GovWorld Official Announcements

GovWorld | News Update July 5th, 2024

🚀 GovWorld is working hard behind the scenes to ensure a safe and successful DApp for our community and our strategic partners. Here are the highlights from the past 2 weeks:


🛡
Solid Proof: Solid Proof: We have successfully completed the second independent smart contract security audit. There are only a few minor issues that our Lead Solidity Developer, Waqas Wahid, is handling now. We are very pleased with the results! Here are the highlights:

✅
Main Green Lights:

Minting tokens. Minting tokens refer to the process of creating new tokens in a cryptocurrency or blockchain network. This process is typically performed by the project's owner or designated authority, who has the ability to add new tokens to the network's total supply. The owner is not able to mint new tokens once the contract is deployed.

Blacklist addresses. Blacklisting addresses in smart contracts is the process of adding a certain address to a blacklist, effectively preventing them from accessing or participating in certain functionalities or transactions within the contract. This can be useful in preventing fraudulent or malicious activities, such as hacking attempts or money laundering. The owner cannot blacklist wallets from transferring of tokens.

✅
Issues being addressed:

Pausability. The contract contains the pausable functionality in which the owner can lock functions for an indefinite period of time.

GovWorld Response: We will implement the use of a standard timelock used in most DeFi/CeFi applications with at least with a latency of e.g. 48-72 hours for awareness of privileged operations. The purpose of pausability is in cases of abnormal user behavior by bad actors.

Fees and Taxes. The contract contains the threshold and platform fees that can be adjusted up to 25% which is not recommended there must be a check where the fees in the contract should not be more than 25%.

GovWorld Response: This was set initially for testing purposes only. GovWorld will implement a cap of maximum fees no more than 5%. Currently our Platform Fee for borrowers is 1%, and AutoSell Fee for Lenders is set at 0.75%.

Upgradeability and Ownership. The contract contains the upgradable functionality in which the owner or deployer can deploy the new version of the contract. The owner has not renounced the ownership that means that the owner retains control over the contract’s operations.

GovWorld Response: GovWorld has a Bug Bounty program for the first 6 months after public launch. If nothing is found they intend to have a community vote to make contracts non-upgradeable and renounce ownership.

🖥 Waqas Wahid has let us know these main and other minor issues should be fixed this upcoming week.


We look forward journeying with our community and Strategic Partners after GoLive! Thank you for your patience🙏 More updates coming this week!


🎩 Stay up to date with the latest from GovWorld

Website | Twitter | Docs | Audit | TG Ann | TG Chat

GovWorld | News Update

🚀 GovWorld is working hard behind the scenes to ensure a safe and successful DApp for our community and our strategic partners. Here are the highlights from this past week and plans for this week:


🛡
Solid Proof: Completing a second independent solidity smart contract security audit to be completed by upcoming Wednesday
🪙
OyeLabs: Upgrading multi-Web3 wallet support for Metamask and Trustwallet with ownership signatures and user mapping this week
🖥
EzOps Cloud: Upgraded DevOps infrastructure and Node library completed ✔️


We look forward journeying with our community and Strategic Partners after GoLive! Thank you for your patience🙏 More updates coming this week!


🎩 Stay up to date with the latest from GovWorld

Website | Twitter | Docs | Audit | TG Ann | TG Chat

GovWorld | Unlock your potential

GovWorld boosts project value and community benefits by adding significant utility to your tokens and NFTs through our decentralized Loan Marketplace, your crypto assets can be used as collateral for peer stablecoin loans. Attract more users and foster a thriving symbiotic relationship between your project and your community with GovWorld.

🌎 $GOV UTILITY

🌎 PARTNER SERVICES

Token l NFT
Listing Approval on Loan Marketplace
Community Access to Loan Builder l APY Arena
Retain Community Benefits when Loans are Active
Liquidity Locking Tool with UNCX

Community
Anti Rug Alliance Amplification
Community AMA
Ongoing Token NFT Marketing

Advisory
Advisory & Consultancy
Incubation Services

Referral Program
Strategic Partner Types

🚀 Launchpad l VC

💪 Projects

🛡 Service Providers


🎩 Stay up to date with the latest from GovWorld

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Attention Community: We are temporarily pulling V2 liquidity to lock V3 with UNCX. Please refrane from trading as LP V3 is low MC.

