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PLA to PDA Token Migration
Introduction
Because of a smart contract hack resulting in the issuance of 1.79 billion invalidly minted PLA tokens, PlayDapp has taken immediate and comprehensive actions to safeguard your assets:
- Firstly, we have initiated the mandatory transfer of all PlayDapp-held PLA to a new, secure wallet, encompassing both locked and unlocked holdings.
- Secondly, prompt communication with some coordinated centralized exchanges (CEXes) enabled swift suspension of deposits and withdrawals, effectively minimizing potential losses.
- Thirdly, the PLA smart contract has been temporarily paused, and a migration based on a snapshot will be conducted.
- Lastly, PlayDapp has reported the incident to investigative authorities and is actively collaborating with web3 forensic investigation firms to track invalidly minted PLA tokens.
Our dedicated team is focused on protecting PLA holder assets and diligently working to minimize any associated damage. We are proceeding with the migration to a new PDA token to prioritize asset protection and ensure stability due to the loss of ownership over the token smart contract.
We are unwavering in our commitment to transparent communication and will provide continuous updates on our progress. We will guide and support the migration process, offering comprehensive instructions to ensure a seamless transition for token holders. We urge all PLA holders to stay informed through PlayDapp’s official announcements for precise information regarding the migration timeline, steps to engage in the swap, and any necessary actions.
About PLA to PDA Migration
1. The snapshot will be taken on February 26th at 08:00 AM (UTC+0).
We strongly advise against transferring PLA tokens to/from your wallet or any exchange until the migration process is complete. This is to ensure swift migration progress and effective tracking of invalidly minted tokens.
2. PlayDapp will collaborate with some coordinated CEXes with the migration from PLA to PDA reimbursing PDA to PLA-holding users.
- They will use the current user balance holdings as per the snapshot timing to reimburse affected users.
- They will receive the full amount of token holdings as per the snapshot timing at a 1:1 ratio.
- Users who have PLA tokens on those coordinated CEXes will not need to take any action.
3. For PLA holders whose wallets are not on those coordinated CEXes:
- PlayDapp has prepared a Migration Portal for PLA holders.
- To start your migration, we will invite you to the Migration Portal at a later date.
- PlayDapp will ensure holders undergo Know Your Customer(KYC) for Anti-Money Laundering(AML) compliance.
- The claim period will be one year through the Migration Portal, with an additional year of customer support, totaling 2 years.
4. PLA on both Ethereum and Polygon chains can be migrated to PDA on Ethereum.
5. PDA Smart Contract Address (ERC20): 0x0D3CbED3f69EE050668ADF3D9Ea57241cBa33A2B
6. PDA Smart Contract Audit Report: https://skynet.certik.com/projects/playdapp
