Automatic Liquidity Locking + Updated Timeline
Hello Spaceminers! In light of the increasing number of rug pulls recently, we received numerous questions and feedback from our community in regards to the safety of our presale. “How can we be sure that the team will lock presale liquidity as promised?” was the most frequently asked question. The community’s concern was valid and on point, not just for SpaceMine, but for the entire crypto space. Liquidity locking should be a non-custodial process, and we decided to prove that it can be.
Our dev team reached out to all available liquidity locking platforms to explore the possibility of an integration on the smart contract level, and we’re incredibly grateful for the support that we received from the Unicrypt team. Mark at Unicrypt kindly reviewed our integration code out of his busy schedule, and has recently given his approval of our implementation.
What Does This Mean?
Our presale contract is integrated with Unicrypt’s liquidity locking contract, but what does that mean for presale participants?
- No way to rug, SpaceMine team does not have access to the liquidity portion of presale funds.
- Uniswap liquidity generation to Unicrypt liquidity locking will happen together automatically, in a non-custodial way.
- In the event of any unforeseen bug in the automatic liquidity locking process, we have an emergency drain function which will send all funds (both ETH and MINE) to Unicrypt deployer address, and Unicrypt team will lock it for us.
New Timeline
For more details about the presale, please refer to our previous article, all the logic will remain the same except for an updated timeline: https://spaceminedefi.medium.com/everything-you-need-to-know-about-presale-c11d2be18171
Presale will open for whitelisted addresses on Saturday, 2020/12/05 3:00 PM UTC. Whitelisted addresses will have 12 hours to send up to 4 ETH to the presale contract to receive up to 40 $MINE. Sending more than 4 ETH will cause the transaction to be rejected. After 12 hours, we will disable the whitelist restriction, so anyone can send up to 4 ETH to receive what’s leftover in the contract for the next 12 hours. Note that the individual max cap of 4 ETH per address will remain effective throughout the presale process.
Presale officially ends Sunday, 2020/12/06 3:00PM UTC, then automatic liquidity locking process will kick off and leftover $MINE will be burnt. In the event of any unforeseen bug, emergency drain function would only be available 24 hours after the end of presale, which would be 2020/12/07 3:00PM UTC. In this case, all funds will be routed to Unicrypt deployer address and manual liquidity locking will be conducted by Unicrypt team.
We want to thank every community member again for your consideration and support. To delay presale and wait for Unicrypt to review our code was a collective decision by our community, which enabled us to make this happen. We sincerely hope that after we demonstrate the feasibility of automatic liquidity locking on the contract level, future projects could adopt this method, and together let us make this space one step safer.
Join us on the voyages of the Starship Enterprise.
- Website: https://spaceminedefi.com/
- Discord: https://discord.com/invite/WgPWs4kqEE
- Twitter: https://twitter.com/spaceminedefi
- Telegram: https://t.me/SpaceMineDeFi
