Tamadoge has kickstarted the next era for its play-to-earn ecosystem, announcing the accelerated launch of its $TAMA V2 token on the Polygon network.
The strategic move comes in the wake of a recent hack that targeted the project’s liquidity pool. This has prompted a swift and decisive response from the Tamadoge team, revealing the upcoming secret plan of migrating to a V2 token.
This decision addresses immediate security concerns while alluding to a possible roadmap update.
The Huge Upside of Upgrading to Polygon
Tamadoge’s transition to Polygon marks a pivotal moment in its roadmap. In response to the unfortunate hack, the team is not just moving to a new network but also replacing the existing ERC-20 token entirely.
A move to Polygon was originally planned to be announced after delivery of the Tamadoge Pursuit game via a bridge, marking the end of the current phase of the roadmap. However, the game will instead be delivered after launching the V2 token, which is now the main priority for reasons of security and improved user experience.
Polygon operates as a Layer 2 scaling solution or sidechain, functioning in parallel with the Ethereum blockchain. This setup facilitates rapid transactions and minimal fees, making it perfectly suited for gaming applications. Additionally, it capitalizes on the liquidity and robust security framework of the Ethereum blockchain.
Consequently, the transition from Ethereum to Polygon represents a transformative shift for $TAMA V2 users, significantly enhancing their gaming experience by combining speed, efficiency, and security.
How the $TAMA V2 Migration Process Works
To ensure a hassle-free transition for its user base, the Tamadoge team has laid out four steps to seamlessly switch all holders to V2.
- Deployment of the New Token Contract:
The team will deploy an upgraded Polygon contract with additional security features, including blacklist and pause functions, to provide a safer experience for the Tamadoge community moving forward.
2. Staking Contract Upgrade:
Next, the Staking Contract will be upgraded. All staking balances and associated rewards will be carried over to the new contract on Polygon. Users will need to simply connect their wallets to view their staked tokens after the switch.
3. Conversion on Centralised and DeFi Holders:
For those holding tokens on centralized exchanges, there will be an automatic conversion to the new token. Concurrently, DeFi and Non-Custodial holders will receive an airdrop of the new token, ensuring a smooth transition for all.
4. Liquidity Pool Addition and Trading Access:
Finally, alongside the Airdrop and CEX transition, the liquidity pool will be restored on Polygon, creating a tradable pair that matches the pre-hack V1 price. This will ensure that everyone gains trading access simultaneously.
Addressing the Hack – A Safer More Secure TAMA
The Tamadoge project faced a significant challenge when its developer wallet was targeted in a coordinated attack.
When the hackers exploited a contract vulnerability to access the Tamadoge liquidity pool, the team acted swiftly to limit the hack’s scope.
This was done by removing liquidity from decentralized exchanges and working with exchange partners to halt trading temporarily. Additionally, the staking and token pages on the Tamadoge website were also disabled as a precaution.
A thorough investigation is being conducted to understand the hack’s root cause.
Due to this incident, previously unannounced project plans are now being accelerated in order to enhance security and functionality.
Tamadoge’s New Future on Polygon is Bright
As Tamadoge embarks on its new journey with Polygon, there’s palpable excitement within the community, fueled by the team hinting at additional steps in the roadmap.
The community is abuzz with speculation: What new features and expansions will Tamadoge introduce? How will this transition shape the future of the ecosystem? These questions mark an exciting phase of anticipation and potential for Tamadoge.
The decision to postpone the release of the Tamadoge Pursuit game, while initially met with disappointment, is now seen in a new light. This pause is viewed as a strategic step, allowing the team to fully leverage the benefits of the Polygon network and integrate these into the gaming experience.
The anticipation for the game has only grown, as users look forward to an even more enhanced, seamless, and engaging play-to-earn experience on the Polygon platform.
There are many benefits of the Polygon chain for the Tamadoge ecosystem. It opens a realm of new possibilities where users can now look forward to significantly lower transaction fees.
Faster transaction speeds on Polygon mean a smoother, more responsive gaming experience, which is crucial for real-time play-to-earn games. Moreover, the integration with Polygon’s staking contract is set to offer more rewarding experiences for players.
Integral to the migration is a heightened focus on security. Polygon network’s robust architecture offers enhanced security features, which are crucial in protecting users’ assets and ensuring the integrity of the play-to-earn ecosystem.
This transition to a more secure environment reflects Tamadoge’s unwavering commitment to safeguarding its community and fortifying trust among its users.
Poised to redefine the play-to-earn landscape, the future of Tamadoge on Polygon is shaping up to be a thrilling chapter in the project’s story. Its latest strategic pivot is, therefore, a testament to Tamadoge’s resilience, adaptability, and dedication to delivering an exceptional and secure gaming experience to its community.