$GOVernors✨ It's time! Bronze and Silver group now OPEN! Please join the Governance Council to help steer the ship !🌛🚀🦾

NOTE: You need between 15,000 - 74,999 $GOV to access the private Bronze and Silver Council. Join link is below:

https://telegram.me/collablandbot?start=VFBDI1RFTCNDT01NIy0xMDAyMDQzOTU2MDcy

🎩 Stay up to date with the latest from GovWorld

#fintech #futureoflaunchpads #stablecoinloans #crypto #blockchain #governance #innovation

Website | Twitter | TG Ann | TG Chat

GovWorld Official Announcements pinned «https://x.com/govworld1/status/1753856436809953704?s=20»

https://x.com/govworld1/status/1753856436809953704?s=20

$GOVernors ✨ It's time! Gold and Platinum level please join the Governance Council to help steer the ship !🌛🚀🦾

https://telegram.me/collablandbot?start=VFBDI1RFTCNDT01NIy0xMDAxNjE3MDM3NDc5

And please, stay safe out there $GOVernors ❤️

#Fintech #StablecoinLoans #HighAPY #USD #ReduceSellPressure #ProtectPriceFloor #Launchpad

🎩 Stay up to date with the latest from GovWorld
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🔥 Attention Governors:

Follow this link for the 150% HIGH APY staking pool! Remember it's only open to enter for 14 days so get ur $GOV staked early!

https://stake.unifyre.io/govworldbsc/info/0x1aca3a1a20126dc877396999235f2be59b2346fe/BSC

🎩 Stay up to date with the latest from GovWorld

Website (https://www.govworld.io/) |
Twitter (https://twitter.com/govworld1) |
TG Ann (https://t.me/
GovWorld_Announcements) |
TG Chat (https://t.me/GovWorld_Community)

🔥 Attention Governors:

We are grateful for your patience during the final stages of the new Hacken Audit! We want to reward your patience, stay tuned to the ANN channel for links on Friday!

🎩 Stay up to date with the latest from GovWorld
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FRIDAY 1/23/2023

GovWorld "Governors" we will be starting the staking pool for $GOV holders next week, please stay tuned to the announcement channel. This staking pool will last for the time period of the new audit by Hacken which we will announce latest news regarding that as well. The staking pool will be 1st come 1st serve and details of the Pool will be announced early next week, please stay tuned. Thank you all for your support 🙏

PROJECT PLAN:
Here are a few things we have in the works while the audit finishes and leading up to launch which will help grow our community of "Governors":

1. "Dapp Demonstration" videos on YouTube.
These videos will show all of the features of the dapp “live” on testnet to highlight how it works and why it’s unique.

2. Special staking pool for $GOV holders leading up to mainnet launch.
Details to be announced in beginning of Jan 2023.

3. Community Vote on $GOV Tier Levels.
Community will vote on whether to add new tier levels or increase amount of $GOV needed per tier level.

4. Bring on "Professionals" for social media, grass-roots marketing who will be incentivized to grow our market cap.
We are already in discussions with several groups, who have been recommended by our advisors, who do this at a very high level.

5. New L1/L2 looking website already in the works.
It looks clean folks 😊! Also, this could potentially be a “rebrand opportunity” as well for us but only if our community wants it. Our supporters have some cool ideas already such as “DeFiBay”, “FutureLend”, etc.. but again this will be voted on by our community after the special staking pools for $GOV begin in January.

Thank you again "Governors" for your patience and support, together we will make this project a success... truly nothing like it in the crypto space!

3. A "credit" synthetic token built into the code.
This is perfect for launchpads, VCs, and crypto projects to give their communities "credit" for tier level benefits and other native rewards. This will allow these communities to maintain tier level benefits and other rewards while community is borrowing cash against their respective native tokens and NFTs. We do this by minting a "credit synthetic token" back into the wallet of borrowers when their loan gets funded. This will help reduce sell pressure and drive a steady stream of strategic partners for GovWorld.


