Summary of this week

It’s been a tough week, here’s a summary of what has happened and what will happen next.

A couple of our programmers from Prince Labs were also giving development help to the Blizzard team. After looking into the issue, we found that those devs were also involved with their exploit. These devs had full control of AutoMatic technically so we recommended everyone to break their LP tokens. We had already pulled the liquidity from our side before they tried to drain it too like Blizzard. We have their identities and we’ll be reaching out to the authorities. We advised people to break their LP and wait for further updates in the meantime.

After this, we were in the process of retrieving ownerships of all the pools, but we still had to make sure that we got everything from the rogue dev and that the code was safe. So we double checked everything to make sure it was safe to move forward with.

After some days of hard work, we came to the conclusion that AutoMatic is SAFU and cleared, no possibility to get exploited, and ownership of all relevant contracts belongs to the Lightning founder for now. He went through all of them to find any potential vulnerabilities/loopholes. He actually found a few potential hidden loopholes. However, all of them are defused now and there’s no way that AutoMatic can be exploited the same way Blizzard was. Rewards should be active as well for all Vaults. The automatically compounding Vault only updates the current rewards once per day though. We’re going to offer 1200% AUMI APR + QUICK on the new LP pool for 7 days at least and 400% permanent AUMI APR on the SAS Vault.

We hope that all of you understand that we had to do this to ensure that everyone’s funds are safe. Obviously there’s still always some risk with anything in DeFi, but what happened to Blizzard can not happen to AutoMatic. You can pair your LP again and deposit it back into the Vaults.