EDSer's, we have a problem that you need to be aware of. As many of you are aware, rewards for @eds-vote go out on Mondays and if you have seen your wallet already, you will have seen your EDS rewards this week are massive. Sadly it is not a Christmas bonus as I have made a fatal error.
While inputting the amount of EDS to mint for EDS-vote rewards, I forgot to add the decimal and minted 100x more tokens than I should have. So instead of minting 296.15 EDS, I minted 29,615 EDS and all have been shipped to those delegating HP to @eds-vote. Im normally very careful when doing this, but I messed up today.
Thanks to @dkid14 for letting me know in the Discord server.
I'd advise to stop all EDS trading. No selling and buying please until this issue is sorted. It might result in you losing your investment
DONT PANIC Just Yet!
I'll not sugarcoat this, but I can tell you that increasing the EDS circulating supply by almost 50% overnight is not good. The EDS APY has tanked to 14-15%, and anyone who holds EDS that is not delegating to eds-vote has just been liquidated. Im not trying to make you panic, just letting you know what has just happened.
There is no need to panic because EDS is just a token. The thing that gives EDS value is it's backed by the @eddie-earner HP balance and it's all still there. Even if I minted 296k EDS by mistake, we'd still have the same assets and as long as we can reset token allocations, we have no game over situation and the problem can be fixed.
After seeing the message from dkid14 and confirming my mistake, I checked and saw no EDS buy/sale orders done on hive-engine so nobody was trying to dump and cash out what would appear to be a massive over-payment. I then...
- Took a snapshot of all incoming HP delegations to @eds-vote
- Took a snapshot of the EDS token holder list
- Downloaded all the transactions from @eds-vote this evening
With this information above, I will be able to work out everyone's EDS holdings back to before the overpayment went out earlier this evening. Luckily, there is no EDS payment required for another 6 days so there is time to fix the problem before that date comes.
What's Next?
I have only found out about this 45 minutes ago and would like to sleep on it before I can give a certain answer but right now, the best course of action would be to reset the EDS balance back to what it was before this overpayment went out.
In my eyes, the current EDS token is cooked
90% sure that the best course of action would be to create and airdrop a new replacement token for EDS. It's the only way to fix this problem and restore everyone's balance to what it should be and requires 0 input from token holders.
Will update Tomorrow
It's 5.45 am here in the UK and I need to go to bed. I am glad that I was able to collect all that information soon after the overpayment went out. Right now, it looks like creating a new token to replace the current EDS and airdrop it for everyone. This would make the current EDS token worthless in a few days. Once again, sorry about this and I will make sure to fix the problem and keep you guys up to date.
The most important thing is, nobody has lost or gained anything
I'd advise to stop all EDS trading. No selling and buying please until this issue is sorted. It might result in you not being airdropped.
oh here is another idea:
before creating a new token, can't we turn this challenge into an opportunity and as community voluntarily wire the funds back one by one?
it would speak volumes to the integrity of this community and those who refuse would make themselves and their bad intentions plainly visible to all.
we could send back all overtransferred funds to reach exactly the same state we had before this occurred, only: by free volition of all involved.
or am i being naive here?
Some lovely ideas, but we have bots and people who are taking a break from Hive so it would be difficult to implement.
It will all work out, we'll have more news soon.
@topcomment
Yes this is naive (but super interesting idea!)
The result will likely include a third category: those not paying attention (or incapable of doing so, like bots).
Your comment is upvoted by @topcomment
You can support the Topcomment initiative by delegating HP
| 50 HP | 100 HP | 250 HP | 500 HP | 1000 HP | 1500 HP | 2000 HP |
Thank you for your openness!
Mistakes happen and that's a good thing. What's more important is how we deal with them.
If you want us to do something, just get in touch and we'll fix it together!
!BBH
Thank you for your support @arc-echo.
We'll have more news soon.
@topcomment
Mistakes do happen, frankly i saw that i recieved EDS, but for some reason did not notice the big amount. I only came to know after reading this post.
The main reason to delegate is to colllect EDS token, i have no intentions to sell it.
I can send you the EDS amount back, if that helps.
I have seen a few sales with bigger EDS amounts on hive-engine, lets hope its not part of the rewards sent on monday?
!PIZZA
Hi @imfarhad, thank you for your support.
Please hold all your tokens and do nothing until @ssuk has decided the best course of action.
There were some transactions on Hive-Engine, @ssuk has a record of all of those and will reset everything back to where it was.
Token holders do not need to do anything at this stage.