4. A "monetized" synthetic token built into the code.
This is for locked native tokens on claimboards AND staking pools. This would be for strategic partners who work with GovWorld. We "peg the price" of the monetized synthetic token to the "actual live trading price" of the real native token. This means the "monetized" synthetic token has a $USD value on the GovWorld platform and can be used as collateral for stablecoin loans. The $USD value of the monetized synthetic token will fluctuate in real time with the actual $USD trading price of the native token. This is an excellent undervalued collateral for lenders because whoever holds the "monetized synthetic token" has claim rights to the real native token as it unlocks from claimboards or as it unstakes from yield farming/staking pools (for staking pools the lender would also get all of the extra APY% tokens too earned in yield farming too). Here is a "Peg Price" example: Real token trades at $1.00 per token and the project wants to "peg" the price at 50% then the $USD value of the "monetized" synthetic token on the GovWorld platform is 0.50 cents per token. Again if the loan gets liquidated the lender would get claim rights to the actual tokens at a 50% discount plus any extra APY% earned in yield farming.


5. A "grassroots marketing" campaign built into the code for hot NFT colletctions.
We can turn any popular NFT collection on OpenSea into a GovWorld "tier level NFT". This helps drive interest and traffic to our dapp becuase those NFT holders can automatically begin make loan offers of up to 70% loan to value for free. This is meant to drive interest and hype NOT grow the value of $GOV - we have other ways to do that. (Example: BAYC NFT is worth $100,000 x 70% LTV = Max Loan of $70,000 USD stablecoins. So a BAYC member will just have to have their BAYC NFT in their wallet and they qualify to make loan offers to lenders on our platform for free.)


6. A "Platinum Presale" group for Platinum Tier $GOV holders.
These allocations will be shared between Platinum Tier $GOV holders. Why would projects want to give us an allocation? 1. We will be strong holders by incentivising our Platinum members to hold 2. Their project may purchase our claimboard that we have already coded and built which can generate the "monetized synthetic tokens" for every round of presale participants (Angel, Seed, Strategic, Team, Advisor) thus offering their community the opportunity from day one to borrow $USD against the value of ALL of their crypto assets (native tokens, NFTs, and locked tokens).


7. A "configurable" GovWorld tier structure built into the code.
This means we can ADD NEW tier levels and associate new LTV%s such as 10% LTV, 20% LTV etc. OR we can increase the amount of $GOV tokens needed per tier level which would drive up the demand for $GOV tokens. We would be very cautious about making the tier level aquisition too high, but this again is something the community can decide on together. Current tier structure is as follows: Bronze 30% LTV = 15,000 $GOV (approx $40 USD), Silver 40% LTV = 30,000 $GOV (approx $80 USD), Gold 50% LTV = 75,000 (approx $200), Platinum 70% LTV = 150,000 (approx $400).

FRIDAY 12/27/2022

GovWorld community here is the latest update from Hacken with a synopsis of our utilities that are built into the code, and a brief plan for the project moving forward.

First, as CEO I want to make a statement to our supporters: Although we have had many challenges and delays, we are 100% committed to see this project through to launch and together we will move forward to grow this project's footprint in the space. There are many use-cases for the GovWorld DAPP and also many secondary use cases that can be utilized by holders of $GOV. From the very beginning our goal has always been to build this into a proper DAO where our community votes and guides all important decisions. And that vision has not changed.

Due to the timing Hacken has given us, and due to the feedback from our community, we will be providing a high APY% $GOV staking pool that will last for the entire time-frame that it takes Hacken to complete audit and for us to launch on mainnet. This is for our true supporters, the 'Governors'. Details will be announced in first half of Jan 2023! Thank you for your patience and support.

Having said all of this here is the update.

HACKEN AUDIT UPDATE:
I will begin by stating that we support Hacken's audit team and believe they are experienced and competent at what they do. They are also highly in demand, so this has unfortunately caused delays for GovWorld. They have been very transparent and honest with us by suggesting we start the audit from scratch using their new methodology (which is a series of 3 audits - two independent teams doing separate audits at the same time then their findings being presented to a final "head audit team" for the final synthesis audit. And, because of the size of our codebase, the nature of our project, and the importance of security we accepted this suggestion.

According to Kostiantyn Harniuk, Head of Client Relations at Hacken...

“GovWorld is the largest solidity codebase of any project Hacken has EVER audited"

By comparison, please see complete list of all projects Hacken has audited here https://hacken.io/audits/.

