Changing of the GUARD
GDM is becoming GUARD
Due to the discovery of a vulnerability in the original Guardium (GDM) blockchain contract, we will be issuing a new NEP-5 token via a revised contract. We will be swapping out your old Guardium tokens for new ones in a 1:1 exchange via an airdrop.
Our existing ticker symbol GDM will be deprecated and replaced by GUARD. You will thus easily be able to tell the difference between "old Guardium tokens" (GDM) and "new Guardium tokens" (GUARD) as for a time they will both appear in popular NEO wallets.
This vulnerability affects many NEP-5 (NEO) tokens and is not isolated to Guardium. The vulnerability originated in sample contract code that many NEP-5 tokens are based on. We are not the first project replacing tokens and we likely won't be the last however we may be the first team being this transparent about the issue.
Very succinctly, the contract had vulnerabilities that facilitated the burning of one's own tokens through somewhat obscure means. No new tokens could be generated or "stolen" and it appears as though this vulnerability was never exploited "in-the-wild" however to be responsible we've decided to take this step.
So How Bad Is It?
It’s pretty minor. But many parties, including exchanges, demand 100% perfect token contracts. They expect that any vulnerabilities, however minor, be fixed. We agree, so we are fixing it and a new contract hash and token re-issuance is the only way to do that.
What Do I Have To Do?
Nothing at all, except to refrain from Guardium transactions during the switchover freeze period of...
August 13th 2018 @ 7:00 AM (UTC) - August 16th 2018 @ 7:00 AM (UTC)
We've already coordinated with major NEO wallets and GUARD support will be included in future revisions.
On August 13th we will announce the start of the token swap on our Telegram Channel. At this point, you should refrain from any Guardium transactions. We will snapshot the GDM blockchain. We will then distribute new GUARD tokens on a 1-for-1 basis to any wallet address that is currently holding GDM.
This will complete the token swap. We will announce the completion of a successful switchover on Telegram channel and give the "all clear" for GUARD transactions to resume.
What happens if I send a transaction after the snapshot or during the switchover?
Not a lot. The transaction will be like it never happened. You’ll simply have to send it again using GUARD, that’s all.
What If I have More Questions?
Join our Telegram Channel and ask us there Guardium Telegram