IMPORTANT ANNOUNCEMENT
Hello everyone, we have been quiet on our Discord, Bitcointalk and social media for a reason. As well as completing both the front end and exchange, both of which we promised to release in the first week of April (We still are and are actually live now!
We encountered an error with the contract, we as previously stated tested the contract which we did on the Ropsten Test net however, as per the contract, the developers were limited to an investment of 3 ETH from 3 different accounts which we thought was enough (And is still the case).
But when we updated it on live, we made last minute changes further limiting the admin. This was done without testing because of the time pressure and we did not believe it would affect any of the other functions but it did affect 1 function, and that was the ability for other investors to invest who were not holders of the Developers contract addresses.
To further elaborate, we removed the below five functions from the original PoWH3D contract:
/*---------- ADMINISTRATOR ONLY FUNCTIONS ----------*/
/**
* Function #1: The administrator can manually disable the ambassador phase.
*/
function disableInitialStage()
onlyAdministrator()
public
{
onlyAmbassadors = false;
}
/**
* Function #2: In case one of us dies, we need to replace ourselves.
*/
function setAdministrator(bytes32 identifier, bool status)
onlyAdministrator()
public
{
administrators[_identifier] = _status;
}
/**
* Function #3: Precautionary measures in case we need to adjust the masternode rate.
*/
function setStakingRequirement(uint256 _amountOfTokens)
onlyAdministrator()
public
{
stakingRequirement = _amountOfTokens;
}
/**
* Function #4: If we want to rebrand, we can.
*/
function setName(string _name)
onlyAdministrator()
public
{
name = _name;
}
/**
* Function #5: If we want to rebrand, we can.
*/
function setSymbol(string _symbol)
onlyAdministrator()
public
{
symbol = _symbol;
}
So, then the solution was live, but to exit from the developer mode and enter “open to the public” mode into we needed administrator function #1, to allow the investments by general investor.
Unfortunately, we removed this function with a notion to limit the admin as much as possible, this caused the contract to lock, something we were of course unaware of at testing phase as we had removed all “ambassadors” (Devs extra pre-mine) and did not have any therefore the execution was not possible.
So essentially, we made a stuff up in the code upon actual deployment, in an effort to be further transparent and to prove that we cannot alter a thing. So, because that contract was created and once deployed is immutable, (this proves that theory if anyone was wondering) we have had to create another contract. One which we have again tested and this time, it is deployed exactly as we tested it.
We feel that this in itself is another case of transparency that we ourselves do not have the power to revert it and the fact that we are willing to put our hand up and admit we made an error.
Thus, we have made further changes now, still not giving powers to admin or to reserve those for us and are live with a new contract which is 100% Transparent and deals everyone equally. We encourage anyone with ERC20 contract knowledge to thoroughly scrutinize this contract in detail.
We still have only the 3 ETH dev buy in and if you are unsure we suggest that you dip your toes in and make a small investment and you will see that everything is functioning fine, including deposits, withdrawals, Masternode, reinvestments and daily dividends.
We could have easily just shut this down and came back with a new name and a new website and contract but we would rather show potential investors that A. We are not greedy and have kept the 3 ETH Dev buy-in and B. That we are only human and can make mistakes like we did here, we think that will endear us more with those who were considering investing than if we just packed our bags and re-branded.
We have added our new contract address which is
https://etherscan.io/address/0xdb4837C9d84315ABCDE80A865f15178F86DB3966 and the new ticker is LCK
We have updated our ANN thread and Whitepaper to reflect this.
And we had originally wanted to give 24 hours’ notice to all that we are going live but given the issue we had with the original contract we have now decided to test the contract first and the interface to ensure that ALL functions are working and we can proudly say that EVERYTHING is operational and working as it should be.
You will notice there are not large Dev purchases, only a small one to activate the contract so you are reading about this first here now. We hope you understand our decision to do it this way, it was more important to go live with a working interface than anything else and we have now done that.
On a final note, we want to thank you for your patience and anyone who decides to invest we wish you many happy returns!
