HFS.

We are transparent in all our communication and build the project since last October. All info

about tokens are available on the blockchain and public.

He was throwing threats and false statements on our old pools which we answered in the

earlier AMA.

This same guy was accusing us to refund old pools only when current pools are unlocked

whereas the refund will be done on the 9th and current pools are locked until the 15th. For me,

it is enough to consider this as a free fud as so far no tangible proof has been provided by him

about his accusation of the funds of old pools.

Furthermore, according to our coming plans about product development, partnerships and so

on which will be detailed next week in our next AMA this should give you all information you

need to be sure that this is only free fud

Crypto Cowboy HFi holder.finance

[In reply to Hertz_sam]

Btw this guy joined Twitter last month and has 0 followers…

Gordon Gekko | HFi Holder.Finance

Gordon Gekko | HFi Holder.Finance

ok let’s focus on the right things and move on

Crypto Cowboy HFi holder.finance

[In reply to Gordon Gekko | HFi Holder.Finance]

Yes indeed

As I said we answered all his unfounded accusations in the AMA and we will recap it for you

guys attaching the old pools contracts like this you have all the visibility on it

OLD HFI/BUSD POOL 0xF739eBf3d4A12AC97b74F9a025416006f7632CB5

OLD HFS/BUSD POOL 0x9F549Fb672ad176c09F6b5A59810BcDdbBE5bc06

Gordon Gekko | HFi Holder.Finance

this guy is welcome to join the next AMA so if there is something to be discussed we are ready

to talk

vijay thapa

[In reply to Crypto Cowboy HFi holder.finance]

When 30 days pool gets finished on 15 July…at time of unstaked…value of BUSD would be as per

market price?

Crypto Cowboy HFi holder.finance

[In reply to vijay thapa]

Indeed it will be at price market

Wen Rebase

Wow, awesome AMA. Sad I couldn’t attend live but great questions from @HERTZ_SAM and

@akensei. This pretty much covered all of my questions too. I also would like to highlight how it

sounds like there have been so many positive developments in the background that were not

covered publicly until today. For example, how sc successfully fended the hacker attempt of

exploit or the decisions to change team payments/claims of their rewards to help the project.

The team may be thinking out of modesty that these are small points not worthy of the bragging.

But it’s really important to bring such information to the community’s attention regardless. So

regular AMAs like the one today would certainly help with this in the future

Crypto Cowboy HFi holder.finance

[In reply to Wen Rebase]

Thanks for the support mate we are doing the best for the project as always since the beginning

We find this AMA great as well to inform the Community in a better way. We will do another

ones and next week we will do one as well

Thanks for reading! Stay tuned for updates.

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