Today we were able to observe TWD sale trought Pylon Protocol. Big number of investors staked their $MINE to take part in this sale. The sale was postoned couple of times which is alright in my opinion. After the sale has started it was noticed that minumum amount to participate was increased from 2k to 20k what made most of investors almost impossible to participate. The other thing happened is total Terra network failure. It was impossible to sign any transaction during the sale and even later. I have posted 4 questions on twitter but they will probably get igonred. So I ask here too :
Why didn’t you shut down the launch immideatly after you noticed that minimum amount is set to 20k?
Why some people were prepared to deposit such a big amount? Please don’t tell us about “whales” who found out that they can deposit more than 10k. They didn’t even try to deposit 10k at first just fired 100k transactions away ET)
Do those miracle “bots” even exist or you just made a sale for family and friends?
Is Terra network so unstable that small launch like this can totally paralyze it?
I think someone needs a little clarification regarding this account Extraterrestrial Finder
This guy staked 100k MINE which theoretically allowed him to invest 10k UST into TWD sale. Sale is postponed from 12pm to 1:30pm (my local time) and this guy makes transaction worth of 100k UST at 1:31pm when nobody even noticed that there was a “mistake” in small/max amount numbers. Extraterrestrial Finder
Moreover that transaction goes throught despite all over transactions were stuck due to “bot” activity.
Any explanation on this?
I would really like to know that as well.
While me and 300+ members that follows me attempted this IDO after me spending over two weeks on preaching them how great #TERRA is compared to other chains and had most of them convinced and fascinated after many many days of training them on Terra Station, Anchor & Mirror Protocol… Terra Station, Pylon and $MINE staking… not to mention many other step by step to be prepared and ready for $TWD participation with $MINE staked… I myself with over 100K $MINE staked and many of my members in between 100K and 10K staking however, not a sing one of them could obtain the transaction to go through… I hold over $250K worth of $LUNA and many of my members became Lunatics in the past couple weeks only to disappoint them and have them lose money and so many hours wasted… Many of them look up to me for this and I dont know what to tell them.
Why was $UST pre-deposits considered to avoid network congestion and why were some of the over the limit guys were able to make the transaction to go though?
Even being extremely optimistic, this is not acceptable… I didnt panic sell but many of my members panic sell and lost lots of money within a few hours…
How is Pylon and/or TerraWorld intent to curate the victims of this failure?
Also, I took enough snapshots of how TWD was over sold beyond the limits and quickly changed back down after few minutes to the max.
Just refund and restart may not be enough for many of us!
Please help us regain trust in TWD, MINE and #TERRA
Pylon Team can you please research all the similar projects like yours and implement the things that are working. Here are a list you should research and learn from them so we can make better our protocol: https://www.coingecko.com/en/categories/launchpad
All the concerns you have are valid but I think #4 is the one that CANNOT happen more commonly as things move forward. Long term solutions that don’t involve major increases in transaction fees must be considered otherwise we become another etherium.