June 30, 2021, Malta – The emerging Polkadot blockchain-based online poker game, Polker has recently launched its native PKR token on some of the leading decentralized exchange platforms on multiple blockchains. The launch exercise included listing on Uniswap, PancakeSwap and JustSwap, followed by an IDO on Binance Smart Chain’s BSCPAD and Tronpad on Tron blockchain. Followed by the successful listing of PKR, Polker has announced the project’s plans to introduced token buyback, token burn and airdrop programs.
While the listing event was largely successful, Polker hit a small snag that resulted in opportunistic buying of over 1.745 million PKR tokens by a single address. The event, primarily focused on the project’s Uniswap V3 pool occurred soon after Polker team started adding liquidity to the DEX pools. All the tokens acquired during the opportunistic buying spree were soon moved across PKR’s ETH-BSC bridge and sold in the PancakeSwap liquidity pool. As a consequence, the value of PKR surged by over 1600% for a short period of time, before stabilizing and falling back to the IDO levels.
According to Polker, the failure to mitigate opportunistic buying by sniping bots occurred due to a failure on part of the ETH-BSC bridge provider. While the provider was instructed to close the bridge for a duration of 30 minutes while adding liquidity to the pools, it was not secured as expected, giving an opportunity for external actors to benefit from it through a well-coordinated dump on PKR’s most liquid market—PancakeSwap.
Soon after the incident, a security audit was carried out to rule out any insider participation and as expected, the results have shown absolutely no involvement by any of the project participants. Meanwhile, Polker has actively engaged in removing shillers and fudders to ensure fair participation and privileges to token holders and potential buyers.
Polker apologizes for the incident and vows to ensure stringent security norms in the future to protect the community’s interests.
Under development for over 4 years, Polker is on the verge of launching its first decentralized online poker game. The closed beta is scheduled to go live in July.
About Polker
Polker is the first blockchain-based online poker game that uses Unreal Engine 4 to offer immersive and powerful gameplay. The platform implements a provably fair system for transparent gameplay. Unlike other blockchain gambling platforms, gamers on the Polker ecosystem can place bets using a range of cryptocurrencies without having to convert them to a single-supported cryptocurrency standard.
While PKR is the utility token on Polker ecosystem, it is not a prerequisite for users to hold PKR in order to enjoy themselves on the platform.
Learn more about Polker at – https://www.polker.io/
Follow Polker on Twitter at – https://twitter.com/POLKER_PKR
Join the Polker Telegram community – https://t.me/polkercrew
Polker on Facebook – https://www.facebook.com/PolkerPKR
Read more about Polker on Medium at – https://polker-pkr.medium.com/
Media Contact
hello@polker.io
