Community Update 2020–10–23

Hello StakeHODL’ers,

We are excited to announce that the data migration process has begun!

Migration

This has been quite an adventure, and it will never truly be over: testing, optimization, security checks, upgrades — there will always be more to check.

Whilst the idea behind The HODL Project is relatively straightforward, the infrastructure that supports it is not!

After much consultation with our team and the auditors, we understand that the infrastructure will need constant checks, a bug bounty program, continuous QA and in-depth monitoring to be a step ahead of any unexpected challenges.

We could be testing the quality of the system until the end of the year. Still, the reality is, we have a living, upgradeable infrastructure that was made with continuity and adaptability in mind.

The audit report will be available to the community. No known bugs exist at this time, and the smart contract behaves as intended. As for certainty, there can never be enough; thus, the audit report suggests measures, like the bug bounty, that will mitigate those risks.

Again, this is the fate of pathfinders — to learn and adapt. This will continue to define the level of commitment our tech team has in the projects.

Governance policy

This policy consists of a multi-signature wallet (gnosis safe) controls a smart contract that enables upgradability and trade-stop. The multi-sig operates on a voting basis. There are five voter wallets. The quorum for any action is three votes out of four. The fifth key is a failsafe, given to a trusted party as a recovery key in the event two keys are compromised at the same time. The core tech team will keep custody of these wallets and the voting and monitoring responsibilities. This policy will also serve as a backbone from which the on-chain governance will develop in the future.

That being said, trade resumes soon!

Good Governance and Good HODL’ing!

The HODL Team

HODLCommunity proposes the vision of a sustainable economy for anyone, either individual or organization by the usage of a disruptive new algorithmic token