Dear Vikings!

First of all, we would like to sincerely apologize for the rollercoaster that the Simon’s Cat presale has been!

After extensively reviewing data on how AGGRESSIVELY some bad actors tried to game and bot this presale, we realized that the best way to put them in their place is to cancel the presale altogether.

In line with Floki’s motto of being the people’s cryptocurrency, we would NEVER allow the bad guys to win against our community of legitimate users – some of whom bought and staked $TOKEN weeks in advance, were up all night trying to get in, but were blocked out of participation owing to no fault of their own.

The initial Simon’s Cat presale was an OVERWHELMING success, selling out 100% of the planned \(4.25 MILLION presale hardcap 12 hours before the public presale was supposed to start and well before our Champion tier users, who are a key portion of users who staked \)TOKEN to get an early headstart, could participate.

While the presale selling out so fast is testament to how massive the Floki community is, we also saw evidence of foul play with some trying to game our Launchpad. To make things right, we revoked the purchase these bad actors made during the initial presale (a total of $223,815.20) and created a second presale to cater exclusively to TokenFi Champion tier users who were negatively impacted by their actions.

In turn, the attackers got more aggressive and once again tried to buy up the second presale with their bots.

As a result, we canceled the second presale and decided that there will be no new presale altogether!

Instead:

The Floki core team has decided that Floki will pay the Simon’s Cat team the sum of $223,815.20 that they would have gotten from the second presale and airdrop every legitimate user who was in the Champion tier at the time of our snapshot for free.

Yes, you heard that right:

If you are in the Champion tier, you no longer need to participate in any presale. We’ll give you $CAT tokens for free, paid for by the Floki treasury.

We’re doing this because we realize and acknowledge the hassles and incovenience you went through due to us underestimating how much HYPE the Simon’s Cat launch would have and how desperately bad actors would try to take advantage of this.

Here’s an overview of exactly what happened and how these users tried to game the system:

• Some users tried to game the initial presale: as soon as they purchased their allocation, they immediately unstaked their \(TOKEN and sent it to another wallet to restake and buy a new allocation from the new wallet, despite clear warnings that this will void their presale purchase. After a thorough investigation our devs found out that a total of \)223,815.20 was illegitimately purchased by these users.

• To ensure fairness to our users, we set up a new pool to exclusively allow Champion tier users who staked at least \(1,000 in \)TOKEN and were most affected by the actions of these bad actors to buy the new airdrop. The new pool was designed to give Champion tier users a 1 hour headstart and then allow the pool to move to a public sale should they not buy up the allocation.

• The bad actors got more unhinged and instead decided to unleash a more calculated and aggressive attack: they sent millions of traffic to the launchpad website relatively quickly, which is orders upon orders of magnitude larger than we anticipated since only 4,000+ users were expected to participate in the Champion tier based on the number of people that staked for the tier.

• Their aggressive and calculated attack froze the launchpad website, making it inaccessible to anyone. While they did this, they simultaenously had their bots buy up the presale tokens directly through the blockchain: they were able to do this since they had purchased and staked a lot of TOKEN across hundreds of wallet prior to be snapshot, which made them look like legitimate users. This shows you how calculative they were and how much planning they put into this!

  • The result of the above was that the bots organized by the bad guys could buy the second presale while the majority of legitimate Champion tier users couldn’t, since the bad actors had froze the presale website with an aggressive DDoS attack.

Here’s how we’re distributing the airdrop to Simon’s Cat users to make things right:

• A total of 4,044 wallets was captured as part of the Champion tier at the time of our snapshot on August 20, 22.00 UTC.

• Dividing the total number of wallets by the amount bought would result in an average of $55.345 being given to each user.

• Exactly 337 wallets tried to bot this.

• We want to send a VERY CLEAR message that we will NOT tolerate this kind of activity in our ecosystem because we will NEVER jeopardize the interests of our users. As a result, we will be revoking the presale purchases made by these 337 bot wallets and refunding them the USDT/BNB they paid for the purchase. If these bot wallets were included in the airdrop, they will get a total of $18,651.265 worth of CAT tokens. Due to the malicious attacks of these bots, our devs have been up all night for several days fighting these attacks and were also unable to participate in the presale as they had to mitigate the attacks and work out a solution for users first. Floki will distribute the funds these bots would have gotten to them instead!

• In other words, a total of 3,707 legitimate Champion tier users (i.e. 4,044 total stakers - 337 botters) will each be airdropped \(55.345 worth of \)CAT at presale valuation. All paid for by the Floki treasury. So, they don’t have to do anything and can instead use the funds they had prepared for the presale to buy $CAT at launch if they so choose!

Once again, we want to make it VERY CLEAR that Floki is the people’s cryptocurrency and our vision remains to be the world’s most known and most used cryptocurrency. We understand how CRITICAL fairness and equity is towards achieving this, and we will always do right by our users.

Once again, thanks for sticking by the Floki (and TokenFi) community and do note that we will ALWAYS have your back!