This is something we are very proud of because we know our functionality is unique and what the GovWorld developers have built into the code (see Project Synopsis section below) has high use-case value. As our advisor, Ian Friend of Ferrum Network has said about our project…

"You have a built in use-case for a steady stream of new strategic partnerships with up and coming projects, old projects, launchpads and VCs alike".

We agree, we see it the same way!

One thing we have learned however at this point, is to NOT to put an exact date on launch to mainnet, so we won’t however, you can see Hacken has given their timeframe below to complete this "3 audit" methodology. Then our development team will integrate it for mainnet.


IMPORTANT: Again, for ALL $GOV supporters please pay attention to our ANN channel for the staking pool to start in Jan 2023, in just a few weeks, because it will fill up fast and it is first come first serve!


PROJECT SYNOPSIS:
We want to again lay out the separate utilities of the GovWorld DAPP to give our community a better detailed understanding of the what the code does and what makes our DAPP have "strong use-case" value to projects and crypto enthusiasts alike.

So...What is the GovWorld DAPP?

1. A defi "EBay" for borrowers.
This can be for both Strategic Partners of GovWorld AND non-strategic partner projects alike! All we have to do is approve the collateral, which can be NFTs, DEX altcoins, and locked altcoins on claimboards and yield farming staking pools (see "monetized" synthetic token below).


2. A HIGH APY% stablecoin yield generator.
APY% is paid out in stablecoins to lenders who can peruse the loan marketplace to find the best offers, the lenders can also see the performance of all underlying crypto assets and choose the best risk to reward loan offers. We expect to see 50%, 100%, maybe even 200%+ APYs on short term loans!

WEDNESDAY 11/30/2022

Hello Community,

I want to let you know we are COMMITTED to launching this project. I understand your frustrations because I am just as frustrated as you are. I have the receipts to prove it but I do not want to dox anyone so I will not do it here, but KNOW THIS... as soon as I have a confirmed update from Hacken as to when the audit will be complete I will drop it here.


Here are the plans we have had for a LONG TIME while waiting for the dapp to be finished, audited, and launched on mainnet...

1. We will run a high APY% LP staking pool for all GOV holders in which we will offer a lifetime NFT for all of the different tier levels for those who will burn their associated GOV for their different tier level thus reducing total supply. This means all you will have to do is hold the NFT in your wallet and you will have that Tier Level. We won't sell these NFTs ever so they will only be gotten by those people who buy and burn GOV. So you will have an NFT of value which YOU could sell if you wanted to as the value of that tier level increases due to the market cap of GOV going up because we will also have other incentives to HOLD the GOV token itself. So it is a TWOFOLD attack to increase the value 1. Buy and BURN 2. Buy and HOLD. Here is the Lifetime NFT Collection on OpenSea...

https://opensea.io/GovWorld


2. We will target niche NFT groups such as BAYC and Punks to offer them the chance to turn their NFTs into a GOVWORLD Tier Level (for example we will take the contract number of the Official BAYC NFT collection and 'auto approve' it for a specific Tier Level such as Silver 40% LTV or Platinum 70% LTV, etc). This was always a part of our marketing plan so that we could get word of mouth grassroots support (this is also why the audit MUST be perfect or at least VERY SECURE) so this is mainly for publicity. How this helps our community is that for every Loan Offer using these BAYC NFTs as collateral on the platform that GETS FUNDED by a stablecoin lender we will burn an amount of GOV associated (by a percentage fraction) of the total stablecoin loaned. This will also reduce the total supply.


3. All of you from Launchpads who are altcoin and NFT holders, you will be able to maintain your tier level with your launchpad (providing your launchpad works with us) while borrowing stablecoins against your governance token of the launchpad. This will be beneficial during the next bullrun as you saw your portfolio value go up holding those governance tokens in the last bull run. Now you will be able to capitalize on the $USD value of your governance token where as before you couldn't. This also goes to the importance of the audit being good.

4. Liquidity; some of you have concerns about the locked liquidity. No need to have a concern. The liquidity (although small on both chains) is remaining where it is PERIOD. And hopefully INCREASING due to our LP staking pools discussed in point #1. We are going to relock the liquidity on BNB as we know it has expired.


