Skip to content

Latest commit

 

History

History
23 lines (12 loc) · 2.69 KB

91_Announcement.md

File metadata and controls

23 lines (12 loc) · 2.69 KB
Raw

Dear NEST Community Members,

As many of you may be aware, NEST trading on Coinbase has been suspended. Since the PolyNetwork hack in July this year, which resulted in the theft of over 134 million NEST ERC20 tokens, we have taken steps to protect the interests of our community. We have passed a resolution for the replacement of NEST tokens (announcement link: https://github.com/NEST-Protocol/NEST-Announcement/blob/master/89_NEST_Token_Contract_Replacement_Announcement.md).

Several exchanges, such as Huobi, MEXC, Gate, and others, have already supported the token replacement solution. If your tokens are held on these exchanges, they will automatically upgrade to NEST 2.0 tokens. However, Coinbase is currently unable to support this replacement solution. Therefore, all users holding NEST 1.0 tokens on Coinbase will need to manually use the official NEST replacement contract for the upgrade (link: https://www.nestprotocol.org/nest-replacement).

In the aftermath of the Ethereum hack, Vitalik Buterin steadfastly refused to compromise with hackers and significantly reduced the impact of their actions through a fork. Subsequently, the Ethereum community split into ETH and ETC, with the non-compromising ETH community becoming mainstream. The challenges faced by the NEST community today are strikingly similar to those encountered by Ethereum back then. Our community has also chosen not to compromise with hackers and will not facilitate the exchange of NEST 2.0 tokens for addresses associated with the hacker.

Currently, all exchanges except Coinbase have completed the replacement of NEST 1.0 tokens. And Coinbase still retains the deposit functionality for NEST 1.0 tokens. This may lead to hackers depositing stolen NEST 1.0 tokens into Coinbase, potentially contaminating addresses held by Coinbase users.

Therefore, regarding token replacement requests from Coinbase-related addresses:

  1. If your NEST tokens originate from Coinbase addresses and are not associated with hacker addresses (no suspicious activity), we will review and process your token replacement request if submitted before September 20th.
  2. For token exchange requests from Coinbase-related addresses submitted after September 20th, please send an email to hello@nestprotocol.org. Include your wallet address and provide evidence of your NEST token source, such as NEST token transaction or deposit records from Coinbase.

While the hack has had an impact on the NEST token's price, the NEST community will not compromise with the hacker. We will continue to build our community, improve our products, and NEST will ultimately become one of the most critical infrastructures in the decentralized world.

Thank you for your support,

NEST DAO

2023.09.07