Quick launch recap — we are ready to move forward 🟢
Quick recap
Yesterday we had our full launch and the TGE of $IX token reached nearly $10M USD in trading volume in just a few hours.
Today is the first day of the new beginning, now that we have deployed critical infrastructure to the Oasis Sapphire chain, it’s time to start moving along the road map as planned.
The launch yesterday was a bit rocky as there were some unexpected technical issues. The good thing is that our systems are solid and there was no technical or protocol related issues that resulted in any user fund losses. However, for some users, the UX may have been too difficult to use and this is something we’ll iterate over in the upcoming days.
In software, deployments are challenging, and during the full launch we had many moving parts that all had to be simultaneously executed. Considering how challenging this deployment was, in addition to the unexpected technical issues, things went well. Our team along with our partners handled the situation promptly.
If you did not receive your funds yet:
BEFORE CONTACTING US, CHECK YOUR BALANCES AS WE HAVE RAN THE EXECUTOR AND YOU SHOULD NOW HAVE YOUR FUNDS, ASSUMING YOU DID NOT SEND FUNDS TO ANY CONTRACT ADDRESSES!
1. If you swapped into pIX, please check on your wallet page, and not your EVM wallet. Our wallet interface can be found here.
If you are sure you did not send funds to any contract addresses, contact us via telegram to get it resolved. No team member or mod will DM you first or ask you to connect to any websites.
So what happened during the first hour of launch?
During the first hours, there was an unexpected amount of traffic on the network and it resulted in many things.
Some users reported that funds had not arrived, and reasonings for that can be found below.
1. Executor “skipped” several transactions due to RPC downtime. We are already running it to execute all the transactions that might be skipped.
2. Slippage mismatch. Many transactions are rejected because of the price change during the arrival time. In that case you should go to the status page and click on the button to get your bridged tokens back.
That’ll require ROSE for gas.
3. Users sent funds to contracts instead of personal addresses. The “To” field appeared to be ambiguous for some people and they pasted contract addresses there. Sadly we can’t do anything about funds being sent to uncontrolled contracts. We’ll change name to “Receiver” and implement a check so that in future you get a warning if you try to send funds to a contract.
4. RPC nodes had some lag. Because of that they might show outdated state for people and the frontend. Though it’s not common at all, some people were facing that issue.
We’ll continue assisting people who had problems with their funds not arriving to make sure that the executor has picked them up the skipped transactions.
We once again apologise for these unforeseen technical issues that no one could have been prepared for.
So what is next for illumineX?
It’s going to be an exciting start of the year, a strong Q1/Q2 with multiple improvements and expansions. We’ll be looking shortly at implementing and pushing live our referral program to incentivize growth, referrer will get portion of fees revenue generated by the referrals.
The IX cross chain engine — we’re bringing confidential cross chain exchanges between EVM <> BITCOIN along with supporting more chains and assets.
The cross chain engine is the major development in the near future, but in addition to that we’ll continue to iterate over user feedback to improve the product further on the UI/UX side.
Best,
— The illumineX team
