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Do Kwon 🌕
@stablekwon
3/ At around 4:50 pm KST, we noticed a meaningful scale DDoS attacks against Terra Station's public nodes, while at the same time attempts to swap into the yet unfunded ANC-UST pools.
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Do Kwon 🌕
@stablekwon
4/ We could have funded the pools immediately at the time of the launch, but decided that contingency measures need to be taken for the launch to be fair. So I decided to fuck with the attacker a little bit.
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Do Kwon 🌕
@stablekwon
5/ We funded the ANC-UST pools at an exchange rate of 5M UST to 1 ANC - the bots proceeded to chew up the pools to the tune of 600-700k UST.
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Do Kwon 🌕
@stablekwon
6/ I then proceeded to withdraw all liquidity and raise the price to 10M UST to 1 ANC - similar price-agnostic buying behavior. We waited until the buys stopped.
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Do Kwon 🌕
@stablekwon
7/ Then we proceeded to deploy the pools at the intended price and open the pools. A quick skim through the initial purchase patterns shows that many people managed to acquire tokens. We will be looking at the distribution map of ANC tokens shortly.
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Do Kwon 🌕
@stablekwon
8/ Understood that prices rose very quickly after the announcement, and ANC is now trading at around $3.4 per token - As airdrop recipients take profits, prices of $ANC will be HIGHLY volatile in the coming days.
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Do Kwon 🌕
@stablekwon
9/ Anyhoo, wanted to be transparent about what happened, and share some of the fun we had throughout the launch. Toodles
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