Octopus Protocol has to commence V2 to V3 Token Migration
According to the CEO of Octopus, the bottom line of what happened was: CTO Chon Mars removed the LP tokens from the staking pools, removed LP from PancakeSwap, and also removed OPS tokens from the stacking pool. Chon Mars started selling the OPS tokens on PancakeSwap. After that, only 25k LP remained in the pool, which was donated by one of our users. The CEO requested that the LP be removed so he could stop dumping. They also asked Gate.io and BitMart to halt deposits at the same time so that they can keep the pricing stable.
The full details on what happened from the CEO on telegram: http://t.me/OctopusProtocol/2353557
In light of the recent sad events in Octopus Protocol, which featured the CTO, Chon Mars, stealing LP tokens and funds from
PancakeSwap, shutting down their staking system, and dumping obtained tokens on the market, caused a significant market dip.
To minimize further damage, the team had liquidity removed from PancakeSwap, warned users not to trade on Pancake, and locked deposits and withdrawals across all centralised exchanges.
The entire team expressed regret for the heinous behaviour and devised strategies to quickly move on and become even more powerful. They stated that they understand the value of confidence and support for the Protocol, and they will do everything possible to guarantee that it is not misplaced.
They express their gratitude to everyone who, after receiving the devastating news from the CEO on October 29th, offered suggestions on how to move forward. They are very appreciative to the community for sticking by them, not spreading false information and assisting them in any manner possible.
Now it’s time to move on to the V2 and V3 plans.
The V3 OPS tokens are powered by a new smart contract that the team has successfully put up and the V3 coin and contract are put up independently with the support of top-tier security experts, obviating any potential ex-CTO acts.
Users who staked on the platform will be able to see their staked amounts and prizes on the new staking interface that they are currently working on, and the team will immediately distribute the V3 tokens in 1:1 format to all existing holders of the V2 OPS tokens. For all existing OPS holders/traders across their official centralised exchanges, the tokens will be swapped from V2 to V3 immediately.
Summarily, Octopus Protocol (OPS) token V2 to V3 migration has begun. According to the Octopus Protocol team; the OPS V2 token will be converted to the OPS V3 at a ratio 1:1 swap ratio. The OPS V3 will be renamed OPS after the migration is complete. The token movement is supported by Gate.io, and user’s tokens will be swapped. You don’t need to do anything special if your OPS tokens are stored on Gate.io.
The OPS V3 trading address:
0xDf0121a3Ba5C10816Ea2943C722650C4A4B0dbE6
During the token swap, the OPS trading markets will be unaffected and please note that following the token transfer, Gate.io will only support OPSV3 tokens.
Octopus aims to provide unrivalled access through trust-less architecture and exposure to real-world assess.