Audit release and token lockups

Hello, #PartySquad. We are happy to publish our first audit and the token lockup smart contacts. Both of them will bring a new step into offering a secure platform for our users. We couldn’t be more excited!

Audit

Please click here to read their analysis. We also published their audit on our landing page!

In their analysis, we confirm the code is secured to bring you a safe and great experience. However, the only flaw pointed out was a possible mechanism that could allow users to use flash loans to affect the price of AVAX/PARTY and take advantage of it in the process.

The good thing is that Avalanche doesn’t currently offer any service with flash loans (at least with enough liquidity) that could allow these types of attacks. Still, we know they are coming very soon due to the exponential growth of AVAX. So we will start applying different measures to prevent a successful attack of this type by integrating TWAP and Chainlink in our application. Our current ETA for the deployment of these improvements is set to be by the start of next month (we will publish more details in a new blog post after our app release).

Aside from that, we plan to do more audits with bigger companies in the future. Please stay tuned for these!

Token lockups

To offer a secure system, we need to give you reasons to trust in us. We locked the tokens that were planned to be used in specific development areas of our platform. We set deadlines that are closer to the date of the usage of these tokens.

To know more about how our team will manage the initial token distribution, read our Tokenomics article.

Team Allocation Lockups

  • The first unlock will occur 14 days after our platform release. See details here.
  • The second unlock will occur 60 days after our platform release. See details here.
  • The third unlock will occur 120 days after our platform release. See details here.
  • The fourth unlock will occur 180 days after our platform release. See details here.
  • The fifth unlock will occur 240 days after our platform release. See details here.
  • The sixth unlock will occur 300 days after our platform release. See details here.

Airdrop tokens (50%)

  • The first unlock will occur 30 days after our platform release. See details here.
  • The second unlock will occur 60 days after our platform release. See details here.

Jacuzzi tokens

The rest of the tokens (17,622,875 $PARTYs) will remain locked in a contract for the next three months. Once these tokens are unlocked, we plan to take the next batch of tokens and re-lock the rest.

  • The unlock of these tokens will occur 91 days after our platform release. See details here.

Community Marketing

  • The unlock of these tokens will occur 64 days after our platform release. See details here.

Treasury

  • The unlock of these tokens will occur 61 days after our platform release. See details here.

Investors

  • The first unlock will occur 14 days after our platform release. See details here.
  • The second unlock will occur 60 days after our platform release. See details here.
  • The third unlock will occur 120 days after our platform release. See details here.
  • The fourth unlock will occur 180 days after our platform release. See details here.
  • The fifth unlock will occur 240 days after our platform release. See details here.
  • The sixth unlock will occur 300 days after our platform release. See details here.

Multi-signature wallet tokens

  • 6,002,125 $PARTYs are for Jacuzzi daily injections.
  • 4,400,000 $PARTYs are for validators and delegators airdrop tokens.
  • 825,000 $PARTYs are for the initial development cost (treasury).
  • 1,100,000.04 $PARTYs are for the community marketing cost.

And that’s it! Thanks a lot for trusting in us, and we hope this article brings more transparency.

About PartySwap

If you have inquiries about our platform, please don’t feel afraid to ask! hello@partyswap.io

We build while having fun! — Our Medium profile is a backup to all our blog posts posted on our website.