What will change in the v2.

Now that you all know what happened with the v1, we will see how to bounce back with the v2, and everything that will change.

The vulnerability will be fixed

This is obvious. No other smart contract will ever be allowed to open trades, and we will limit the number of trades open & closed per block to a small number (around 10).

We have to keep admin rights

In the v1, I had renounced to all admin rights. I thought it was a good idea, because it would bring trust to the project.

But there is a big problem with this approach.

It doesn’t allow me to replace the trading smart contract by another one if a bug is found or if we want to add features, pairs, etc.

And it doesn’t allow me to create any new contracts for the GFARM ecosystem.

This is why we have to keep the admin rights, in order to grow long-term, add features, solve potential bugs, etc.

Goal: The trading smart contract will be repleceable, while the token, farm, and NFTs will stay the same.

Precise & transparent trading stats

At any point, everybody will be able to see the amount of GFARM burned and minted by the trading smart contract.

We will also use events to monitor every opened / closed trades.

Goal: monitor the trading activity more easily.

Pause function on the trading smart contract

If we want to add new features or fix a vulnerability, we have to be able to replace the smart contract by another one.

This means we have to be able to prevent new trades from being opened at any point.

Goal: Allow us to replace the trading smart contract & pause if any suspect activity is seen.

Bug bounties

We will of course give bug bounties to anyone who can find a bug in the smart contracts. We will use part of the dev fund for this.

Goal: Prevent a potential hack before it happens and reduce potential damages, as we did with the v1.

Fresh start

A GFARM2 token airdrop is not planned. The success of the v1 was partly due because the only way you could get the token was by farming.

The success of the v2 would be compromised because everyone would sell the tokens they received for free.

Goal: keep everything that made the v1 successful, and update/fix what didn’t work.

Everyone has to understand DeFi is risky, and while huge money can be made, one can as well lose everything.

Never risk more than you can afford to lose, please. You are responsible for your profits and losses.

We will keep you updated with the v2 work progress.

Thank you for reading.

New telegram group: https://t.me/gfarmtrading