I would like to thank all the community for your feedback and suggestions that were posted in the Google form. We have received hundreds of replies, many of which express their support. We are listening and taking into consideration your suggestions.
I am disheartened by the recent events, and I empathize with your sentiments and concerns. The course of the last week has been a very rough ride for all of us, so I can appreciate just how you must be feeling. As you can imagine, the last thing we wanted to do was to revoke our listing request, but given the concerns raised by the community with regards to the contract, we felt it necessary to do so. We are now working fervently on a new contract. We have chosen to address your contract concerns before listing, as after listing technical changes would have been much more difficult.
I acknowledge some things haven’t worked out the way we had hoped. This journey requires for us to make decisions, and as with any decision there are risks, we always endeavor to make decisions that present the least risk to our stakeholders.
The team are currently working on an updated smart contract that removes the minting and transfer controls. The transfer revoking ability in the contract was placed there to allow us to rectify any transfer mistakes we may have made during distribution. We used this function to help numerous token holders who had their wallets compromised, by moving their tokens to a new wallet - again to protect the community at large. The minting ability was in place to allow us to facilitate a token split, for which a function exists in the current contract. We wanted to have the ability to facilitate a token split in the event that demand for our token would make running software in our ecosystem prohibitively expensive, or erode the staking deterrence. The solution, at that time, seemed to be to provide a token splitting and reverse token splitting function and mitigate this risk, this necessitated a minting function. At no point did we intend, nor has the function ever been used in any other capacity. However, we have heard the community's concerns with regards to these functions, and are working on an updated smart contract that will remove these capabilities. We expect to send this contract to an auditor by the end of this week, and facilitate a token swap once approved by the auditor. Exchange listings and our buyback program will follow from this process. Keep an eye on our announcement channel at https://t.me/SparksterNews
There have been things that were said in the private admin group, that I find both abhorrent and unacceptable. I can empathize how they have made you feel and I apologize sincerely for this. We are putting in measures to ensure this does not reoccur. Many of you know that the last year has been emotionally taxing, both on token holders and the team. Some things have been said in the heat of the moment, out of frustration for which we are all regretful. Our intentions have always been to do the best we can for the community. An example is the OTC group that we considered opening. Given that people wanted to leave the ecosystem, we considered opening an OTC channel and acting as an escrow intermediary. Certain members of our community raised concerns about the impact this would have on the rest of the token holders, and therefore we decided to retract on this.