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LINUX Refund Update We’ve completed data processing and loss calculations for all users who haven't yet received a refund. [IMPORTANT] Action required by June 14th 5pm EST: - If you don’t have any remaining LINUX: Please review your address and total loss in bit.ly/no-remaining-l… - If you still hold LINUX: Please send it to our admin address (EX7QGHSreah6EUtsPXCcen5R8JUyiVQWgz6aV4UspyMy) and review your total loss in bit.ly/has-remaining-… - If you never sold any LINUX but haven’t received a refund: Check if you still hold any LINUX. If yes, send it to our admin address. If not, please contact us via DM. If you believe your data is incorrect or missing, contact us via DM. If everything looks correct, you don’t need to do anything. Refund Process & Timeline After this post, users will have 2 days to review their total losses and report any issues. If no major issues arise, we will finalize the “recovery rate” and send partial refunds to everyone on the bit.ly/no-remaining-l… list. For anyone still on the bit.ly/has-remaining-… list after the deadline, refunds will be processed once they return their remaining LINUX to the admin wallet. FAQ Q: What is the “recovery rate”? Recovery rate = total available SOL for refund (~18K) / total losses across all users. We currently estimate it will be 95%+ (final number depends on any user-reported issues). This means that all users will recover the majority of their losses. Q: Why are total losses shown in SOL? What if I traded using other tokens (e.g. USDC)? We only have SOL (from the liquidity pool + auction fees) to refund users. Loss calculations are based on the SOL value at the time of your original transactions. Q: Why isn't there a hard refund deadline? We are handling massive on-chain data from thousands of people with many edge cases across various DeFi protocols to trade LINUX. It’s a very complicated process so it’s hard to guarantee an exact deadline without overpromising. That said, we don’t expect many more unhandled edge cases after users complete this data review. Our current estimation is the majority of refunds will be sent shortly after this review period. Q: Where will the refund be sent if I have multiple addresses? Refunds will be sent to the address where you either: - last sold all your LINUX, or - sent all remaining LINUX to the admin wallet.

GitFish V2 + LINUX refund This past week, we introduced GitFish to the world. We made a bold move to launch our first token, $LINUX, to test the new protocol in public. The launch attracted way more attention than we expected, but we also ran into some significant challenges: - We introduced a fair launch design to prevent sniping and protect our users. But combined with a long auction duration and uncapped raise, it absorbed the majority of demand by listing and eliminated all wealth effects for traders. - We were the ones to pick the first repo to launch on our platform. But the choice should have been up to the repo owner and community – to secure alignment and buy-in for the token. So here’s what we’re going to do next. $LINUX refund First, we’re going to refund all $LINUX bidders and traders, and retire the token. When designing the GitFish protocol, we built in a special “pool retirement” mechanism to address the problem of “zombie pools”. A zombie pool is a pool where almost all tokens have been sold back, but some SOL remains locked forever. Retirement allows these funds to be withdrawn, so they can be redistributed to users. Prior to this announcement, we invoked the retirement mechanism for the $LINUX pool, withdrawing 25,003 SOL to the admin wallet. We will use 100% of the funds, along with collected auction fees (deducting 25% for referrals), to compensate all bidders and traders who have realized a loss, as follows: - Bidders or buyers who never sold their $LINUX will get a full refund. This includes bidders who never claimed their tokens. - Those who sold all or part of their $LINUX will receive a partial refund. A detailed description of the refund mechanism, WIP table of users’ refund, plus supporting data and calculations is available here: github.com/gitfishdev/lin… [IMPORTANT] To all users, here’s what you need to do by June 5th 9pm EST (one week's time): - If you are holding LINUX tokens (including in LP), send it to our admin wallet to be eligible for a refund. Please don’t sell or otherwise transfer your tokens. - If you haven’t claimed your tokens yet, don’t do it. - If you’ve already sold tokens to the pool, you don’t need to do anything either. Admin wallet: EX7QGHSreah6EUtsPXCcen5R8JUyiVQWgz6aV4UspyMy Failing to follow the above means you will forfeit your refund. GitFish V2 Now that’s out of the way, we’re excited to announce we will shortly be releasing GitFish V2. We’ve been iterating fast based on the learnings of V1, and we’re excited to show you a newer, better version of GitFish. Here are the headline updates: - Going forward, tokens will only be launched by repo owners with their consent. - We’re making GitFish permissionless with the goal to onboard a lot more repo tokens. We’re going to stop launching tokens ourselves and focus on helping repo owners launch their own. - No more uncapped launches. All tokens will now have a much lower raise target. Once the target is reached the sale ends. We’re keen to ship something that will resonate with users and would love to hear your thoughts. What’s next? We will be hosting a Twitter Space on Friday 30th May 9am PST to answer questions about the refund process and share more about GitFish V2. Come chat with us. Sincerely, GitFish team