In light of the recent Poly Network hack that has profoundly affected Torum’s ecosystem, our first priority is to maintain the security and integrity of our community. As a result, we have been developing and refining a plan to rectify this situation. The following proposal outlines our proposed steps to isolate the influence of the hacker, secure the circulating supply of XTM tokens, and bolster confidence in the Torum ecosystem.

=========== MOTIVATION

Exclusion of Hacker's Influence In the decentralized world of cryptocurrency, confidence in security and the integrity of a network is paramount. The unfortunate incident involving the hacker's unauthorized access and theft of XTM tokens has undoubtedly raised concerns within our community. It is therefore of utmost importance that we neutralize any possible impacts from this incident. By blacklisting the hacker's address from the new token airdrop, this action will allow us to revert the majority of the potential damages that may still be caused by the Poly Network exploiter.

Securing the New Liquidity Pool Our commitment to providing a safe and secure environment extends to all aspects of our ecosystem, especially the creation and operation of on-chain liquidity pools. On-chain liquidity pools play a crucial role in the health of a decentralized cryptocurrency and any influence the hacker might exert could have destabilizing effects on our ecosystem. With the goal of avoiding such scenarios, this proposal calls for pre-emptive blacklisting of the hacker's address, ensuring that the stolen #XTM tokens can never be utilized in any future liquidity pools. This proactive stance guards against potential threats and contributes to the sustained health and stability of our ecosystem.

Maintaining the planned XTM Circulating Supply of 800M An essential factor in maintaining a stable and healthy cryptocurrency ecosystem is ensuring a controlled circulating supply of tokens. By nature, a token's value is closely tied to its supply and demand dynamics. If the stolen XTM tokens were to be unexpectedly injected into the circulating supply, it could result in unpredictability and potential devaluation of the token. This proposal is therefore critical to maintain the planned circulating supply of XTM tokens of 800M by reverting the damages done by the Poly Network exploiter and ensuring stability within the Torum ecosystem. It seeks to assert full control over the circulating supply by reverting the 252,642.5028 $XTM that has been wrongfully entered into circulation by the hacker’s sell-off into the BNB/XTM LP pool and ensuring the hacker's remaining stolen XTM tokens will never enter the circulation of the upcoming deployed XTM, thus preserving the value of our token and the economic balance within our ecosystem.

=========== IMPACTS

Securing Community Interest By blacklisting the hacker's address and effectively excluding them from the new XTM token airdrop, we take a significant step toward securing the community's interests. This action effectively isolates the stolen tokens, creating a secure environment that is resistant to the hacker’s manipulation. With this measure in place, we can confidently assure our community that our upcoming liquidity pool remains impervious to any potential adverse actions by the hacker. This serves to fortify the integrity of our ecosystem, cultivating a more secure and reliable space where our community can buy and sell $XTM on-chain liquidity with peace of mind.

Prevention of Additional XTM Emission from Hacker The original plan for XTM envisioned a total token supply of 800,000,000 units. This strategic number was carefully considered to balance scarcity, utility, and accessibility, thereby supporting a healthy token economy. However, the hacker's illicit acquisition of 112 million XTM (ERC-20) and 29 million XTM (BEP-20) from the Poly Network bridge contract poses a threat to this delicate balance by increasing the total token supply without the community's consent. Such uncontrolled supply expansion could potentially dilute the token's value and disrupt the economic balance we strive to maintain. By excluding the hacker's XTM from the total supply, we can effectively restore the originally planned token supply. This action not only supports our token's value but also aligns with the best interests of our community. It's an assertion of our commitment to maintaining a stable and predictable token economy, bolstering trust in our governance and our token's integrity.

=========== SPECIFICATION

This proposal will grant Torum Torum the discretion to carry out the blacklisting of the stolen XTM of the hacker and the non-inclusion of the hacker’s address in the upcoming XTM airdrop.

Blacklisting Stolen XTM The team will actively blacklist the addresses associated with the stolen XTM. This process ensures that the hacker is unable to take any actions with the stolen XTM within our ecosystem.

Non-Inclusion in Airdrop As we proceed with deploying the new XTM token contract, we will intentionally exclude the hacker's addresses from the airdrop. This action ensures that the planned 800M circulating supply of $XTM is maintained.

=========== EXECUTION PLAN

Following a successful vote, Team Torum will exclude the hacker’s addresses that hold the ERC-20 and BEP-20 XTM from the snapshot which is:

Ethereum Mainnet: https://etherscan.io/address/0xb491d5b773156362c355fa8b1ce4bb94e8173baf

BNB Chain: https://bscscan.com/address/0xc38d82b02ea66e3341ff300ead4a4d28b21dbcad

The exclusion will mean that the hacker will not be receiving any XTM airdrop from Team Torum, when the new XTM token contract is deployed, effectively cutting out any malicious attempts of the hacker towards the Torum and XTM community.