Dear BitMart Users,
Due to irreversible changes in TEDDY's tokenomics caused by the security loophole, the increase in token supply has led to a price drop. BitMart suspended the deposit and withdrawal of TEDDY along with its trading on July 25th.
According to official announcements, DRAC Network will issue a new token named DRAC. TEDDY will then return to TeddyDoge and continue to circulate. At the same time, two snapshots has been taken before and after the attack to determine the allocation of the DRAC airdrops.
The first snapshot was taken on July 24th, 2022, at 0:00 (UTC). (To protect the interests of token holders before the attack, the more TEDDY you hold before the attack, the more DRAC you will get.) As per project's request, these TEDDY token holders will be airdropped on BitMart with DRAC token at a ratio of 572 : 1.
The second snapshot was taken on August 3rd, 2022, at 4:00 (UTC). (To protect the interests of token holders after the attack, the more TEDDY tokens you hold after the attack, the more DRAC you will get.) As per project's request, these TEDDY token holders will be airdropped on BitMart with DRAC token at a ratio of 3055517 : 1.
TEDDY holders mentioned above will receive the DRAC airdrop in the following few days. Both DRAC and TEDDY will be in circulation. The old coins will not be exchanged for new coins.
Please note, according to the project team, the final numbers of TEDDY tokens eligible for the DRAC airdrop are 5723295176 ( pre-atttack amount) and 302676502070307 (post-attack amount) respectively, which differ from the initially estimated numbers. The total amount of DRAC airdrop for each snapshot remains the same.
Learn more about the airdrop ratio and rules posted by the project team here: https://twitter.com/DRAC_Network/status/1557272309186138113?s=20&t=ARPn0PWfc5bReEXxSc1R_w
DRAC token contract address： 0x123458C167a371250d325Bd8B1ffF12C8AF692A7
Please pay attention to the follow-up announcements for the listing schedule of DRAC and TEDDY.
BitMart Team
Aug. 12, 2022
