2/ This is a behind the scenes story of what happened behind the launch.
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Conversation
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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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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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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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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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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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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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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You call this fair launch mate? Absolute disaster 😅
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We really hope so sir. Many have struggles and this was a window for us to get out of debt or have some extra. I am still down 50%. I dont blame you but it doesnt feel right at this moment. I still have my luna. But like many we had hopes and dreams with Anc
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