HumidiFi’s WET token sale faced severe bot sniping, with a farm of automated wallets purchasing the entire supply in seconds, undermining fair distribution on Solana. The project raised $1.39 million but will relaunch with a new token to ensure equitable access for DeFi users.
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Bot farm dominance: Automated purchases ended the IDO within minutes, bypassing protections on Jupiter’s platform.
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Impact on community: Point farmers and Solana DeFi veterans missed participation, leading to a discontinued token version.
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Raised funds and valuation: The event secured $1.39M in USDC at a $69M valuation, despite the sniping issue.
Discover how HumidiFi’s WET token sale bot sniping disrupted Solana’s DEX landscape and the upcoming relaunch for fair access. Stay informed on crypto presales. Read more now!
What Happened in the HumidiFi WET Token Sale?
HumidiFi WET token sale encountered significant challenges when a bot farm sniped the entire allocation in mere seconds during the initial DEX offering on Solana. The automated market maker, leveraging Jupiter’s platform, aimed for broad distribution but saw connected wallets front-run legitimate buyers across three eligibility groups. As a result, the team announced a new token launch to rectify the unfair outcome and reward community participants.
How Did Bot Sniping Affect the WET Token Distribution?
The HumidiFi WET token sale bot sniping incident highlighted vulnerabilities in Solana’s DeFi ecosystem, where a network of funded wallets executed rapid purchases, depleting the 60 million token tranche instantly. According to the HumidiFi team, shared via their official X account, “a bot farm sniped the entire supply instantly and veterans were not able to participate.” This front-running not only excluded point farmers and long-time Solana users but also potentially funneled tokens to a single whale, contrary to the project’s democratic goals.
Data from the event shows the presale concluded with $1.39 million raised in USDC, achieving a $69 million valuation based on the initial pricing. The structure included one primary tranche of 60 million tokens, followed by 20 million each for Jupiter stakers and public buyers. However, insufficient bot defenses on Jupiter’s platform allowed the sniping, leaving acquired tokens potentially devalued as the original WET version faces discontinuation.
Pre-market trading reflected the hype and subsequent fallout: WET reached $0.25 before dropping to $0.15 amid lower volumes. The team has not detailed refunds for sniped deposits, emphasizing instead a fresh start with enhanced measures. This approach underscores ongoing issues in DEX launches, where automation exploits delays in transaction processing on high-speed chains like Solana.
WET tokens rallied in pre-market trading, but fell again after HumidiFi announced the tokens had been sniped, and there would be another presale. | Source: Whales Market.Originally set for distribution on December 9, the token generation event now faces delays due to the relaunch. Tokens were slated for immediate unlocking and listing on platforms like Meteora DEX and MEXC exchange, but the bot interference has shifted priorities. No competing assets share the WET ticker yet, providing a clean slate for the updated version.
Frequently Asked Questions
What Is the Reason Behind HumidiFi’s Decision to Launch a New WET Token?
HumidiFi is launching a new WET token after the original sale was compromised by bot sniping, which prevented fair participation from Solana DeFi users and point farmers. The relaunch uses a revised smart contract to allow claims by eligible community members, ensuring a more equitable distribution without refunds for the initial sniped tokens.
How Does HumidiFi’s Platform Prevent Future Bot Sniping in Token Sales?
HumidiFi’s automated market maker on Solana focuses on dark liquidity pools to minimize visibility and reduce front-running risks for retail traders. By keeping volumes and fees non-transparent initially, it aims to deter bots that rely on public order data, though the recent IDO exposed needs for stronger wallet filtering in partnerships like Jupiter.
Key Takeaways
- Bot vulnerabilities persist: Even structured IDOs on Solana can fall to automated farms, sniping supplies in seconds and excluding genuine participants.
- Community protection prioritized: HumidiFi’s response includes a full token relaunch, enabling claims for previous DeFi contributors to maintain trust.
- Market impact observed: Pre-market WET prices fluctuated from $0.25 to $0.15, signaling volatility risks in hyped launches amid distribution failures.
Conclusion
The HumidiFi WET token sale bot sniping episode reveals critical challenges in achieving fair launches within Solana’s fast-paced DeFi environment, where automation often outpaces protections. By discontinuing the affected tokens and introducing a new version with targeted claims for veterans, HumidiFi demonstrates commitment to equitable access and dark liquidity innovations. As the ecosystem evolves, projects must bolster defenses against such exploits—investors should monitor the upcoming presale for renewed opportunities in this promising automated market maker.
