BabySwap Explains what went wrong and why they are not at fault. They already have compensated the LP as which was a result of being blacklisted by HHNFT.
Sorry to bother you on this beautiful Friday, but we need to clarify on issues with HHNFT project team and make the right compensation.
We’ve been doing our best to support our collaborative projects, yet we noticed inauthentic accusations coming from the HHNFT team. HHNFT is a deflationary token with its unique mechanism. They reported to us that there’s no tax applied while users were trading on BabySwap, but wouldn’t give us enough time to check it through and manually set it up for them.
According to our devs, we have two ways to call contract for every trading pair, one with fees and another with no fees, to automatically test if the token has a deflationary mechanism (tax). If a project can call the contract with no fees, the contract will be identified as a non-deflationary token and won’t apply the tax on it.
Normally, a deflationary token won’t trigger the no-fee method, but HHNFT’s code somehow can pass the method with no fee applied. We needed to change the setting manually for them, but they refused to wait and chose to blacklist our LP and harmed users’ interests.
We are upset that our collaborative project didn’t work with us on putting the users interests first but chose to be against the interests. Your funds on BabySwap are SAFU and you still can withdraw your BABY staked in HHNFT pool, but the rewards may not be withdrawn due to the blacklist by HHNFT, and users who had HHNFT-USDT LP can not successfully remove the LP and get their USDT and tokens back.
Since HHNFT team refused to remove the blacklist of our LP contract, we decide to take the responsibility by compensating the USDT part of the LP, considering we don’t have their tokens as well.
We took a snapshot around 7:30–8:00 AM UTC, Feb 7th 2022 and found out the addresses that were involved (Contracts were deducted). Here’s list:
We already sent the compensation to these addresses, please check if you received it!
We always hope to collaborate with new gems and we do have certain criterias and standards to evaluate the projects. But we are only able to check their audits but not predict their future movements. As a DEX that welcomes all projects, we do recommend users to DYOR before investing just to make sure you can protect your own interest.
We are deeply sorry for the inconvenience it brings. Feel free to drop any advice to our Telegram group channel or Discord channel.
Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering investing your funds in any project and please, make your investments very cautiously. BabySwap will not be held responsible for any investment losses.