Mark 5
47 posts
We are currently tripling our developer headcount. Should be able to actively post again soon
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Mark 5 retweetledi
Now live at mintca.sh/burndrop
Mint Cash 🏛️♻️@wemintcash
Announcing the 100x Burn Cap Trial Program As a sign of respect for the original Terra whitepaper's 6th launch anniversary, March 17th, we will temporarily lift the burn cap from the current 1,000 USTC to 100,000 USTC on March 17, 2024 for a limited time of 24 hours. This will allow one person to burn 51,100,000 USTC at a time with maximum referrals -- and, consequently, claim more oppaMINT/ANCS tokens pro-rata. We are taking this opportunity as a temperature check to first see how an increased burn cap may affect (i) token distribution, and (ii) our core Protocol stability when we launch later in the year. If this trial rollout goes well, we will then proceed with permanently increasing the Burn Cap by a substantial amount. We will be rolling out more trials in the future, so please bear with us while we figure out how exactly token distribution schedules should look like!
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Mark 5 retweetledi
IT IS YOUR MOVE NOW
The Burndrop Portal is officially open: mintca.sh/burndrop
For activation code holders, share your referral code by replying to this post!
GIF
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@Catfish_86 Our devs are investigating - that should not be the case. We are finding that very high network congestion caused by the Burndrop on the Terra Classic network is throwing errors - we're looking into it!
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UPDATE #1: ISSUE IDENTIFIED - Burndrop to reopen in 2 hours
Thank you for your patience as our devs investigated the source of the issues faced by some Burndrop participants.
ISSUE SUMMARY
Shortly after the start of Burndrop, we noticed a number of users facing failed transaction errors, coupled with burnt USTC being picked up as “fees” instead of sent correctly to the official burn address.
Our devs immediately got to work to investigate the issues, first checking if the network congestion was causing the errors and then looking into any potential wallet issues. The issue ultimately lay in an undisclosed Terra Classic codebase update from five days ago. Previously, Terra Classic had a known error in their stability fee calculation. All wallet teams (and our devs) had addressed this issue by adding an additional tax calculation to compensate.
Five days ago, the Terra Classic core team resolved the bug without announcing the codebase change. So, our team and the wallet teams were not aware that the stability fee no longer needed adjustment.
This issue did not appear in testing and no other DApp on Terra Classic had encountered this issue from the time of the update - because no other DApp has been sending coins on Terra Classic.
Once we identified the error, our devs got to work and patched the Burndrop Program code to remove the stability fee adjustment. We have completed testing to ensure the stability fee issue is now resolved.
What's Next
Out of an abundance of caution, our devs will keep Burndrop offline for another two hours to conduct extensive testing and ensure that network congestion will not cause issues beyond the stability fee issue. Burndrop will reopen in two hours.
Affected Users
All users who were impacted by issues will be compensated for any incorrectly applied fees and will receive airdrop allocations adjusted for time. This means the airdrop allocation they receive will be equivalent to what they would have received had they successfully burned at the start of Burndrop. The fees refund and airdrop allocation will be processed system-wide for impacted users; our devs will work on this after full testing is complete.
For those failed transactions, the tokens that users intended to burn were burnt in the form of fees. This can be verified on-chain.
If you continue to encounter any additional issues or believe your issue is still unaddressed, please open a support ticket on Discord: discord.gg/Xx89PNv7g4
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Mark 5 retweetledi
THAT’S HOT
As a reminder, the Burndrop Program starts in 1 hour!
GIF
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Mark 5 retweetledi
WE MEANT WHAT WE MINT
You are invited to the Burndrop Program starting in 24 hours!
When: February 29th at 11:59pm GMT+9 (Korea) | 9:59am EST (USA)
Where: mintca.sh/burndrop
Before the portal officially opens, you will see a 404 error when accessing this link – this is normal.
RSVPs: By activation or referral code only
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For your reference, the Burndrop Guide: burndrop-docs.mintca.sh
Thank you to everyone who participated in our micro-challenges this week – we enjoyed reading all of your responses!
IMPORTANT: At the time of this post, new responses to the micro-challenges will no longer qualify for an activation code. For everyone who made the cut-off, the team will do one last batch of activation codes a few hours before the opening of Burndrop. Message us if you believe an error was made!
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Mark 5 retweetledi
THE BURN IS COMING
This week, we are running a series of micro-challenges for first access to the Burndrop Program, for when it opens on February 29th.
To participate in the activation code giveaways, either:
1. Respond to the challenge prompt in the comments of this post to qualify, or
2. 🔁 the challenge prompt
For our first micro-challenge, our ask is simple:
If Mint Cash had a mascot, what animal / person / thing do you think it should be?
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