HODL Delivers Another Strong Proxy Contract Update
Wed May 11, 2022
"As a technology company, we're continually working hard to refine our contract to make it more and more powerful."
- Adam Roberts, HODL CEO
HODL makes 3 updates to develop its contract.
NEW ClaimSafe Feature: Many small investors are claiming rewards that are worth less than the amount they pay in gas fee - most simply don't realize or pay attention to how much BNB they claim vs the gas fee. This means BNB comes out of the reward pool and these investors lose money - its a lose/lose scenario that over the last 12 months has cost a huge sum of money to investors and the project. Our new ClaimSafe feature will block claims where the claim is worth less than the gas fee on both BNB and Reinvestment claims. In addition - we will soon add a message to the website that these small investors can stake their HODL or top up their bag if they meet this condition, helping grow the project and investors understand how to capitalize on the opportunity of HODL's passive income.
To put into perspective how incredible this new feature is; if we had this built-in from launch 12-months ago - it would have saved hundreds of thousands of dollars from the HODL BNB reward pool and investors' pockets. This update will also ensure we're more than ready for the next bull run with this and other things we've learned along the way.
More General Optimization: We've removed some useless code and functions that are no longer being used to reduce the contract size and complexity to help reduce gas fees further. This constant process of shortening the contract whilst adding more functions means we're adding more capability to the contract with less fees for investors when claiming rewards, buying tokens, transferring or selling.
NEW Staking/Unstaking Claim Date Fix: There is a condition in our contract that pushes back the claim date on collecting rewards when you top up your bag by more than 25%. The issue is that now we offer staking, if you stake your bag it moves the tokens out (leaving 1 token if staking 'max amount') and so if you then buy some more tokens in the now empty bag, it will push your claim date back a long way (reports for some moving in to July etc). We've updated the contract so that when you unstake it will ensure your claims do not exceed the max claim date of 7 days to still allow this function as intended but not interfere with staking. To stake your tokens visit the HODLX DEX.
These features will save our reward pool and investors money and ensure investors who stake don't get delayed claims when coming back to the central reward pool.
Learn more about our innovative contract by checking out our whitepaper.