Compensation Plan for SAKE holders on OKExChain

2 min readJul 13, 2021

Dear Sake community 🍶,

ChainSwap was attacked due to an exploit which resulted in around 1.42 m SAKE tokens, that were locked in ChainSwap’s contract, to be stolen on July 11th. There were over 20 projects involved in this hack.

ChainSwap provides the bridge between Ethereum and OKExChain for SAKE holders. The related ChainSwap mapping token addresses are frozen to filter out the hackers accounts. Since the bridge supported by ChainSwap is not functional, the KIP20 SAKE can’t be converted to ERC20 SAKE now.

Trading of the SAKE on Ethereum and BSC were NOT impacted and continue to operate as normal.

Compensation Plan

There will be 2 Compensation Plans available for all KIP20 SAKE holders to choose. All users who hold the KIP20 SAKE, their relevant wallets will be eligible for the compensation plan and will receive ERC20 SAKE or ASAP tokens as compensation.

Option One — ERC20 SAKE

Sake devs will donate ERC20 SAKE from a Dev Account to KIP20 SAKE holders impacted.

Ratio: 1 KIP20 SAKE = 1 ERC20 SAKE

Users can get the ERC20 SAKE with no lockup.

Option Two — ASAP Token

ChainSwap will compensate with ASAP tokens to KIP20 SAKE holders impacted.

Ratio: 1 KIP20 SAKE = 0.0368 ASAP

ASAP tokens will be released every day during a 6-month lockup period.

More details will be released soon.

Farming Pools on OKExChain

The 6 SAKE farming pools on OKExChain will end in block height 4373581 (Estimated Date: July 20th 2021). All unharvested SAKE tokens holders are also eligible for the Compensation Plan.

Thank the Sake community for the support.