About an incident in the TAKE bonding curve distribution

Dear community,

Thank you for taking part of the TAKE bonding curve distribution. 151,634 of the 200,000 publicly offered TAKE tokens having been distributed. This is very exciting and would not have been possible without your support.

We want to share some information with our contributors as a matter of transparency: Take.finance team didn’t manipulate with any orders were processed in bonding curve distribution. We found one address who bought first 77,450 TAKE and spent 150 ETH. The prices correspond to bonding curve price were not bought into exploit or something this.

We want to emphasize that this incident was not specifically enabled by any parameter of the TAKE token distribution, or no limits used in the distribution. This was a fair distribution with equal rights for everyone but unfortunately they were used by one whale for the sole benefit.

The fact that somebody bought huge part of tokens in beginning on the Bonding Curve with the potential risk of future distribution was brought to the attention of the Take team very shortly. At that point, despite an attempt being made, there was no technically preventative measures or postpone the distribution, as any alterations to the distribution would have required a termination of token distribution contract and creating a new one.

Although the price curve of the distribution have worked as intended , we take full responsibility for the choice made in selecting the distribution model. Through the use of Bonding Curve, it was our honest intention to provide the fairest and most decentralized possible method for the public distribution of TAKE tokens, without manipulations, gas wars or ability to use multiple wallets to gain an edge. What our community got did not reflect these ideals, and was no better than having an individual whale buy up the lower end of the distribution by any of the known methods of public distribution manipulation. For not being able to protect our participants from this, we are sorry.

US residents are not allowed to participate!

Best,

Take Team

Homepage: www.take.finance

Medium: https://take-finance.medium.com

Twitter: www.twitter.com/takefinance