Community Update on platform upgrade and audits The audit by | Phantasma Chain Announcements

Community Update on platform upgrade and audits

The audit by Hacken is scheduled to be completed by the end of this week after taking longer than initially estimated. The auditors have prioritized quality and security and have also been surprised by how ambitious and complex the Phantasma blockchain is. This unfortunately has led to what will be a delay in resuming mainnet transactions. The ongoing string of blockchain related hacks and exploits keeps emphasizing the importance of a strict focus on security. We sincerely apologize for the continued inconvenience, and the full team is doing everything possible to get through this faster while making sure Phantasma is secure.

In parallel with the effort to complete the new blockchain explorer, the new wallets and the ongoing DEX development, our developer team has been working based on preliminary reports and status updates from Hacken. Within a week after the completion of the audit of the blockchain, a final report will be generated by Hacken detailing the findings and any issues that need to be resolved. We will then know the full effort and time required to resolve the issues and can forecast an accurate date for completing the audit, implementing the upgrade, and resuming transactions.

The current estimate is that we will be able to complete the entire process and resume transactions at the end of September. Starting in the next couple of weeks, frequent updates will be shared showing our developer team’s progress completing all tasks generated by the audit, enabling the community to follow the process more closely.


What we are working on now to prepare for the relaunch:

Actively addressing issues the auditors have already made us aware of

Completing the DEX - We are in the final stages of testing and making tweaks to the tokenomics. Ongoing discussions relate to the importance of SOUL and KCAL for DEX operations and how best to maximize the utility of our platform’s native assets, as well as liquidity provider incentivization and rewards distribution.

Actively hiring and onboarding new team members across engineering, business development, marketing, and management.

Wallets are now complete and ready to be deployed with the implementation of the chain upgrade

The Ledger Wallet application development is now complete along with its companion application and documentation, time of release for the Ledger integration will depend on Ledger’s internal review process

Developer journey - We are actively working on initiatives to make it much easier for developers to integrate with Phantasma

With the improvements to the technological foundation through core blockchain upgrades, the powerful explorer, DEX and entirely new wallets, Phantasma is entering its next phase. Together with the efforts to expand the team with high calibre talent and improvements to the developer journey, Phantasma will be in a position to rapidly grow the ecosystem and its adoption at a scale that would not have been possible mere months ago.

The foundation is being laid to propel Phantasma to the next level