5. Lastly, we are also interviewing people to assist us in growing the project to be a part of the team and help guide us. As you know our token is at an all time low so there are multiples to be made with you guys who stick with us. We have built a huge codebase of EVM compatible code to accomplish this goal of putting the power in the hands of Altcoin and NFT holders who want to utilize the value of their crypto holdings to gain more opportunities while offering GREAT APYs in a safe environment to stablecoin lenders. If you are interested in helping guide us and you have skills please email me at [email protected] and we can talk. As you can tell since the market downturn and with all of the delays we have experienced we could use good people to help us go to the next level.


Thank you for listening and for your GREAT patience. I appreciate you who aren't giving up on us and sticking by our side. We will not stop until we have successfully launched and marketed this unique project. Thanks,

Chris
CEO

TUESDAY 11/8/2022

GovWorld Community greetings.. Here is the latest update. We are still in the process of the final audit by Hacken because of the issues in the last report (see attached). As soon as we have concrete info back from Hacken we will announce it. In the meantime we are being introduced to EVM compatible chains to discuss grants and "partnerships" that will enhance what GovWorld is offering in the NFT and altcoin space. We are also interviewing to hire more team for this project's support. Thnks for your patience.

WEDNESDAY 9/28/2022 GOVWORLD COMMUNITY UPDATE:

GovWorld Community here is the long awaited update... Based on some of the code remediations we were doing with Hacken, they asked if they could do the audit from scratch with their new code review process which is state of the art. Their reasons were twofold 1) because the code would be even more secure and less susceptible to an attack and 2) because we are discussing some unique ways to partner with Hacken moving forward (more on that to come - it's awesome!!). Hacken believes our NFT and altcoin lending could be revolutionary in the marketplace for the benefit of the whole community including institutional investors. So, after discussing this with our advisors and team we have decided to go with their suggestion. This audit will have 2 full time auditors from Hacken and will take approximately 60 days. This obviously means that we will not be going live until this new audit is complete. Based on market conditions we also think the timing will be perfect for long term holders of $GOV. We will also be doing some very attractive high APY% LP staking pools once we are live so stay tuned. Thank you community for your patience 🙏

TUESDAY 9/13/2022 GOVWORLD COMMUNITY UPDATE:

GovWorld community we have some very exciting developments in the works with TOP partnerships that will enhance our ecosystem beyond anyone's expectations. We are in discussions with our advisors about this currently and will announce decisions soon. Thanks again for your patience and support 🙏

MONDAY 9/5/2022 GOVWORLD COMMUNITY UPDATE:

GovWorld Community, we are so close to launching I have personally seen the DAPP, it's fantastic and FAST! There is only 1 remediation in process now w Hacken that was submitted last week by our developers due to a small bug surrounding liquidations. Hacken said 5-7 days for remediation to be complete then we finish final testing on mainnet. It's coming soon 🙏 thnks for your patience.

This is from our Dev team as to what their focus is during the remediation:

Contract
1. Detail testing of the contract with its integration
2. Auditing of the contracts

Backend
1. Detailed testing of the APIs
2. Optimisation of APIS
3. Setting backend for main-net

Frontend
1. Optimisation of frontend
2. UI Improvements

MONDAY'S GOVWORLD COMMUNITY UPDATE:

As promised 🙏

Guys here the update from our developers on our amazing, one of a kind, DEFI DAPP, where you can collateralize any NFT and altcoin for stablecoin loans of USDT, USDC, and DAI:

Contract
1. Contract optimizations
2. Fixed Get Price method from Chainlink for both token and network market
3. Added 2 new functions in the price consumer contract to get the Chainlink price from DEXs
4. Fixed update function in the GOV protocol contract while updating token
5. nToken market loan limit feature has been added for the max number of collateral allowed

Backend
1. API optimization on backend to increase speed on the Dapp and reduce the web3 calls
2. Implementation of multi chain
3. Collateral amount fixes
4. API Call optimization from Loan Marketplace
5. Subscription call for collateral to just updated the collaterals not the whole market place from the backend
6. Liquidation time decrease
7. Cancelation issue fixed

Frontend
1. Loan Marketplace and Loan builder optimization
2. Improving the speed of the Dapp

KEEP YOUR EYES ON THE PRIZE $GOV HOLDERS! WE ARE A TRULY A LOWCAP GEM 🙌 ABOUT TO 💫🌛