Alvin and the Dripp-ocalypse

People now need to do additional research to understand that you had nothing to do with agave and your mistake is not reflected in the work of the agave team - and the project is about to launch.

Your apologies ought to have financial responsibilities and public accountability associated with them. So that you take ownership over the security lapse of your private key, and the inclusion of the minting permissions in a fixed supply token.

It is generous and necessary for 1hive to cover for you now to preserve integrity in narrative for the upcoming projects, and is not an indicator of demand for dripp v2.

The damage of a rug pull burn in defi is an area effect warning flag. The security lapse of your private keys and the inclusion of the mint function is a textbook rug pull, and you or your social group are the most likely actors under suspicion, given the exploit.

To potential / uninformed investors in agave and honeyswap farms - this is an indicator of a lack of security and competence, which increases the risk of supporting these projects - right before their launch.

By not covering these costs and owning these mistakes yourself, you are forcing 1hive to benevolently indicate by its actions that you were a casualty of inexperience in a decentralized community and that the ecosystem is mature enough to where it can make good on failures (that are not even canonical).

The issue here is the cost of repaying the liquidity for the exploit and the public responsibility of the mistake - in a way that does not allow any fallback onto 1hive or agave.

Your shoulders ought to handle those responsibilities.

So if 1hive wants to have successful launches - covering your liquidity damages is putting out a PR fire and signaling that your work is not reflective of the security of the other projects in the ecosystem.

My opinion is that resolving these issues ought to be your focus, if you want to regain trust for v2.


Oh… I see… the announcement was made in their own server?

I think asking for Shenanigan to give 1hive 5% of the max supply is a bit over the top. I don’t think Cred is the way to do this.

I actually take problems with the “wash your hands approach”.

I was endorsed by Buzzdao to build, however I never got any resources from them. I couldn’t even get them to write a proposal.

It’s entirely my fault the key was compromised. It’s not entirely my fault that we are here

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  1. ALVIN damaged agave. What will you do to solve that reputation slight and accept responsibility for your mistakes so they do not spill into other 1hive projects currently in need of positive speculative assessment?

  2. ALVIN believers invested 10k worth of liquidity into your project. How will you reimburse due to this security failure derived from your private keys and the code in your token contracts?

This thread exists to respond to address these issues because they have not yet been adequately addressed.

If you had covered the losses and accepted total responsibility. I think people would respect your response.

These are the concerns on the table Atm.


Going to be adding my 2 cents here since it’s the best to hear it from the horses mouth then assume what happened. I will lay it out in detail so 1Hive can evaluate it with a full scope seeing as BuzzDAO has been brought up alot.

Shenanigan 1Hive Collab

@YoungKidWarrior posted on the forum about a HNY socks collab between Shenanigan DAO and 1Hive DAO, then the idea got a bit more traction in this post and then the final proposal which the 1Hive community funded and agreed upon here.

Please note that this was funded by 1Hive as whole not just BuzzDAO(Proposal 131).

BuzzDAOs involvement

BuzzDAO set out to help achieve this goal with the Shenanigan team and help them bring their idea to life. We met multiple times with Victor in order to come up with something that 1Hive would enjoy and be interested in.

What was the intention for this collab?

Bring more exposure and expand 1Hives ecosystem while creating something fun and enjoyable.

What role did BuzzDAO play in this process?

  1. We reached out to the community and found that the ideal item that everyone would be excited about would be a plushie.
  2. We were responsible for the design of the plushie which we made a rough draft for then paid a pro designer to create it for us.
  3. We were given the initial 50 ALVIN by YoungKidWarrior to create the liquidity pool on Honeyswap with our BuzzDAO multi sig wallet.

I hope all of 1Hive understands that the intent for this collab along with everyone we do partner with is ALWAYS ment to be positive and to better 1Hive. I am deeply sorry that 1Hive members have been effected by this and we will work on trying to come to a resolution.

I would like to explore this further as it really plays a major role on the whole brand of 1Hive and what it means to be decentralized. We have promoted various things that have not undergone any formal level of testing so if we could establish a decentralized way to verify projects i would fully support it.


Would you be open to championing this, essentially collecting feedback from various devs in the community, and creating/documenting a set of practices for development related swarms to follow?

While it didn’t happen with this particular project, other projects have had audits, public testing, multiple code reviews prior to launch, but having some formal process and expectations I think would be really useful and help everyone.


Do you think something like this could help communicate the existing list of endorsed projects?
Once perfected, it could be embedded in the Welcome page on the wiki so as to clearly communicate DAO projects upon landing.


No one in BuzzDAO is a developer, so I’m not sure what help you wanted from them so that the coins you coded wouldn’t be classic rug pulls.

You represented that coding/forking the farms and NFTs was something you had done, could do, wasn’t difficult, and would be absolutely no problem.

You even lied and said you’d tested the code before your first failed deployment attempt.
It’s all the lying, really, as much as your cavalier attitude about other people’s money and your protracted refusal to accept responsibility and apologize.

