Detailed Guides as per STBU Utility Token Restoration Action Plan

Dear Stoboxians,

These have been hard days for our Team and we continue our work to settle up the situation completely as soon as possible. We appreciate your support and understanding as well as your help and sharing your ideas and suggestions with us. We are happy to have such responsive people with us!

In the light of the recent events, the Stobox Team made a crucial decision to totally separate our native token of the Stobox Exchange, the STBU, from the upcoming mineable coin of our L2 Progress chain, PRGRS.

The main reason for this decision though is that the Progress Chain is built for security tokens’ transactions. Security tokens are heavily regulated and have different nature. So, to become a node holder for the Progress chain you would need to have a specific amount of PRGRS coins instead of STBU. More details on this will be published later.

In order to make up for the inconvenience the Team also made a decision to qualify all the STBU holders who have a balance on the Stobox Exchange as of a certain date for the PRGRS coins airdrop at a 1:1 ratio. Please stay tuned for more details about this.

Please see below the further steps and plans according to our Hack Action Plan for different types of holders.

Note that the process differs for holders of pre-hack balances of 10K STBU and more and holders of pre-hack balances of less than 10K STBU. This is to optimize the Team’s expense for transaction fees.

❗ Please remember that compromised STBU tokens are neither valid, nor supported by the Team.

▶ See the snapshot here ◀

If you hold STBU on your wallet (MetaMask, TrustWallet, etc)

For pre-hack balances of 10K STBU and more — the Team will send the new STBU tokens within the week starting from 12 January 2022.

For pre-hack balances of less than 10K STBU — please register at https://stobox.exchange and send your old STBU from the wallets to the Stobox Exchange, so the Team updates your balance with the new STBU tokens. Gas fees to be compensated in Stobox Tokens.
Estimated date for sending your old STBU to the Stobox Exchange is 17 January, 2022, however, please wait for our official announcement.

If you hold STBU on CEX (Centralized EXchange) — Gate.io, Probit

The STBU balances of the CEXs’ users are represented only by the total STBU balance of the exchange on the blockchain. We know nothing about the internal distribution between the exchange users. So, for this case the old tokens will be replaced by the new tokens, and therefore the balance remains the same. Estimated recovery starts from 15 January, 2022

❗ Note: None of the DEX trades after the post-hack event will be taken into account and compensated with new STBU tokens.

If you have an active Staking at a Pool at staking.stobox.exchange

Please be advised that your old STBU tokens will be replaced by the new STBU tokens according to the calculations in the Staking / Farming tab of the table above.

Please note that the Team rounded up your staking period, so your rewards include the entire January and not just 6 days when the attack occurred. This is also a settlement for your inconvenience. Estimated recovery starts from 12 January, 2022

If you have an active LP staking on one of the LP Farms (Pancake Swap, UniSwap, MMPRO)

Please contact our Support Team via Telegram DM or email support@stobox.io with your wallet that was used for LP Farming. This is requested because LP Farms have a more complicated rewards system so we will need to take a deep look into each case individually in order to compensate accordingly. Estimated recovery starts from 12 January, 2022.

Progress Chain $PRGRS Airdrop

Once the transition to Stobox STBU Token v.2 is complete the Team will do the registry snapshot on Stobox Exchange and airdrop Progress Coins to all holders on Stobox Exchange. The amount of Progress airdrop is set to 1:1 to STBU.

!Disclaimer: the situation is not related and doesn’t affect our Tokenization direction and personal Dashboards of our clients.