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The Megath organization, lobscurun lolkchain, announced that it will restore the money that has been written after the first bridge to work after the establishment of Undd Mapata-USDM.
Key points:
- The Megaeth Group will refund all USDM domains after receiving operational failures during installation.
- A problem with signature-signature updates led to the system being unlocked earlier than originally planned, costing $400 million.
- The recovery of funds has been frozen until the review of the agreement, with a new link of USD USD
The announcement came yesterday, Thursday, through a post on the X program where the team acknowledged the mistakes that were made. “The update process seemed wrong and the expectations didn’t match our opening list of 1:1 Action for conversion on the mainnet,” Megaith’s account wrote.
Megath Project USDm pre-deposits placed after the crash
The Megaeth Group opened USDM before last Tuesday with an initial limit of $250 million. However, the implementation of the local control in the beginning, as the external helper helped to prevent the service from counting for an hour while the users were waiting for the booking services.
As soon as the platform went back to work, the $250 million limit was reached within minutes. Then the organization announced its intention to raise the payment amount to $ 1 billion, and other things are complicated.
At the time of the storage cap raising, multi-brand matching signing was available quickly and efficiently; Instead of asking for 3 to 4 credentials, the process was set to require all four. This dog allows the outside party to provide a 34 minute wait before the bridge is officially opened.
Accordingly, storage operations resumed earlier than planned and exceeded $400 million. For his part, Megath’s group tried to contain the problem by reducing the ceiling to $ 400 million, and then later, until you have to deal with $ 500 million. After all, the project exceeded its plans to raise the cap to a total of $1 billion.
The group also confirms after the event that it will refund all the money to the participants. The restoration agreement is being reviewed, and funds have been prepared to begin the review. The group said: “Donors’ contributions are never forgotten.”
Looking ahead, the group wants to reopen the USD-USDD link
Megath Project: A second layer system capable of processing 100,000 transactions per second
Megath is a new layer – a solution to the ethereum blockchain, designed to solve the speed of the hidden space, and is similar to networks as a foundation, and stumble.
Whereas the ethereun blockchain takes place about 30 times per second (TPGath Plgaence can take a possible 100,000 transactions per second with a fee of $0.01.
The project will also support the use of proof-of-concept systems and a communication system for calculating rests, and government users – who promise to get involved in the process.
Both are standard protocols that are expected to be implemented approximately 12 to 18 months after launch.
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