@topcomment
Your comment is upvoted by @topcomment
You can support the Topcomment initiative by delegating HP
| 50 HP | 100 HP | 250 HP | 500 HP | 1000 HP | 1500 HP | 2000 HP |
I thought it was a Christmas gift, I'm glad I didn't sell it... mistakes happen... hopefully, you get it fixed soon and let those who received it know if we should send it back
Thank you for your support @burlarj.
We'll have more news soon, just do nothing for now.
@topcomment
No problem man! Accidents happen, all the time, and to err is only human!
I did think it was a nice Christmas gift though ;-)
Let us know how you want to fix it, and we’ll go along! Refund if needed, no problem!
!DIY
!BBH
!INDEED
!HOPE
!WEIRD
!PIZZA
Thanks man, yeah made a boob but there should be action required from you. Thanks again
Thank you for your support 😍
@topcomment
You’re very welcome ;-)
!BBH
!INDEED
!HOPE
(31/100)
@shanibeer! @borniet Totally agrees with your content! so I just sent 1 IDD to your account on behalf of @borniet.
(30/100)
@shanibeer! @borniet Wants to spread Hope! so I just sent 1 HOP to your account on behalf of @borniet.
Since we think the world can use more Hope, you can now already start spreading Hope yourself!
I really thought this is some Christmas bonus :)
No worries, we are with you @eddie-earner, please take time and sort this out as required and ready to send back the tokens if required.
Take care sir.
Thank you for your support, fingers crossed it can be sorted out within 24-48 hours.
We trust you boss, no matter some tokens might be sold by few already on HE, we will hold our tokens and await your confirmation.
!BBH
@eddie-earner! @coolguy123 likes your content! so I just sent 1 BBH to your account on behalf of @coolguy123. (4/5)
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Thank you for your support 😍
@topcomment
Anytime for the community :)
I see many have sold the tokens at even 0.1 per EDS, oh, few of them cashed in all the EDS already.
Hope it doesn't affect the Ones we are holding.
It will be fine. The tokens are backed by HP in the @eddie-earner wallet.
It may take a day or two to sort things out, but everything will be fine.
!BBH
@shanibeer! @coolguy123 likes your content! so I just sent 1 BBH to your account on behalf of @coolguy123. (3/5)
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I thought same myself.
Yeah, but let's hope the token will not be devalued due to this.
!BBH
It’s already crushed. Look at market. It’s 25% of a Hive on current market. They will have to reset with an airdrop and old token will be thrown away.
Yeah, something has to be done and I am sure Edie and all have plans in place for that. Let's hope for the best.
Just seeing some blaming people who sold long before the crash and before announcement and that’s not cool either. A bunch of people thought it was legit bonus. Why would they think otherwise. If someone leaves a buy order on a market place that’s respectfully on them/ blaming the seller when it was before any sign of crash is ridiculous.
Yeah, can't stop people or blame them as some of them tried to cash in the bonus coins.
@geneeverett! @coolguy123 likes your content! so I just sent 1 BBH to your account on behalf of @coolguy123. (2/5)
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Oh, I did not realize it and moved it to my main. I saw it 2. something as usual.Move it back. Just tell us if we need to send it back and how much. :)
I am sure we can send it back if there are not too many. But then, I do not know.
If you've sent it back to your main account that should be fine.
Thank you for your support 😍
@topcomment
That STOP icon change in hive engine got my attention lol. Good to see this post detailing what happened and I look forward to the next steps. This has been a great project run by a good person and I'm eager to see if this little mistake can be corrected some how and even turned into a positive force for the community.
Thank you for your support.
I was really surprised seeing the STOP icon at EDS. But you've answered the issue pretty fast. No worries eddie, just as you said the thing that backs the token is the HP of the account, ans also the community who believes in the project too :)
Thank you for your support, @rimurutempest 😍
Things will be sorted out soon.
@topcomment
Everything will be solved soon :)
These mistakes happen - hopefully you'll find a mathematically accurate solution (and reward those who hold on to EDS more than those who sold!).
And I was just about to delegate another few thousand additional HP over to eds-vote this coming Thursday (I have a pending undelegation). It'll be a timely bump as you guys create a new solution haha.
And some! Thank you for your support, it will get sorted out, it may take a day or two to work through all the transactions.
I came to either alert y'all that my rewards were x100 or find the news if you already knew. Will be happy to send back if that helps, or burn, or increase delegation. Just let us know!
!BEER
Thank you for your support, @ssuk is working out the next step 😍
Thanks for letting us know, including that the best course of action for the time being from our part is to... do nothing!
👍
Let us know what are the next steps and if we have to do something.
Thank you for your support.
Thanks for the transparency!
