Future Plan

Contents

  • About the Exploit
  • Plan Objectives
  • Plan for AlaskaInu Operations — Alaska NFT, Alaska Pool
  • Plan for New Tokens, Diamond Alaskan Malamute (dLASM)
  • Plan for New MasterChef contracts,migrate an existing Pool
  • Compensation Pool for pLASM
  • Team Contribution
  • Recovered Funds Contribution
  • Compensation Process
  • pLASM Swap
  • Plan to Buy Back and Burn

Summary

  • The hacker stole all the LASM and Fairlife tokens in the pool from this attack, and the token price was about $150k
  • At present, the Withdrawal/Deposit of yieldfarm pool will be suspended until we issue a new MasterChef contract,avoid another attack.
  • In the next time, we will deploy new MasterChef contracts to facilitate the migration of existing old MasterChef contracts to new MasterChef contracts. After the migration, the Pool will resume normal operation.
  • We will compensate the original holders by issuing a new token pLASM and by creating a Compensation Pool
  • The Compensation Pool will be funded by a direct contribution from the Team, any funds recovered from the exploit
  • The price down will be mitigated by our aggressive buy back and burn program

Alaska Army

After this attack, we found our own shortcomings, we will become stronger, all difficulties will be eliminated by us.

Stay tuned for further communications, and as always, Alaska Army, Keep Calm and Hop On!

Plan update

Plan for New Tokens, pLASM

we are issuing a new token to construct a mechanism to compensate the Original LASM Holders for lost token. The new token, Diamond Alaskan Malamute or pLASM, will be distributed by airdrop or similar method to all of the Original LASM Holders, including holders of LASM-BNB LP tokens.

Compensation Pool for pLASM

We will then create a new Compensation Pool that will begin accumulating compensation rewards from four sources to be enumerated further below. All pLASM holders will be able to claim their compensation rewards from the Compensation Pool on a frequent, possibly even daily, basis.

Yield farm Fee Contribution(T1)

The first source of contributions to the Compensation Pool is the Yield farm deposit fee.Beginning for the next few month, the Alaskafinance deposit fee of 100% of yields farm will begin to accumulate in the new Compensation Pool (T1).If Alaskafinance TVL averages between $1–2b over the next 3–6 months, pLASM holders can expect to receive a total of $4M in deposit fees through the Compensation Pool

Alaska Team Contribution (T2)

The Alaska team will contribute the second source of compensation rewards to the Compensation Pool. Normally, LASM is minted to Alaska Team at a rate of 1 LASM for every 10 LASM that is minted to the community.

Beginning next few days, however, Alaska Team will send all of the LASM it receives from the protocol to the Compensation Pool (T2).

NFT Marketplace Contribution(T3)

Fees recovered from the NFT market are the third contribution of the compensation pool. All the fees collected from the NFT market will be put into the compensation pool, including the NFT Mystery Box to be launched.

Alaska Prediction Fee Contribution(T4)

The fourth contribution of the compensation pool comes from the Alaska Prediction. After the mysterious box is launched, we will launch the Alaska prediction.Alaska Prediction is a fun and simple decentralized prediction market,Predict whether all tokens price will rise or fall.

Compensation Process

To recap, Alaskainu Team is taking a snapshot right before the exploit. pLASM will be distributed to everyone who held LASM at the moment of the exploit. pLASM holders will claim compensation from a Compensation Pool that,for the next few month, accumulates contributions from LASM earned by the Team, all costs recovered from the Yield farm / NFT Market.

pLASM / LASM Swap

The final component is a swap of pLASM for regular LASMat the end of the few month period.More specific exchange calculation formula will be updated in the near future

Plan to Buy Back & Burn

In order to control the amount of LASM in circulation, Alaska Team will implement aggressive measures to buy back and burn circulating LASM, including all fees, and, if necessary, burning all LASM emitted to the Team for an optimal amount of time.

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Alaska Inu is a 100% decentralized community experiment. You can get free $LAS for every transaction

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Alaska Inu

Alaska Inu

Alaska Inu is a 100% decentralized community experiment. You can get free $LAS for every transaction

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