🍿 @MegaETH: PURE CINEMA 🍿

They won't be increasing caps to 1B anymore. What happened?

1. Pre-deposit campaign was scheduled for today, 9AM

2. Maximum deposit amount was 250M

3. At 9AM, website crashed and nothing worked for around 1 hour

4. When it started working, 250M caps were filled in 3 minutes

5. The team announced a cap increase to 1B

6. People started complaining, team clarified that first wave depositors would not be affected (i.e. you can infer their yield won't be dilluted)

And this is when it gets interesting:

7. In preparation for the 1B cap increase, they queued the setCap transaction in their multi signature

8. But they made a mistake and signed it 4/4, so it was ready to be executed trustlessly by anyone. They should have kept it 3/4

9. So @chud_eth went in and executed the cap increase 34 minutes before it was supposed to be live

10. People started depositing

11. The team queued another tx to cap it at 400M

12. But it was already at +400M, so they had to cancel and build a new transaction to cap at 500M

13. They executed and capped it at 500M

14. Cap reached

15. 1b cap increase tx queued again in the multi sig, but....

15. Now they just said they won't be a 1b cap increase

TBH, insane ride

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