The post Uwerx Set To Get Back in the Game With Relaunch Date Announcement appeared first on Coinpedia Fintech News

Uwerx has been successful since its presale stages, where the tokens were continuously selling out, with the Werx price skyrocketing despite the bear market. It carried this success to its official launch on August 1, leaving everyone in awe of Uwerx’s increasing value. 

Uwerx continues to demonstrate excellence, persistence, and commitment to its cause despite the hack hurdle shortly after its launch. It has made tremendous progress towards ensuring the new WERX relaunch is as perfect as possible, and this article discusses the progress made so far. 

Developers Move To Launch Uwerx On Centralized Exchanges Following Its Successful Official Launch

Following Uwerx’s successful launch on August 1, its developers announced Uwerx’s moves post-launch. Uwerx deployed liquidity on Uniswap, just as stated before the launch. To further show Uwerx’s credibility, sustainability, and transparency, Uwerx’s developers began the 25-year liquidity lock on their tokens.   

They reiterate their plans to give up ownership of the smart contract immediately after Uwerx goes live on centralized exchanges. As such, they will submit applications to CoinMarketCap and CoinGecko. 

The development of the Uwerx platform is almost complete. The core functionality design is done and features major components of the platform. 

Certain sections of the Uwerx platform are also complete. They are Create Account, Security, Help Center, Login, Finished Payments, and Forgotten Password. The work towards completing the platform’s premium design is in motion. 

The team has made significant headway with the Minimum Viable Product (MVP) release, which is finally expected to launch on October 30, 2023. This means that the Uwerx community will very soon be able to see and use the Uwerx platform. After the MVP release, more designs will be added to the platform, focusing on Consultation, Project Catalog, and Voting. 

Uwerx’s Hack Hurdle

Shortly after its launch, Uwerx fell victim to a flash loan attack, resulting in a $327,000 loss. The attacker flash loaned 20,000 ETH (about $36.7 million) and converted it into 5,053,637 WERX tokens. 

They deposited a significant portion, 4,429,817 WERX, into the Uniswap pool, causing an imbalance. Using the Uniswap skim() function and the Uwerx transfer function, they exploited this imbalance to steal 176 ETH, equivalent to $327,000, by burning an extra 1% of WERX tokens.

Uwerx Sets to Become the Game Changer Again As Relaunch Date Nears

Uwerx’s steady effort to regain its position in the crypto market post-hack is beginning to pay off. After the hack, the developers made significant moves to ensure Uwerx was hackproof, so they decided to relaunch Uwerx. They have made tremendous progress, as the relaunch date is now in sight. 

The new WERX is set to launch on October 25, 2023, at 12:00 PM UTC, and the launch price is $0.056. As earlier stated, WERX will deploy on Polygon DEX, Quickswap. This will reduce gas fees for users and enable WERX holders to trade on the WERX platform without bridging.

There will be more liquidity for the new WERX using the sliding sell tax and the funds for the temporarily suspended buyback campaign. The sell tax commenced at 30% and will decrease to 0% throughout the ten-week vesting period. Also, the burn tax has been scrapped.  

The results of the new WERX and Uwerx Vault smart contracts submitted for audits are in. The new WERX contract address passed the audits by the independent and established auditors. However, the auditors highlighted some issues with the Uwerx Vault smart contract. The team has created a new WERX token smart contract to that effect.

While this looks like a lot of inconvenience, the team followed the tough path to ensure the highest security for the new WERX. The new WERX smart contract and the Vault smart contract have been submitted again for audits. WERX’s new contract address is 0x9b2CFE1608250BEA375c6199b474B402BaD920da.

As stated in the last announcement, the team has performed the test airdrop of the new WERX tokens to users’ receiving wallets. The first airdrop will happen shortly after the relaunch. It is important for you, as a WERX holder, to finalize your receiving wallet address on or before October 8 by 15:00 UTC. 

The developers have begun another token lock, which will last nine months. The liquidity lock started on September 6, 2023, and will end on June 6, 2024. Also, they have burned 25,499,071 WERX.

Despite the limited resources, Uwerx’s platform development is still ongoing. The MVP will be available by October 30. The team is done designing service integrations for LinkedIn, Trello, Asana, and Monday. They have also finalized designs for the Webinar and Course Creation sections.

The team hopes to complete all designs and functionalities within six months from the date of the MVP release. After the relaunch, they will continue adding and improving the platform’s designs to achieve Uwerx’s vision.  

The Uwerx website and whitepaper have been updated to reflect the recent changes. Uwerx is quickly getting back into the game and ready to become what it is known for; a game changer and revolutionary. The developers will intensify Uwerx’s marketing as the relaunch and MVP release draw near. 

Uwerx continues to overcome the hurdles and has shown the crypto market the benefits of consistency, grit, commitment, and persistence. No wonder its community continues to grow, with about 2,364 Telegram members and 2,084 Twitter followers. You can email them at [email protected] for clarifications or inquiries and [email protected] for opinions or feedback. 

This relaunch will birth a more secure Uwerx and a value-driven WERX ready to deliver gains to its holders.