Sloth Finance News

📣 Update: Sloth Bridge Now Live with CallistoDAO RPC

Dear Community,

We’re glad to announce that Sloth Bridge has been successfully updated with the new RPC provided by Callisto DAO. Everything is now functioning smoothly!

⚠️ Important: If you haven't done so yet, please make sure to update your wallet with the new RPC settings:

👉 https://rpc.callistodao.org

Thank you for your patience and continued support!

Sloth Finance Team 🦥

____
🌐 Repost
🌐 Upvote

📣 Important Update: CallistoDAO RPC

Dear Community,

The legacy Callisto RPC maintained by Buildablock has stopped functioning correctly. In response, we have updated Sloth Finance DEX with the RPC and Explorer provided by Callisto DAO, and Sloth Finance is now fully operational again.

Stay tuned, as Sloth Bridge will be updated in the coming days.

⚠️ Important: Please make sure to update your wallet with the new RPC settings:

👉 https://rpc.callistodao.org

Thank you for your continued support!

Sloth Finance Team 🦥

🌐 Repost
🌐 Upvote

✨ Migrating To Fushuma: A Step-by-Step Guide

You were looking for it, the community made it for you!

The tutorial for a smooth migration from Cloe and CLO to CE is now available!

Follow it carefully for a smooth transition, please follow this tutorial:

➡️ https://fushu.click/MigrationGuide

—————
Share this!

🌐 Repost
🌐 Upvote

SloFi Is Prepping To Evolve! 🦥

Dear SloFi family, we're thrilled to announce that Sloth Finance is preparing to evolve and will be deployed on the Fushuma chain! 🐲

To make this possible, we're leveraging 51 million $CLO from our treasury. These funds will cover the migration fees and secure $FUMA tokens, essential for the SloFi Distributed Insurance Fund. 🛡

This is a big step toward a safer and decentralized future. We're building Decentralization, together. ✊

——
🌐 Retweet
🌐 Upvote

The Evolution Begins 🌅

Starting today, Callisto is now Fushuma chain - the blockchain for the people. Ours is a Philosophy of True Decentralization.

As the Evolution begins, we want to share some things:

1️⃣ Fushuma is the Proof of Stake evolution of Callisto by Callisto Enterprise.

This is a break from the past and from previous members holding back our progress.

2️⃣ The Fushuma coin will launch soon under the symbol $FUMA.

$FUMA will have a set of 21 billion coins:
- 24% of $FUMA supply will go to Callisto Network holders.
- 6% will go to a Fushuma airdrop campaign we will detail soon.

CallistoSupport Twitter will now be FushumaChain.

3️⃣ Why the name Fushuma?

Fusuma (no H) are the rectangular, sliding panels common in Japanese architecture that can be moved to redefine spaces.

Fushuma is the same: We're redefining our space. We're sliding the doors open on a new day and a new opportunity in blockchain.

4️⃣ The rising sun in our new logo?

That one is obvious: A new day is dawning!

With that comes a new opportunity to create a truly decentralized blockchain that hews tightly to Satoshi Nakamoto's original vision as one built for the people.

5️⃣ Too many blockchain today are increasingly centralized, taking power from the people. Fushuma returns to the original vision of decentralization to empower the Fushuma community.

The community will own the Fushuma DAO when launched and control the Fushuma treasury.

6️⃣ Fushuma will launch a testnet soon, and those who participate will be eligible for a $FUMA coin Airdrop on mainnet launch.

(Soon, we'll have news on an NFT - only 69 will exist - that will boost the airdrop for early adopter. Dragon Farmers prepare! 🐲 ).

7️⃣ Fushuma's Vision for Tomorrow

A truly decentralized blockchain freeing individuals to shape their future without barriers or fears of centralized powers controlling that future.

8️⃣ Our social media are under verification, the IDs, banners, and avatars will be modified once this process is completed.

——
🌐 Retweet
🌐 Upvote

Evolving Together for Decentralization, Governance, and Efficiency

Surprise! We're ahead of schedule! 🚀

Proof Of Stake is coming sooner than expected⭐️

Get ready for enhanced security, scalability, and true decentralized governance. 🌎

Ready to evolve? Details here:
➡️https://clo.click/Callisto-Evolution

#CallistoNetwork but #Decentralized!

——
🌐 Retweet
🌐 Upvote

Good news for SOY Cold Stakers! 🎊

If you've migrated before, your reserved tokens for unlocking by May 1, 2024, have been automatically migrated to SLOFI!!

📈 See your total SLOFI balance on the migration page - no extra steps required!

👉 https://app.soy.finance/en/migrate

——
🌐 Retweet
🌐 Upvote

SLOFI Migration is Back!

Ready to migrate? SOY Staking, IDO, and $CLOE migrations are now active! 🚀

Please note that following the SOY token event, the direct migration will remain closed.

