Since the cryptocurrency market is home to numerous projects, the novel project Uwerx had to be exceptional if it would make a successful launch into the cryptocurrency market.
Uwerx started from its presale to show signs of success in the coin market. It recorded huge milestones in each presale phase, translating to more and more investors pitching their tents with it.
Following its successful launch into the coin market on August 2, 2023, Uwerx became even more popular among crypto enthusiasts. The project faced a harsh test just days after launch as a hacker attacked it.
Despite the uncertainty among investors, their fears were reduced when the Uwerx development team rallied to see that Uwerx brings massive returns to investors.
Uwerx’s Fate After Its Noteworthy Presale
Uwerx officially joined the cryptocurrency market on August 1, 2023, to the excitement of its developers. Last-minute investors got in on the excitement and enjoyed bonuses.
With the launch over, Uwerx developers continued enhancing the platform. They integrated Contract Preview, Freelancer role selection, Message Search, etc. They also introduced the Login, Settings, and Additional Settings Page.
Furthermore, the development team introduced a 1% burn, 3% sell tax, and 2% for marketing. These moves made investors happy, but their happiness didn’t last long.
Uwerx Suffers A Huge Loss
On August 2, 2023, the Uwerx community was shocked to learn that a hacker had gotten into Uwerx’s Uniswap pool and made away with $327,000.
Reports showed that the hacker exploited an imbalance he created to steal the funds.
This theft hit the Uwerx community hard, and many wondered how the project could bounce back.
The Uwerx Development Team Gets to Work
The attack highlighted the commitment of the Uwerx development team. Following the attack, the team ensured the community that a recovery strategy was underway. After contacting SolidProof and InterFi Network, they urged the attacker to return 80% of the funds.
To keep things rolling, the team updated the tokenomics and the Uwerx platform. A new contract address was created and sent to two established auditors and an independent auditor for audits.
The audited WERX Token Smart Contract had no issues, while the Uwerx Vault Smart Contract revealed several issues. After fixing the problems highlighted, the team created a new WERX Token Smart Contract. They then submitted the WERX Token and Uwerx Vault Smart Contracts for re-audits.
The new WERX contract address is 0x9b2CFE1608250BEA375c6199b474B402BaD920da, and the team urges users to add it to their Polygon network.
Faithful to their earlier promises, the team burned 25,499,071 WERX tokens and locked their token for nine months. Users also enjoyed the airdrop and now have one WERX in their wallets. The Uwerx Vault deployment has been added to the list of features to be deployed soon.
With transparency in mind, Uwerx developers released a detailed workflow for course creation. They asked the community to go through it and send feedback. Furthermore, the team started designing work for service integrations and webinar sections. This includes LinkedIn, Monday.com, and more.
Additionally, they released a Figma file containing service integration designs so the community can be carried along.
Uwerx Ready To Relaunch on October 25, 2023?
Uwerx developers recently announced that the relaunch of Uwerx will happen on October 25, 2023, at the rate of $0.056/WERX. They promise to fix all issues identified in the second audit before the date.
The team has indicated that the MVP version of the Uwerx platform should be completed by October 30, 2023. They aim to fully set up the platform within six months from October 30, 2023.
The Uwerx team shared the finalized design for creating courses by freelancers. They also shared the designs for service integrations with platforms like LinkedIn, Trello, Asana, and Monday.com. Additionally, the design for the webinar section has also been finalized and shared with the community.
The Uwerx development team has a clear vision for the Uwerx platform. As a result, they will continue adding features and improving functionalities to the platform even after the launch.
The promised airdrop will come shortly after the relaunch on 25th October 2023. Users are advised to confirm their receiving wallet address by 15:00 UTC on 8 October 2023.
Uwerx developers have also addressed the confusion on DEXTools and different token/staking contracts. According to them, users do not have to worry, as there are no risks associated with the DEXTools and different token/staking contracts.
The team has implemented a tax mechanism strictly directed towards the liquidity pool. The tax will help protect the platform from attacks. In the rare chance that the platform is attacked, the team can set the tax at 80%, which will cause the attacker to lose 80% of their funds while still keeping the liquidity pool intact.
On the issue of sell tax, the team has capped the sell tax at 30% and promises it will never exceed that percentage. This 30% cap was done believing it would never be activated. We didn’t make it 100% precisely to avoid malicious misuse.
As for the promised renouncement of smart contract ownership, the team has announced that the renouncement will take place once all smart contracts for premium features are up and thoroughly tested. They hope WERX will have been listed on CEX exchanges before this time.
Knowing the importance of marketing, the team will ramp up marketing in line with the relaunch, MVP release, and the full release of the platform.
Additionally, the team recognizes and appreciates the community’s patience. They ask for more patience as they aim to make sure that all aspects are covered. They urge members to send constructive feedback to feedback@uwerx.network.
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