State of the Union
Back in 2021 a part of our ORAO presale tokens were issued through DaoMaker’s launchpad. TGE event was successful however immediately after the issuance event we started getting hundreds of support requests from DaoMaker’s customers asking us to allow them to claim the tokens from DaoMaker — which we had absolutely no control over.
We transferred the token control for the presale to DaoMaker on time and the rest was up to them for the TGE event. After a day or two, DaoMaker’s customers were finally able to claim ORAO tokens from DaoMaker launchpad after they fixed issues in their backend system(s).
We continued developing based on our roadmap — data agnostic oracles based on Polkadot utilizing their parachain infrastructure to deliver data cross-chain.
Throughout the next 16 months we focused all of our resources to develop for Polkadot and the ecosystem surrounding it. We met great teams and great tech in that ecosystem.
However, the way Polkadot was organized back then was that developer relations agents were assigned to specific teams. DeFi teams had more than 4 devrels, oracles teams had 2 devrels.
This resulted in getting tech support every 2–3 months through Google meetings only to get an answer that a certain parachain functionality or SDK framework will be deprecated or implemented at a later date.
We went through all the major parachain auctioneers like Binance, Bitfinex and such only to understand that 2 weeks prior to announced parachain auction they didn’t even have a frontend to post a bid.
Somewhere around August 2022 we decided, with a lot of other teams, to completely drop Polkadot support and focus on our own infrastructure and data delivery cross-chain. We had to start almost from scratch.
During that same year, a market maker named TokenMania which was pushed by DaoMaker to their Launchpad clients had stolen funds from many listed exchanges. The market maker had team accounts on different CEXes alongside API keys. These API keys did not allow them to withdraw the funds however they did purchase different cryptos such as BTC and did a direct orderbook sale to their own account which they were able to withdraw from.
We believe over 3M USDT/C worth of crypto has been stolen by this market maker — TokenMania, 600k of our own liquidity. This theft made significant damage to at least 6 projects launched through DaoMaker.
Later that winter in December of 2022 we built the first VRF for Solana, presented it to their team and waited for the Solana mainnet to enable ed25519 on-chain signatures.
Instead of January 2023, we had to wait for late March 2023 for Solana Mainnet to be upgraded by all stakeholders. Finally we were able to present our first mainnet product at a Solana Breakpoint event in June of 2023 which we wrote about on Medium.
During that time we didn’t stop developing our oracle infrastructure. We developed native EVM oracles, 30,000 crypto market database, we partnered up with upcoming L2s like Fuel Network, developed native NEAR and Aurora oracles and proceeded doing bizdev with active teams in all of these ecosystems.
To this day, we served over 60k requests to Solana mainnet over three VRF contracts.
Several months ago (2024), our Liquidity Pool on Uniswap, which was controlled by DaoMaker had it’s liquidity completely removed by DaoMaker. We tried to contact them but to no avail — we never got a response from DaoMaker or even the ability to buy LP from them. All of our contact requests resulted in no response and, as we learned, most of the people who worked there told us they quit working with DaoMaker and are not associated with them in any way, shape or form.
Recently, DaoMaker moved 26M of ORAO tokens to Gate.io CEX.
As a result of such behaviour we are considering to do a 1:1 token swap in order to remove such liquidity.
We’ve finally launched our new website and finished the first phase of our new oracle infrastructure. Instead of relying on older code, we decided to completely rewrite our node codebase to deliver the most accurate, up to date and affordable data-agnostic oracles. On-chain and CEX pricing alongside offchain real world asset pricing.
To be continued…
