The Plan for Retro World Moving Forward

The last 24 hours have been an eventful period for the Retro World Ecosystem. We saw the genesis launch and listing event of our Farming and Staking platform live on Mainnet. However, several issues caused a net negative outcome for the communities initial usage of the platform:

Notable Issues

1. Sync delay/read of wallet balances for Farming/Staking
2. legacy routing to PCS V1 requiring migration action to PCS V2
3. Adverse market conditions causing heavy sell side pressure on the Retro Token
4. Unclear listing and farming time announcements
5. Invalid FUD from RUGDOC Group about Rescue Code in Masterchef
6. General UI updates (Links, Button Config, other)

Resolution Process

1. Updated the back-end code synchronise wallet detection for both LP Tokens in wallet and Retro/Gold
2. Removal of the PCS V1 routing for the farming LP’s to strictly PCS V2 for all current and future LP Farm’s
3. We have been negatively effected by sell-off of the lead token (Retro) and the net-outcome is a base liquidity shortage. Hence, we have taken the decision to close all farming, staking and trading of both Retro and Gold.

We will then re-open the public sale with a renewed push in regard to marketing and outreach. The price of the public sale will be adjusted to reflect current market conditions*

After talks with Certik, we have been notified that our completed Audit Review will be ready within the next 7–10 days. After we receive this report, we will publish it alongside Certik at Certik.org

The public sale will then be closed and the pairs for RETRO/BNB and GOLD/BNB will be relisted — RETRO’s price will be adjusted to the closing price at the final day of the public round sale.

GOLD will be listed at the closing price of our last snapshot 0.07 USD

We hope to be able to provide a much deeper liquidity pool to RETRO alongside further utility cases that we will be working on during this renewed pre-launch period.

4. The handling of the launch was not organised in an optimal manner. Many community members missed the announcement or became aware of the launch after the sell-off. Leading to a dual-negative effect. The realised loss in value of their token holdings & the missed opportunity to farm the high APR’s on the platform.

Hence, before this re-launch event, we will provide a clear time & date on all platforms (Medium, Twitter, Telegram) alongside a UTC countdown clock.

5. We experienced FUD from RUGDOC an invalidated source of review via our telegram due to the presence of a rescue function in our Masterchef. In development, we implemented this code to protect farmers and inexperienced users who mistakingly sent the wrong token to the Masterchef. Allowing the lead deployer wallet to withdraw these and return them to the sender address. Hence, the code is of no severity and this has primarily been verified by our first Audit with Techrate.

However, as part of our onboarding with Certik and in the interest of maintaining our communities trust, we will re-deploy our Masterchef contract and transfer the ownership to a Time-Lock contract. This will mean that there is a 24-hour delay for any given action carried out on-chain and the community verify this on-chain.

6. In the down-time before our re-launch we will re-compile and review all points raised from the community about connectivity and UX issues. These will be rigorously tested and amended. We will also be adding additional farming pairs in the downtime including the RETRO/GOLD pair.

The NFT platform will also be live before the re-launch, allowing you to purchase our unique NFT’s with your GOLD rewards from farming.

Please note that the R-Vaults for LP Token maximisation will remain open and you can earn boosted rewards on 14 different tokens including stable coins at

vaults.retroworld.io

We hope that the re-launch will provide a much fairer and smooth experience for our valued community.

Actions that we require from the Community

1. The removal of all LP’s from our farms
2. The removal of all staked native tokens from the platform
3. Refrain from buying/selling Retro or Gold until the Re-List event as people will be removing LP and it will cause IL
4. Continued support as we carry on down the development roadmap to ensure Retro World is a huge success

📢 Follow RetroWorld for the latest updates

Website: https://RetroWorld.io
Telegram Announcement: https://t.me/RetroWorldAnn
Telegram Community: https://t.me/RetroWorldGlobal
Twitter: https://twitter.com/RetroWorldDefi