According to the policy of the Super Rare Ball Share project and the announcement from the KuCoin exchange, where ONUS takes trading liquidity for 02 RBS and SRBS assets: RBS token will be converted to RBP, SRBS token will be converted to SRBP.
The conversion needs to go through some specific steps, but during the conversion process, ONUS encountered some problems leading to errors. As follows:
1. In accordance with the policy:
The number of tokens that users own before 22:10 on July 3, 2022 (UTC) will automatically be converted at the rate of 1 RBS = 1 RBP and 1 SRBS = 1 SRBP.
The number of tokens owned by users from 22:10 on July 3, 2022 (UTC) to 00:00 on July 5, 2022 (UTC) will be bought back by the Super Rare Ball Share project. The project refunds VNDC to users at the average exchange rate during the above period. Specifically, the exchange rate is 1 RBS = 743 VNDC and 1 SRBS = 9,672 VNDC.
2. Actual events (Conversion error from ONUS)
Due to some problems in the implementation process, ONUS has not performed the aforementioned steps correctly. Specifically:
- ONUS converted all users’ RBS and SRBS balances into RBP and SRBP respectively at a ratio of 1:1 (including the amount of RBS and SRBS customers purchased during 22:10 on July 3, 2022 (UTC) to 00:00 on July 5, 2022 (UTC); this amount was originally used to buy back and refund VNDC).
- ONUS opened exchange transactions for RBP and SRBP from 8:00 to 10:16 UTC on July 22. As such, ONUS has improperly processed according to KuCoin policy the customer who made transactions with this balance of RBP and SRBP (this is the balance that came from an error conversion and ONUS needs to undo these transactions).
3. Solution from ONUS
- ONUS will proceed to undo all RBP and SRBP conversions between 8:00 and 10:16 on July 22. Please maintain the corresponding balance if you make the above transaction.
- ONUS re-converts RBS and SRBS into RBP and SRBP in accordance with the policy of KuCoin and the project side; and send the corresponding amount of VNDC to the user.
- ONUS will reopen exchange transactions for RBP and SRBP at 13:00 UTC on July 23.