Removal of Tax
The 3% tax that was applied to all DEXF transactions has been turned off permanently due to changes in the upgraded farming contract. The tax is connected to the old farming contract and has been removed to prevent DEXF being incorrectly sent to the old contract. The primary purpose of the tax was to prevent bots during the DEXF launch, which we accomplished. We aren’t concerned about removing the tax as it wasn’t originally part of the DEXF’s tokenomics.
Governance is Temporarily Off
We have decided to wait until we are sure that the new contract doesn’t have any vulnerabilities before transferring its ownership back to the governance system. The new bug bounty will be run over an extended period of time to ensure the new contract doesn’t have any vulnerabilities. Ben Sash, founder of Dexfolio, has ownership over the contract with the following address: 0xd8A052a5d9683679580A6aA47263Bfc6F0d1dD57
Treasury Unlocked and Transferred to a New Wallet
In order to upgrade the farming contract, we needed to unlock the treasury tokens and transfer them to a new wallet. This was based on limitations in the previous token code pertaining to the treasury, which prevented us from deploying the updated farming contract. The new treasury wallet (0xB9426E860808a3c2cd7360a4788Be753B80De2Ea) is owned by Ben Sash, founder and CEO of Dexfolio.
We don’t feel that it’s necessary for us to lock the treasury funds at this moment in time because Ben is doxxed. We’ve proven our commitment to the project by building a real product and that locking the treasury offers very little in the security to the funds. At this point, it’s critical for us to focus on building great utility and a huge marketing pipeline rather than making the project “trustless”. We will, however, continue to abide by the release schedule of 19742.25 DEXF per day for 3647 days, starting from July 22. If the community decides that they feel that locking these tokens is important, their concerns will be taken on board, although this will distract from other, more pressing project needs.