Begin your migration journey:
👉 https://app.soy.finance/en/migrate

——
🌐 Retweet
🌐 Upvote

🚀 That's a Wrap On Our Gleam Campaign!

Our 1st Adopters Giveaway ended with over 8,000 participants and 73,000 tasks completed ✔️

Thanks for making the SLOFI CryptoCommunity stronger 💪

To see the winners:
👉 https://clo.click/1st-Adopters

Rewards coming your way in 90 days! 🎉

____
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

Restoring Trust After the SOY Incident

In light of recent discussions on treasury fund transfers, we want to clarify our position and the reasoning behind our proposed solution.

We believe that the priorities must be guaranteeing the security of transactions from the treasury fund, refunding the SOY liquidity providers, and rebuilding trust within the Callisto Network community.

Why the Callisto Network Treasury Wallet is Considered "Compromised"

The term 'compromised' extends beyond unauthorized access, including situations where a wallet's trustworthiness is questioned. A wallet becomes "compromised in terms of trust" when the actions of one or more individuals with access to it lead to a loss of confidence in the community.

In the specific case of the Callisto Network and the recent SOY token incident, we consider the Treasury wallet as compromised in terms of trust due to several factors:

Multiple Private Key Holders: Multiple individuals with access to the Callisto Network Treasury's private keys bring uncertainty to the originator of transactions. This situation dilutes responsibility and makes determining who has authorized a particular transaction difficult.

Callisto Security Recommendation: Create a temporary wallet under the sole control of Dexaran to receive the funds.

Recent Unauthorized Actions: The unauthorized minting and subsequent actions that led to the draining of SOY Finance pools have directly impacted the community's trust. These actions have been possible because the contract owner has unlimited control of the smart contract. This has raised concerns in the community about smart contract ownership and the intentions of those who control it.

Callisto Security Recommendation: Proceed to a Hard Fork of Callisto Network with the Treasury fund being managed by a multi-sig wallet with the involvement of trusted community members.

Note about Dexaran's proposal: While intended to establish trust, the proposal to attach a pre-image of a keccak-256 hash to a transaction as proof of sender identity from Dexaran does not address the core issue, as there would be no definitive way to identify the sender if a transaction lacks this "proof."

To read this proposal, click here.

The community's reaction and concerns confirm that the integrity of the Callisto Network Treasury wallet, in terms of trust, has been compromised. Once damaged, trust is difficult to restore, particularly when transparency and accountability mechanisms are not rigorously implemented.

The ultimate goal of our proposal is to safeguard the interests of the Callisto Network community and restore trust in the platform's financial transactions.

Your Callisto Enterprise team.

Callisto Enterprise Refund Completed

We have transferred 26,628,200 $CLO to the wallet designated by Dexaran: 0x3264Fb22a50ecadc6DFd0F0e1938a0eef965C491.

Note that Callisto Network Explorer limitations result in internal transactions not being displayed.

The transaction can be seen here and here is the link to the Twitter Announcement.

Your Callisto Enterprise team.

SOY Token Incident: Callisto Enterprise Commitment

Dear Callistonians,

The recent events surrounding the SOY token have undoubtedly raised concerns within the community, and Callisto Enterprise is committed to transparency and rectifying the situation in the best interest of the investors and the future of the platform.

We are pleased to announce the steps we have proposed to Dexaran to address this incident.

1. Treasury Funds: In a commitment to fully address the incident, we will not adhere to the 50% refund proposal. Instead, we will transfer the entire amount withdrawn from the treasury to a wallet designated by Dexaran, and we will disclaim any rights to the Callisto Network Treasury in the future.

2. SOY User Refunds: Dexaran previously committed to refunding users affected by the February 16th, 2024 incident. Initially, this was conditional upon restitution of 50% of the amount withdrawn from the treasury. We have decided to go one step further by returning the full amount, thus ensuring there are no obstacles to Dexaran's commitment to reimburse SOY liquidity providers in full and without delay.

3. Additional Support from SOY Finance: SOY Finance will allocate 50 million CLO coins to support users who may experience losses during the refund process. This is significantly more than what was drained from the pools, demonstrating our commitment to the community.

We appreciate your patience and support and want to remind you that Callisto Enterprise has taken the necessary steps to prevent such events in the future and ensure the protection of the investor's funds.

Your Callisto Enterprise team.

📣 Unveiling SLOFI's Final Tokenomics

Sloth Finance is excited to announce the tokenomics designed to propel us towards our long-term vision.

In this update, we're unveiling the total supply of our native token, $SLOFI.

⭐️Benefits of the Tokenomics:

🔥 Enhanced Market Dynamics
⚙️ Support for Project Development
📈 Alignment with Long-Term Goals

ℹ️ The first SLOFI tokens release for migrators will take place in May 2024.

