🤑 Notcoin's Major Failures
Notcoin is a controversial project with an interesting ideology and immense popularity, but it is managed by a small team that can't keep up with everything. As a result, there have been several notable failures over four and a half months of mining.
As Durov releases his third post about Notcoin, evaluating how many millions of dollars users have given him for free, let's review the most unpleasant bugs and controversial decisions made by the clicker team.
🪙 Voucher Issuance
On March 7, a Trade button was added to the bot, allowing users to issue vouchers for 10K or 100K Notcoins. This function worked for only half an hour due to a backlog of requests that Notcoin couldn't handle. The Trade button was repeatedly enabled and disabled. Minted vouchers entered the market in batches, with delays of several days, and some were lost permanently. For instance, one of our editors couldn't issue a 100K $NOT voucher, which seems to be lost forever 😁.
That night, there were only 600 vouchers on the market, some of which were for 100K $NOT. Due to limited supply and high demand, they were bought at high prices. For example, one 100K Notcoin voucher sold for $13,580, which is $0.1358 per token (current rate 0.025). Vouchers for 10K NOT also sold for tens of thousands of dollars. The floor price kept dropping as the Trade button was re-enabled. There were two or three failed attempts to restart the Trade function aside from the first one.
The official Notcoin channel stated that those who bought vouchers in the first stage would receive a significant bonus in the future. So far, there is no information on compensation, although Sasha Plotvinov mentioned in the May AMA sessions that it might happen "today or tomorrow."
P.S. While writing this post, Sasha announced that compensation of 40 million NOT would be sent out today.
⭐️ Telegram Premium Bug
One day, the bot developers decided to reward miners with an extra 3,000 NOT (post-denomination) for having Telegram Premium. It turned out that with a few manipulations, the bonus could be received multiple times. This coincided with the voucher minting period. A total of 4,000 vouchers were issued, crashing the minimum price by 2-3 times to 2 TON per 10,000 $NOT. At current rates, the damage would be estimated at a million dollars, but back then it was around $100,000. The quick profit mitigated the failure.
It was fortunate that this bug occurred during the mining phase. The team simply added the mistakenly issued vouchers to the total $NOT supply. If a similar bug occurred today, it could harm a real advertiser due to overspending. In general, such problems are unavoidable when asset distribution happens off-chain in the app interface.
🔥 Balance Burning
Notcoin promised a 2x bonus to those who donated to Pavel Durov, totaling over a billion NOT (post-denomination). Instead of printing more tokens, the team decided to burn bot farms. Using their tools, the bot team determined if someone used additional scripts while mining. If scripts were detected, trust factors like participation in meta-quests, community_bot tasks, and skin purchases could outweigh them. However, ordinary user accounts were also unfairly affected. Many such cases were confirmed in chats. You could fill out a form if your Notcoin balance was reset, but this issue is'https://t.me/not_support_chat/192220/203650' rel='nofollow'> no longer being considered.
Failures happen to all projects at any stage, but this is now a forgotten past. All these issues occurred during the mining era when mistakes were forgivable, as the team could mint any number of coins. After the $NOT mint, such errors will cost real tokens.
🚀 Now we eagerly await the release of the third phase beta, where we can fully farm $NOT with squads and all features.
ㅤ
❤️ Yours @notyou_en & @not_task_bot | #notcoin #bugs #fails
Notcoin is a controversial project with an interesting ideology and immense popularity, but it is managed by a small team that can't keep up with everything. As a result, there have been several notable failures over four and a half months of mining.
As Durov releases his third post about Notcoin, evaluating how many millions of dollars users have given him for free, let's review the most unpleasant bugs and controversial decisions made by the clicker team.
🪙 Voucher Issuance
On March 7, a Trade button was added to the bot, allowing users to issue vouchers for 10K or 100K Notcoins. This function worked for only half an hour due to a backlog of requests that Notcoin couldn't handle. The Trade button was repeatedly enabled and disabled. Minted vouchers entered the market in batches, with delays of several days, and some were lost permanently. For instance, one of our editors couldn't issue a 100K $NOT voucher, which seems to be lost forever 😁.
That night, there were only 600 vouchers on the market, some of which were for 100K $NOT. Due to limited supply and high demand, they were bought at high prices. For example, one 100K Notcoin voucher sold for $13,580, which is $0.1358 per token (current rate 0.025). Vouchers for 10K NOT also sold for tens of thousands of dollars. The floor price kept dropping as the Trade button was re-enabled. There were two or three failed attempts to restart the Trade function aside from the first one.
The official Notcoin channel stated that those who bought vouchers in the first stage would receive a significant bonus in the future. So far, there is no information on compensation, although Sasha Plotvinov mentioned in the May AMA sessions that it might happen "today or tomorrow."
P.S. While writing this post, Sasha announced that compensation of 40 million NOT would be sent out today.
⭐️ Telegram Premium Bug
One day, the bot developers decided to reward miners with an extra 3,000 NOT (post-denomination) for having Telegram Premium. It turned out that with a few manipulations, the bonus could be received multiple times. This coincided with the voucher minting period. A total of 4,000 vouchers were issued, crashing the minimum price by 2-3 times to 2 TON per 10,000 $NOT. At current rates, the damage would be estimated at a million dollars, but back then it was around $100,000. The quick profit mitigated the failure.
It was fortunate that this bug occurred during the mining phase. The team simply added the mistakenly issued vouchers to the total $NOT supply. If a similar bug occurred today, it could harm a real advertiser due to overspending. In general, such problems are unavoidable when asset distribution happens off-chain in the app interface.
🔥 Balance Burning
Notcoin promised a 2x bonus to those who donated to Pavel Durov, totaling over a billion NOT (post-denomination). Instead of printing more tokens, the team decided to burn bot farms. Using their tools, the bot team determined if someone used additional scripts while mining. If scripts were detected, trust factors like participation in meta-quests, community_bot tasks, and skin purchases could outweigh them. However, ordinary user accounts were also unfairly affected. Many such cases were confirmed in chats. You could fill out a form if your Notcoin balance was reset, but this issue is'https://t.me/not_support_chat/192220/203650' rel='nofollow'> no longer being considered.
Failures happen to all projects at any stage, but this is now a forgotten past. All these issues occurred during the mining era when mistakes were forgivable, as the team could mint any number of coins. After the $NOT mint, such errors will cost real tokens.
🚀 Now we eagerly await the release of the third phase beta, where we can fully farm $NOT with squads and all features.
ㅤ
❤️ Yours @notyou_en & @not_task_bot | #notcoin #bugs #fails