Important Update on SG Token
Summary
We will restore the SG ecosystem to its pre-incident state.
To achieve this, we will issue new SG tokens under a new contract. The new tokens will continue to use the same name, SocialGood, and ticker symbol, SG, on exchanges, without any changes.
The newly issued SG tokens will be allocated fairly to existing SG holders. Through this process, we will restore the system to its state prior to the incident.
Overview
We sincerely apologize for the delay and for any inconvenience this situation may have caused. We truly appreciate your patience and continued support during this time.
We would like to share our plan for SG going forward. Following the recent incident involving unauthorized access to the wallet used to manage the SG contract, we have decided to issue a new SG token under a new contract to ensure the security and stability of the ecosystem.
Token Reissuance Policy
The new SG tokens will be allocated based on balances recorded on the blockchain, with different ratios applied depending on the timing of those balances. Balances prior to the incident will be reissued at a 1:1 ratio to preserve fairness and continuity. Balances recorded after the incident will be reissued at a 55:1 ratio, reflecting the impact of the incident and ensuring appropriate redistribution.
Please note that this fixed swap rate will not apply to balances held on exchanges. The handling of exchange balances will be determined by the exchange, taking into account their internal trading conditions and other relevant factors. Please refer to official announcements from them for further details.
Schedule and Distribution
We plan to deploy the new SG tokens within this week. Following the deployment, the new SG tokens will be distributed sequentially to users’ wallets, with careful attention to accuracy and security throughout the process.
In parallel, withdrawal services within the SocialGood App will be resumed gradually after the distribution begins. We will proceed step by step to ensure system stability.
Additional Information
At this time, no action is required from users. Thank you again for your continued support, and we hope you continue to enjoy the SocialGood App.
Best Regards,
The SocialGood Team
Who we are
As a startup, SocialGood, Inc. has raised a total of 2.4 billion yen from venture capital and has given away more than $11 million in crypto to users.
🏢 Our Office
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📍Our Office location
Official Website: https://socialgood.inc/
Download for iOS: https://socialgoodapp.page.link/referral-ios
Download for Android: https://socialgoodapp.page.link/referral-android
Chrome Extension: https://chrome.google.com/webstore/detail/socialgood-crypto
Twitter: https://twitter.com/socialgood_inc
Facebook: https://www.facebook.com/socialgoodinc/
Discord: https://discord.gg/Fs7u5YtWkq
Disclaimer: The SocialGood (SG) token is a utility token. SG is not a security, just as real estate and gold are not securities. The description above does not refer to the nature of SG in any way. The appreciation/price increase of SG is not guaranteed. The Company is not responsible in any way for the fluctuation of the price of SG. The Company is not liable for any loss/damage/injury of customers in relation to SG. The description above is not intended to solicit investment. The description above is only for the purpose of providing general information for customers. The description above may change without prior notice and the Company is not responsible for the current description and for updating the description.
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The price of SocialGood (SG) will rise higher as everyone shops for what they want.
Join us now – with everyone’s combined efforts, we can all become millionaires together!
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The price of SocialGood (SG) will rise higher as everyone shops for what they want.
Join us now – with everyone’s combined efforts, we can all become millionaires together!