👉 Read all the details here!

Don't forget to clap the article 👏
____
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

Official Statement on Recent SOY Token Incident

On February 16, 2024, at approximately 5:30 PM UTC, a former member of the Callisto Enterprise team, acting as the contract owner, minted an astronomical number of SOY tokens across two transactions.

Minting Transactions Details:
- Transaction 1
- Transaction 2

Subsequently, the same individual exploited this excessive minting to drain the SOY Finance pools.

Despite our persistent requests to transition the SOY token contract to a multi-sig wallet, the contract owner did not update the contract.

This situation reinforces the essential need for "Trust" among the Callisto Network ecosystem, the development teams, and the community.

——
Impact on SLOFI Token and Migration Process

In response to this event, the migration contract has been paused and we are taking the following measures:

1. A blockchain snapshot will be taken immediately before the unauthorized minting occured.

2. This snapshot will be published and made accessible to the community.

3. We will manually mint tokens for community members who contact us to migrate their holdings before the April 30 deadline.

——
Preventative Measures

In light of this event, we are advocating for and implementing the following security enhancements:

1. Multisig Wallet Implementation: We strongly recommend using multisig wallets for contract ownership as a fundamental security measure, in line with Callisto Security's guidelines.

2. Renouncing Contract Ownership: As a proactive step recommended by Yuriy Kharytoshyn, CTO of Callisto Enterprise, we recommend abandoning ownership rights of any minting contract when possible.

——
Commitment to Our Principles

Since 2021, Callisto Enterprise has been a foundational component of the Callisto Network community, with our core team members deeply involved from the very begining of Callisto Network.

Over the years, our principal objective has been establishing trust above all else. Our team's transparency exemplifies this, as none of our core team members is anonymous.

At Callisto Enterprise, we believe that the blockchain space should be all about trust and we will continue our efforts in building a secure, transparent, and trustworthy environment for the community.

Our commitment to you, the principles of Decentralization and Trust remains stronger than ever.

Thank you for your support,
Callisto Enterprise Team

✨ "Building on Bitcoin" is now live on Publish0x

Bitcoin revolutionized finance once; are you ready to see it happen again in Decentralized Finance?

👀 You haven't seen anything in DeFi yet!

➡️ Click here to read!
____
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

🌱 A Fresh Look, Enhanced Features: The All New SLOFI

Sloth Finance is excited to announce a series of updates and enhancements to its decentralized application (DApp).

1️⃣ Advanced Token Integration
2️⃣ Notification System & User Experience
3️⃣ Multilingual Support
4️⃣ Migration Page
5️⃣ Resolved Issues and Miscellaneous Updates

Discover all the Improvements and Fixes:
➡️ Read all the details here!
____
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

🚀 Day 15 of SLOFI Migration is here!

💥 470K $SLOFI minted
✔️ 42M $SOY migrated
🔥 8,7M $CLOE burned

Don't miss out on the next DeFi Revolution! Join us now and be part of the change.

Migrating Now:
➡️ https://app.soy.finance/en/migrate

——
🌐 Retweet
🌐 Upvote

🚀 We Are Entering The Final Migration Phase!

This is your golden opportunity to be part of the future of Finance. 🦥

⭐️ Migrate Now! Swap 10,000 $SOY or 1765 $CLOE for 1 SLOFI before the window closes on April 30, 2024.

Don’t miss out on shaping the crypto revolution. Secure your spot in Sloth Finance's vision for a decentralized future.

➡️ Read more about the migration here.

——
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

🆕 Building on Bitcoin: The Impact of Mining Principles in DeFi

We're introducing an innovative approach where Bitcoin's mining mechanism is adapted to enhance DeFi tokenomics 🪙

Adopting Bitcoin mining principles in DeFi ensures a more stable and predictable economic model and aligns with the core ethos of decentralization and community empowerment.

Don't forget to clap the article if you enjoyed it 👏

➡️ https://clo.click/DeFi-Mining

——
🔥 Support Sloth Finance on Social Media!

🌐 Retweet
🌐 Upvote

🚀 We're Migrating!

Soy Finance evolves into Sloth Finance!! 🦦

🌐 Our new home is at sloth.finance but the original soy.finance remains available!

Stay Updated on our new social media channels:

🌐 Telegram Chat
🌐 Telegram News channel

🌐 Twitter
🌐 Facebook
🌐 Reddit

Don't miss anything happening in the Callisto ecosystem! Join Callisto Enterprise News Channel!

🌐 Callisto Enterprise News Channel

What to Expect?

🔥 Updates on our progress and new features
💬 Invitations to community events and AMAs
💵 Opportunities to participate in giveaways and contests

Welcome to Sloth Finance - Be Lazy, DeFi is EazZzy! 🌱