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Number of buys now greater than the number of sells
Will let me sell everything but I can't buy a bean...
I think you may have gone too early. A single post on this board panics the mega weak. They will continue to sell. Was looking at topping up at .14s but may wait now until .12s
So many clown investors out there it’s just wonderful.
Come on now keep selling please.
This sp is way too cheap - I have topped up while the price is at these levels - I got a price of just over 0.155.
What ever the politicians say - it will take them years to regulate crypto currencies - one could argus that buying and selling shares on AIM is also a form of addictive betting - it wasn't that long ago when the Bank of England was talking of introducing its own crypto currency..............
GLA
Yes yes yes!! Come on clowns keep selling. Keep selling!! Many thanks
If it's treated as gambling, will any realised profit now be tax-free?
Many thanks bobsson
so you have no particular reasoning or figures for the 1.4p ?
1.4p to NAV makes no difference to BLU share price, we currently have NAV of 0.24 but the market trades at 50% below, market only cares about certainty, this comes when we actually get figures associated with either Dynasty or Satoshipay
Dynasty worth £100m (AU$ 187m) = £13m to BLU = 0.26 per share
Satoshipay worth £50m = £14m to BLU = 0.28 per share
low end target price 0.54
Industry Recognition
The crypto world has taken notice of Pendulum since its launch on Mainnet, resulting in extensive PR coverage and a surge of interest in the project. One such example is this recent detailed thread on Pendulum from Crypto Twitter researcher Coinesper.
We've got plenty in store for you, including PEN and AMPE listings and the launch of 0xAmber. To stay in the loop with all of our exciting developments, be sure to follow us on Telegram, Discord, and all our social media channels.
Istanbul #BESUMMIT 2023
Last week our Co-founder, Alex Wilke, had the opportunity to speak at the Blockchain Economy conference in Turkey. This significant event, one of Eurasia's largest blockchain conferences, brought together experts and key players from the crypto industry to discuss the future of finance. Looking forward to Dubai in October!
PEN and AMPE Wallets
Our Pendulum token (PEN) and the upcoming AMPE will be supported by several top-tier wallet providers, offering the community more flexibility and benefits. We're thrilled to collaborate with these providers to enhance the management of digital assets.
Polkadot Prague
PolkadotPrague's new website is now live, offering a comprehensive view of what promises to be an incredible event. Our Lead Blockchain Engineer, Marcel Ebert, is among the impressive lineup of speakers who will share their insights and expertise with attendees.
Gearing up for 0xAmber
0xAmber is launching on Pendulum mainnet soon and aims to be new Web3 home for fiat stablecoin liquidity. Keep an eye out for opportunities to provide stablecoin liquidity on the 0xAmber AMM.
Our partnership with LINK will bring a suite of financial services to African users, including yield-earning opportunities, borderless payments, and more. We aim to streamline cross-border payments for millions of Nigerian crypto traders and make decentralized finance more accessible to African users.
Https://twitter.com/0xamberhq/status/1658130211165155330?s=46&t=Hs8cIWE1M4Gyz5yjtvYSjg
Blu: As of now I agree with you. I just speculate on a rosy future.
Thanks AE 👍
A lot of work there, thanks for the info.
In mid-April, a number of PEN tokens experienced a breach perpetrated by an attacker, resulting in temporary deposit pauses on the crypto exchange MEXC. Acting swiftly and in close collaboration with MEXC, the Pendulum team effectively averted any significant consequences. The Pendulum team are pleased to report that the stolen PEN tokens have been successfully brought under the control of their rightful owner, and deposits have resumed on MEXC. In this article, we aim to provide transparent insights into the incident, offering a comprehensive breakdown of the events that transpired.
What Happened
A strategic community supporter inadvertently disclosed a wallet seed phrase to a third party, resulting in the breach of their PEN accounts. The attacker, posing as an admin on Telegram, exploited the victim’s trust, ultimately leading to the compromise of their wallet.
The attacker took control of the wallet and began sending unlocked PEN tokens to MEXC for selling purposes. Once the victim realized their wallet had been compromised, they promptly reached out to the Pendulum team for advice and help on mitigation. The team acted swiftly by contacting MEXC who halted deposits, preventing the attacker from further selling PEN tokens and ensuring the protection of the community.
In response to the incident, the Pendulum team advised the victim to stake their entire balance, effectively locking the tokens for a period of at least seven days. The victim was also encouraged to inform local authorities about the breach. This proactive measure was in accordance with Pendulum’s staking pallet, which requires a seven-day unbonding period. It allowed for the necessary time to inform local authorities, work collaboratively towards a solution, and minimize the impact of the incident.
Social Engineering Attack Attempt
The victim was seeking help on the official Telegram channel of a wallet provider. They were then contacted per private message by the attacker, disguising themselves as admin of that channel.
The victim was under the impression they were communicating with an official representative of the wallet project and requested help in staking their PEN. The attacker then directed the victim to a website extracting their private keys — which rendered the wallet’s control in the hands of the attacker. PEN tokens were then unstaked from these addresses:
6gDQi9wtrATW28fXMkJodRKLCBW8YipJbKdUhiu8xSnBapJr
6gcrqpLP5nyyWHPbV8jmeEfhhGxADZgRwWkB6pMPAedryYqP
And after the 7-day unbonding period ended, some of the PEN on these addresses was sent to MEXC to be sold, causing a spike in sell volume. The victim, with the help of the Pendulum team, staked their tokens immediately after learning of the breach. The attacker unstaked them again, in an attempt to gain sole access to the assets.
