Fee Compensation Regarding the Recent xForce-Force Vault Hack

After the airdrop campaign done by the team, illicit activities took place regarding xForce-Force vault. The Postmortem of the hack can be read here. After that post, there was an announcement in Force Dao Discord channel highlighting the next steps for new token launch and airdrop. While mostly everything was included in those steps, there is one thing that team missed. That is the fees paid to claim FORCE tokens. One transaction for claiming xFORCE tokens, the other one is to turn xFORCE to FORCE token. Considering the high load in the Ethereum network, one paid nearly 0.043 Ethereum, roughly ~80-85$ in time being. Since the recent xFORCE and FORCE tokens are useless, those fees spent for nothing. While we still don’t know how will be the next airdrop, I have some ideas to compensate the fees community paid.

1.If the follow-up airdrop will be in the same shape as the previous one (claiming it as an interest-bearing token), the team should add x2 tokens corresponding to the fees since the claimer will make two additional transactions to withdraw new FORCE tokens.

2.If the follow-up airdrop will be sent to eligible wallets, then extra x1 tokens corresponding to fees should be sent by the team.

These are my suggestion regarding this issue. ForceDao is a community-driven project, so this might be a good exercise.

*Token price can be determined by the debut price after FORCE token listed on CoinGecko. This is just an idea, we could debate over it.
**Given the circumstances, this compensation process can be after the new token launch since there is a lot of workload on the team right now.

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Appreciate you sharing a proposal and hope it opens up discussion!

The first thought that comes to mind is with this approach how will you ensure that the token value is not diluted by the extra tokens? We don’t plan to increase the supply which would do the same thing, so not sure how this would affect your proposal.

Don’t need to increase the total supply, %25 of the tokens are in the treasury to be spent for financial strategies, products, etc. A small portion of treasury can be separated for this cause. Let us assume we set FORCE token price at 1,7$, claim+withdraw fees=85$; 85/1,7=50 for those who both claim and withdraw their FORCE tokens.

For my first scenario:

There are currently 1510 FORCE holders (assume that all of them went through this scenario), and we are doing the same airdrop distribution form; 1510x100=151.000 FORCE tokens.
There are currently 6235 xFORCE holders (assume that claim fee was around ~20$, 20/1,7=11,76 FORCE token), and we are doing the same airdrop distribution form; 6235x23,52= 146.647

(151.000+146.647)/25.000.000 = %1 of Treasury will go for compensation of fees.

For my second scenario, it will be %0.5.

I think spending %1 of the treasury to satisfy the individuals and regaining trust of community is reasonable. Also, %1 increase in circulation supply can’t drastically devalue token value.

Please inform me if there is a calculation/logical mistake, it’s late in here.

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The Forcedao investment has been my worst investment ever. It was totally disappointing. I provided 1000 usdt liquidity for 18 days. I only gained 87 $force. I paid a total fee of $ 490. I feel cheated😡

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Don’t look at the short-term situation, understand the project vision, it doesn’t matter if there is a problem in the testing stage, and Musk’s spaceship is also bombed, which doesn’t hinder the pace of changing the world.

i learned about force from vosk ( a nice youtuber / miner ) as he talked on gitcoin about force ( and that there will be an airdrop for grands9 donators to open souce projects ( what was not the case ) … as i am a core member of gitcoin and donator - i thought hey cool - lets check out force … i found out - they just got listed on CMC - and everything looked very promising for me. so i went to their website. where also everything looked pretty good. no messages of a hack … there. i have seen the token dropped almost 90% from the ATH of the airdrops price. so i thought it must be a good idea to join and see what these guys are buidl-ing … a day later i found out about the hack as i explored the twitter …

i did NOT sell the tokens when it even went up in price - as the website sayed “please do not trade on uniswap / sushi …” a month later - now my 1000$ invest is worth 30$ .

i tryed to talk to the support on discord, and had a nice conversation with a member and he/she told me she will ask the team about this case - but i never got any response.

this is obviously a very bad experience for me. anyway - heres my tx.

https://etherscan.io/tx/0x7f669d37873ffc374fd4c8f1ce33cf1d9f8d7ef34e3f260ec26c79fb2bdcfd51

thanks for reading . ps : im not an investor, and not a speculator. im a web3 ux/ui/frontend builder - working @ gitcoin. i feel this was super unlucky for me and not MY fail. the communication somehow went unlucky. i think there should be compensation - here is my upvote with all my voting power based on the V1 tokens :slight_smile:

wondering if you guys can re-think all this and do a manual TX for this edge-case - as i think i probably explained pretty well how this played out for me.

if you guys all disagree - good luck on the dark side of the force anyway …

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This the one of the worst investment i’ve made. They fail their promise, i bought some force token and hold it till now. Didn’t get airdrop, Joined Discourse ( Got Banned) for posting my opinion. This is going to fail. Don’t invest or trade on this platform. I used to stake, i’m going somewhere else to stake. just wanna share my honest opinion to you all. After all crypto investment is build for the community for fair distribution. This Force project is Centralised, Authoritarian platform. Lost 1k