5 Lessons Learnt from PolkaCash v1.0

  • Burning of admin keys — In order to establish greater trust from the community via the ethos “don’t trust us, trust the code”, the burning of admin keys have proven to be a devastating blow as bugs that actually have been easily solved were pretty much unsolvable.
  • Clogged traffic — Due to a congested ETH network and our reluctance to disappoint users by delaying our launch with further in-depth testing, we pushed through our smart contracts despite the gigantic fees to launch as planned. As users might have noticed, we still launched 25 minutes later despite paying through the nose for gas.
  • Fair play for small stakers — In an attempt to level the playing field between our small stakers and whales, we intended to put in a limit of $20,000 stake limit instead of a free-for-all. Alas, we messed up and put in a 20,000 TOKEN limit instead of 20,000 DOLLARS. This resulted in many stakers failing to stake.
  • Hexa-decimal issue — Despite several rounds of intense testing, we failed to realize that the number of decimal points provisioned on the front-end could prevent users from staking properly which was unfortunately un-detectable on the test net. On hindsight, we realize that this sounds like a very elementary mistake but it is what is is and we have certainly learnt from this mistake.
  • Bonds issue — An extension to the above hexa-decimal issue, a mis-reading of the price oracle which unfortunately was also un-detectable in testnet resulted in users being unable to purchase bonds when board room opened. This was perhaps the stake in the coffin for the project.

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