Errors happen sometimes and hope this will be sorted out without any prob... About selling... That's not my thing... Just holding mine.
If you can tell how much extra I've got... I'll return it to the account and I guess most of community will also be willing to do that.
Thank you for your support, @ssuk is working out the next step.
Only he who does nothing who does not make mistakes... So we are patient and above all we know why, so thank you for the information!!!
Thank you for your support - and so true!
Oh. Thank God I got feed on by my friend when I'd told her about the 'assumed' Christmas gift, hehehe 😅😅 I just had to keep it there thinking the value would shoot up later in the future, not knowing it wasn't mine to enjoy but something done out of an error. Lol
Alright, I shall be waiting for your next information to know what we are to do.
Thank you for your support.
Yeah, I noticed the way-above-normal amount of EDS sent to me yesterday, and after looking at @eddie-earner's transaction history, I knew that it was a rather large error. Seeing the stop sign icon on EDS was a dead giveaway too. I truly hope that this can all be rectified soon. Also, just so you are aware, the owner of the @ericburgoyne account passed away almost a year ago, so it's completely on auto-pilot. 😁 🙏 💚 ✨ 🤙
Thank you @tydynrain, it should be sorted very soon.
We did know about eric, thank you.
No worries. I didn't notice until I read this just now. I'm in holding mode until told otherwise. :)
Thank you for your support.
Appreciate the transparency and immediate action!
I'm sure it'll all get worked out... and that STOP icon definitely got my attention. As with all things, I'm sure there are a few "profiteers" in the field, so perhaps an airdrop of a new token in the amount of your snapshot... perhaps in exchange for either burning or returning the "old" EDS tokens might be a most prudent approach.
But I trust in you and the whole team and feel confident that everyone will be made whole in the end!
=^..^=
Thank you and thank you for your ideas.
What is this going to do to the Miners if you just drop EDS and re-issue a new token? You're going to have to re-issue those as well, right? Or can you just reconfigure them to mine the new token?
@ssuk is working on it and will come back to everyone as soon as there is news.
Thank you for your support.
When I noticed the large amount of EDS in my wallet, I also thought it was a bonus to the delegators. Was busy offline, so hadn't had a chance to think further on it until now.
Thanks for the notice and explanation. I wish it were as easy as what happened with Neoxian in which Hivers just returned the tokens. Unfortunately, I didn't think twice and staked the hundreds of thousands of Neoxian, then went through the 13-week unstaking period and return as the owner requested because of my hasty action.
Learned my lesson, so will wait on further instructions.
Take care.
Thank you for your support.
Accidents happen, we're all prone to them and we mustn't let ourselves down. The EDS project is one of the best we have when it comes to acquiring assets and earning dividends for the week, your credibility won't be affected by this!
I'm sure everything will soon be sorted out! You have our support!
Thank you.
Greetings my friend. We are sorry for everything that happened, however, it is good to know that this problem will be solved soon. In my case I am finding out from the publication, and if I received EDS it was almost unnoticeable because what I own is little, still we are willing to return whatever we received.
Yes, I received much more than usual
Have peace, everything will be fine!
Thank you for your support.
(20/100)
@eddie-earner! @borniet Wants to spread Hope! so I just sent 1 HOP to your account on behalf of @borniet.
Since we think the world can use more Hope, you can now already start spreading Hope yourself!
@eddie-earner! @borniet likes your content! so I just sent 1 BBH to your account on behalf of @borniet. (18/20)
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(21/100)
@eddie-earner! @borniet Totally agrees with your content! so I just sent 1 IDD to your account on behalf of @borniet.
You can query your personal balance by
!DIYSTATSahh alright then, lol.
please don't punish me for having those buy orders open longterm that finally triggered over night.
best wishes!
Don't worry, it will all be sorted out 😍
@eddie-earner! @arc-echo likes your content! so I just sent 1 BBH to your account on behalf of @arc-echo. (2/5)
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$PIZZA slices delivered:
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You got this! Was confused at first as it's not even April yet hehe
But I have zero doubt you'll take care of the situation, we all knew this was going to happen sooner or later 😜
Best get it out of the way before 2025
👍🏼👍🏼
If we get a replacement token, I vote for calling it "New EDS", or NEDS for short 😁
Mistakes happen, it's proof we're human. Don't beat yourself up over it, as long as it's sorted out in the end it's fine. Don't rush fixing it, better to chill out, do it at a relaxed pace, and give yourself the chance to think through any complications before touching the keyboard 😀
!PIZZA
Thank you for the transparency and honesty -- a breath of fresh air on Hive!