Cerby Finance
Liquidity Redistribution Update
We then introduced the Polygon chain to our bridge and decided to redistribute the liquidity because the fees on the Ethereum network were unaffordable for our holders. This would allow for natural trades on BSC and Polygon. The following changes were completed:
  1. 1.
    DEFT/ETH Uniswap pair had to be 'rug pulled,' meaning we had to mint 1 Trillion tokens, sell them on Uniswap, and then burn 1 Trillion of the tokens from the Uniswap pair, which allowed us to extract all ETH from the pair's liquidity. This was the only possible way to extract the liquidity because it was initially locked for 100 years.
  2. 2.
    Extracted ETH was converted to USDC (stable coin) and redistributed in the following proportions:
    Uniswap v3: 10%
    PancakeSwap: 50%
    QuickSwap: 40%
  3. 3.
    The new listing price was determined to be the same as it was on DEFT/ETH pair 1 DEFT = 0.000042 USDC
Copy link