Edited for clarity and typos.

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I can’t respond to someone who is just making up blatantly false narratives.

I’m not sure you understand what rug pull means.

not 5% of supply. Proposal is 5% of sourcecred payout each week same as we give to source cred. It’s not retro active

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Luke, great I do not mind kick starting this. I may be a little slow as I am not full time on this but will chip away at this. Also twells has offered to help which is great. I think I will start first my making a list of devs that I will need to have a chat with and then come up with a set of questions that would allow me to pool data to put together a draft and then move it forwards! Will set up a forum thread and try to post progress when I get to a point where it is reportable.


How can we know that the person who “accidentally” compromised the contract key is not the same person who stole all the value? Anyone made some chain analysis? I mean this is a common rugpull practice after all.

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I was studying the OUSD (Origin Protocol USD) hacking accident for this suggestion. If you want to know how the hacking is going on can be seen here.

In the latest edit of the article, they offer a compensation in a form of new OUSD and OGN token. I wonder if Shenanigan’s team could do compensations to legit addresses just like what Origin Protocol regarding to the ALVIN hacking. Since Alvin have underlying assets which are the Alvin plushie and NFT related with AGVE, i think Shenanigan’s team can start to do compensation in a form of of the underlying assets for those who are holding at least 1 ALVIN and for those who are having under 1 ALVIN should be compensated with the new version of ALVIN. The address that should be eligible of this compensation should be person who are interacting legitimately with smart contracts made by Shenanigan’s team. Starting taking records of current ALVIN hodlers with their balance, blacklisting illegal addresses, whitelisting of all legitimate ALVIN hodlers. In a form of verification maybe Shenanigan’s team can make a compensation claim smart contracts with integrations of Discord and 3box. If their Discord and 3box address is having the same Github or Twitter username and they are in the 1Hive Discord server or Shenanigan Discord server then they can claim compensations based on the current ALVIN holding in the future. For official 1hive swarms multisig addresses, they should be whitelisted in the contracts for compensation in a form of 100% ALVIN based on the current holding. For illegal addresses, they should can’t claim in the compensation contract even the verification check for the address is passed for Discord and 3box. So this compensation could reduce the new ALVIN minted in the blockchain. Regarding to the new ALVIN initial liquidity, i suggest to start with $10000 in a form of new ALVIN and XDAI, so it will be $5000 ALVIN and $5000 Xdai. The xdai funds should be splitted between 1Hive and Shenanigan. Then Shenanigan’s team should build back the trust in order to increase more organic liquidity.

Anyone could correct my suggestion or make a new suggestion to perfectionize the resolution.

A rug pull in the colloquial sense in crypto is minting a ton of tokens and then emptying pools with your new tokens. As meta says this is a perfect example.

Your lackadaisical attitude throughout this saga has been pretty mind blowing, and if a colleague at my day job showed this attitude toward their own failures I don’t know that they’d be my colleague very long.

When the original Alvin overminting issue came to light and you offered to reimburse with your own funds I was against it, but now I wish I’d pressed harder then, too.

At this point I believe your name and keys to be toxic mud. I would never trust a multisig that you were a signer on, and I simply wouldn’t merge any code that came from you. I couldn’t possibly trust it without doing so much vetting that I might as well have written it myself.


If you’re accusing me of doing a rug pull directly, that’s just plain outright slander.

If youre trying to disenfranchise me, go ahead. I can take it

No, of course there is no concrete evidence that you yourself intended to execute the rug pull or benefited from it. However, even were I to level a direct accusation at you, it would not be slander: we are communicating mainly through text and so it would be libel. :wink:

Remember that thing I said about how your attitude toward this throughout the whole thing has been pretty mind blowing?

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People are focused on the negative impacts your project had on other pending projects in terms of reputation damage and they care about the 10k lost to the small liquidity provider community on honeyswap.

Their criticisms and mistrust and lack of desire to be affiliated with you come from how you are choosing to respond to these issues. By focusing on empty apologies and deflecting responsibility and getting super self defensive - instead of providing solutions.

These are all making your situation worse.

If you or your social group were not the rug pullers, it doesn’t matter, cause the same issues still need to be solved. And people will still attach this to your reputation because you ran point on this project.

This is basically the villain prequel story for a black hat anon serial rug pull dev on BSC.

You can still choose to end this drama in a constructive way, eat some crow and come up with a way to offer 10k back to those lp providers and at least people will say - he tried to make it right.

Now you are just alienating yourself and also not solving the problems that need to be solved.


Project was a mess since the 3 launches and the lack of communication around other people being able to claim your staking rewards, not surprised something else happened. Bad luck to all holders affected by this, this sucks

This is very interesting, I think perhaps we could use a graphic like this in the new onboarding interface.
However, at the same time, perhaps as Luke stated-

  • A list on celeste can potentially be more specific, maybe this graphic, or something similar can be listed on Celeste? (though this graphic might not match the styling on Celeste, but good place to start, I guess)