1/n ETHW Core to Introduce Liquidity Pool Freezing Technology to Protect Users’ Assets
2/n Right after the Ethereum PoW hardfork, especially for the initial several blocks, users’ ETHW tokens deposited in the Liquidity Pools, like Uniswap, Susiswap, Aave, Compound, will be swapped or lent out by hackers and scientists using deprecated and valueless USDT, USDC, WBTC
3/n , which will create a huge mess to the whole network and community. Hereby ETHW Core has to make the hard decision to temporarily freeze certain LP contracts to protect users’ ETHW tokens until the protocols’ controllers or communities find a better way
4/n to return users’ assets.
The freezing will not be applied to the staking contracts that only involve a single asset ( eg. ETH2.0 deposit contract and Wrapped Ether ).
5/n Last but not least, ETHW Core recommends everyone withdraw their ETH from LPs (eg. DEX and lending protocol) before the hardfork.
1/x [ a long long thread ]
The Manifesto of Proof-of-Work: An Open Letter to the Ethereum Community
“He who fights too long against dragons becomes a dragon himself; and if you gaze too long into the abyss, the abyss will gaze into you.”
- Friedrich Nietzsche
2/x 8 years into its founding, the almighty Ethereum Foundation (TEF), once a hero and now a Crypto version of the tech behemoth, is abandoning “decentralization” as part of its missions. The hero has become the dragon, and the signs have been many.
3/x The DAO Hack
We never forgot that, in 2016, without the community’s agreement, the “immutable” ledger was rolled back to recoup the financial losses during The DAO Hack.