Solution: Deploying Pendulum’s Built-in Governance
To address the security breach effectively, the governance council decided that all essential transactions were to be conducted as public referendums, requiring root privilege. As some of these solutions involved blocking specific blockchain activities, such as token transfers, our priority was to minimize the required execution time. To expedite the process, the referendums were fast-tracked with the invaluable support of the Pendulum technical committee.
The key transaction, which served as the core solution, involved transferring all remaining funds from the compromised accounts to newly created accounts under the sole control of the victim. This transaction ensured the seamless transfer of the original vesting schedules from the old accounts to the new ones. Notably, this pivotal transaction was successfully executed in block 524,496, marking a significant milestone in the resolution process.
This main transaction was more complex as it first needed to ensure that there were no remaining locks on the two compromised accounts — otherwise the tokens on these accounts could not be moved to new accounts. There are three possible locks that the transaction had to take care of:
vesting lock: the transaction calls a root extrinsic function in our vesting-manager pallet in order to remove the existing vesting schedules
staking locks: the transaction unlocks all remaining locks with our staking pallet
voting locks: the transaction unlocks all locks that are subject to previous votes with the democracy pallet
These unlocks could fail if there are no such locks in place while the transaction was executed. For that reason the transaction was carefully crafted to deal with this situation. The complete transaction is visible and has been submitted as a preimage in block 524,341.
To facilitate instant unlocks and prevent the attacker from manipulating funds before the main transaction, a series of runtime upgrades were proposed by the council via a referendum and fast-tracked by the technical committee. These upgrades involved adjusting configuration parameters and blocking certain actions. Preceding the main transaction, two upgrades were performed, followed by another upgrade to restore the original configuration settings. The code changes for these runtime upgrades together with their execution time are:
runtime ugprade 1, executed in block 523,537
runtime upgrade 2, executed in block 523,989
runtime upgrade 3, executed in block 525,317
Conclusion
It is important to note that this breach was a result of a carefully orchestrated social engineering attack, taking advantage of human vulnerabilities rather than any inherent security flaw in the Pendulum system itself. Pendulum is working properly and without security flaws since inception, benefiting from Polkadot Relay Chain’s shared security. This incident demonstrates how important it is to be aware of the tactics scammers deploy and to properly manage keys.
Thanks to extraordinary efforts by the entire Pendulum team, the remaining PEN are now in the hands of the owner again. The Pendulum team deeply appreciate the patience and support of the Pendulum community throughout this process. We are committed to producing educational content on security and safeguarding PEN tokens in the future.
About Amplitude
Pioneering the internet of fiat. Amplitude is the sister network of Pendulum on Kusama. It will act as a testing ground for Pendulum applications and network parameters and be powered by the AMPE token.
About Pendulum
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
Keep your eyes on the Pendulum!
@bobsson
do elaborate with your calculations.
i am looking at a maximum of 0.3- 0.5p per share as of NOW, the US would be fascilnating and a NASDAQ listing spectacular, as i have said previously, US would offer a much better rating (PE ratio) and a keener tech following.
thanks in advance
blu
Yes. I make it 1.37p to BLU per share NAV in 18 months time if Dynasty continues its current rate of stellar growth. It is targeting the USA soon. USA can be a graveyard, but if you make it, you make it big.
@bobson
do you mean it will add 1.4p to the NAV of 24p, if so approx 6% .
you can not mean 1.4p to the BLU stock price?
1.4p would mean Dynasty being valued at £545m = £70m or 1.4p to blu
nothing would please me more , believe me , but seems a little OTT to my mind.
same as you, i'm in BLU for Dtransfer, Dynasty and disruption of FX market.......
i dud not invest in BLU ( ALL those Years ago) for missing timelines, missing target, project delays, poor communication to stakeholders (Dynasty)
i feel sure TF is on top of it and matters progress as we approach valuations / stake sale.
atb
blu
Fair play ragnarr, let's agree to disagree and time will tell when vesting ends. ATB
Agree 100% ragnarr & dukee
PEN now looks on the cusp of a break to the upside, i am sure with the release of xAmber that BLU stock will follow suit, ridiculous to be trading at this discount to NAV?
to my mind, even now, BLU should be at 0.3 , given markets are forward looking and any further annoncements should add to that.
The most likely way for Satoshipay to monetise is via wholly owned Dtransfer. Look at this from the March RNS of the final results:
“ Outside of Pendulum and its linked business opportunities, SatoshiPay owns 100% of Dtransfer which was established in 2019 as a cross-border payment solution on blockchain. The directors of SatoshiPay believe the money transfer market is primed for disruption and the launch of Pendulum is an important step in SatoshiPay entering this market. SatoshiPay plan on reinvigorating their efforts with Dtransfer once the Pendulum launch is successfully completed.
The successful incubation of Pendulum followed by 0xAmber.com (formerly: Amber.com) provides the board of SatoshiPay with confidence that they are well positioned to incubate other DeFi applications with a stablecoin, foreign exchange or business focus.”
Dtransfer is perfectly placed for first mover advantage in DeFi.
Hi NtD, I think in 18 months time Dynasty NAV to BLU will be around 1.4p so as you say good value there alone.
Pablo - looking back over the debate I think I probably initiated the ‘sour taste’ of the thread which wasn't meant and for which I apologise.
Rather than us just argue over phraseology etc - i think we do agree on the basic facts.
Total PEN tokens 200m
PEN tokens Allocated 160m of which 15.2m are currently available for purchase/trading etc and the rest are currently vested for between 18-36 months (although treasury is 60 months).
After the vesting periods the owners of the tokens are at liberty to sell. And simply put this is where our opinions differ - your view is they will flood the market thereby diluting price while my view is that a majority will remain staked for collators/liquidity/gas fees etc
ATB