Following Launch, Uwerx Redefines Resilience As It Unveils Game-Changing Hack-Recovery Tactics

In today’s world, new blockchain-based projects are launching daily. However, Uwerx stands out as it is committed to innovation in a robust niche, freelancing. One of its core principles is longevity which it displayed during its just-concluded presale. It initiated a liquidity lock on developers’ tokens and opted to renounce all smart contract ownerships after launch on centralized exchanges.

However, its longevity was recently tested in an exploit that occurred on August 2nd. How does Uwerx plan to advance amid the present challenge?

Buyers Enjoyed Up to 27.5% Bonus In The Just Concluded Uwerx Presale

The Uwerx presale ended with a bang on July 31st as last-minute buyers enjoyed an additional 15% bonus. The bonus was added to the previous 12.5% (making it 27.5%) to celebrate the success of the presale. The WERX token launched at a price of $0.05645. Meanwhile, the 5-phased presale attracted 2,037 Twitter followers and 2,280 members on Telegram.

In addition, the Uwerx platform already features some core functionalities. These features include the Application Preview, Chat System within job postings, Contract Preview, Message Search, Unlogged view for Agency, Freelancer, and Client, and Agency role selection.

Other completed pages are Settings, Help Center, Login, Create Account, Forgotten Password, Privacy Policy, Finished Payments, and Security Sections.

Furthermore, upcoming platform features will include Client Dashboard, Freelancer Dashboard, Agency Dashboard, Management of Ongoing Projects, and Additional Settings Pages. The developers will begin designing the premium elements of the Uwerx platform once the above features are fixed.

Conversely, the innovative Uwerx Vault is ready for audit approval, to the delight of the Uwerx community. 84% of the community has already indicated their interest in using the Vault to secure their funds while earning passively.

Uwerx unveiled its official launch on Uniswap on August 1st, 16:00 UTC. It also revealed a 3% sell tax, 1% burn and 2% marketing, and a scalable buy-back program. The buy-back was to occur weekly at undisclosed dates to discourage bad actors.

Finally, the Uwerx team fulfilled its promise of locking deployed liquidity for 25 years, as announced during the presale. It also reassured investors of its plan to renounce smart contract ownership after ensuring a smooth launch on CEX.

Uwerx Faces Post-Launch Crisis As It Loses $327K To Hacker

On August 2nd, crypto security platforms PeckShield Alert and CertiK Alert tweeted about an exploit on Uwerx’s Uniswap pool. According to security reports, the attacker exploited an imbalance that they created on the Uniswap pool.

They flash-loaned 20,000 ETH ($36,726,400) and exchanged it for 5,053,637 WERX tokens. Then, they sent back 4,429,817 WERX tokens (about 10 times the initial amount) to the Uniswap pool, causing an imbalance.

Afterward, they called on the skim() function of Uniswap using the 0x00…1 as the “to” address. This caused the token transfer to burn an extra 1% of the initial amount, resulting in an imbalance, which they exploited. Ultimately, the attacker made off with 176 ETH (around $327K).

Uwerx Prepares To Rally As Members Show Continued Support

Following the recent hack incident, the Uwerx community rallied behind the team as they worked round the clock to ensure a smooth and quick recovery. They ensured SolidProof, InterFi Network, and other crypto auditing platforms were contacted. They also offered the exploiter a white hat bounty, urging them to return 80% of the stolen funds and take 20% as a bounty reward.

Uwerx plans to relaunch its WERX token on Polygon as part of the recovery plan, using the liquidity intended for the buy-back scheme. The new WERX will be created on August 14th, while its details will be revealed on August 21st. It will also readjust its whitepaper, tokenomics, and scheduled airdrop to reflect the new changes. Meanwhile, the team will audit the token’s new contract address twice to ensure better security.

This decision was received with enthusiasm from the Uwerx community, while members were encouraged to send their opinions through the official feedback email, [email protected] Meanwhile, the design of the Uwerx platform remains uninterrupted as the developers plan to release new updates soon. In addition, the team has assured users of the safety of their WERX tokens bought during the presale.

Uwerx progressed remarkably due to the agile methodology adopted by its developers. They have also deployed this strategy as the project plans to reposition in time to offer massive gains to investors. Thus, Uwerx can still fulfill experts’ speculations of becoming the investment of the year.

Click the links below:

Website: https://www.uwerx.network

Telegram: https://t.me/uwerx_network

Twitter: https://twitter.com/uwerx_network

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