Venom Foundation Official

📰 Bridges Are Crypto’s Achilles’ Heel: A New HackerNoon Article by VF CEO Christopher Louis Tsu 📰 Venom Foundation CEO Christopher Louis Tsu breaks down why bridges keep getting hit hard, why the real test isn’t just the code or the audits, and what actually separates solid teams when something breaks in his latest article on HackerNoon. 🔑 Key to correcting the problem are speed, precision, verified info, and real preparation. 👉 Check out the full article here: 🔗 https://hackernoon.com/bridges-are-cryptos-weakest-point-incident-response-is-the-real-test

💰 $100 GIVEAWAY 💰 To Participate: 1️⃣ Follow Venom on 𝕏 2️⃣ Like & RT & bookmark this post on 𝕏 🔁 3️⃣ Tweet the text below on your Twitter (𝕏) page: 💰250K $VENOM Trading Competition is LIVE! @Venom_network_ launched a Grid League on @origamitech_ 💱Pair: VENOM/ $USDT on @kucoincom 📅Until Aug 22 💰Prize Pool: 250K VENOM Climb the leaderboard & grab your share of rewards👉 https://cutt.ly/LyauQsuN #Trading #KuCoin #Giveaway 4️⃣ Send a link to your tweet in the comments below this post on 𝕏 And you're in! ✅ On Aug 22, twenty random winners will share the pool equally.

🏆 New Venom × Origami Tech Trading Competition on KuCoin 🏆 Ready to prove your trading skills? @origami_tech is launching a new trading comp with a 250,000 $VENOM prize pool on KuCoin. 📅 Competition period: August 8, 12:00 UTC – August 22, 12:00 UTC 📊 This is a Grid League event, which means that it is based on volume: the more you trade, the higher your rank, the bigger your share of the winnings. 🔗 Join the competition now and win your share of the prize pool: https://app.origami.tech/competitions/233

💰 Venom Discord Rewards Live 💰 Active rewards right now on Venom Discord: • $100 giveaway for Ambassadors every 10 days • $50 giveaways rotating across Associate → Bachelor → Master → Doctor every 10 days • $100 X.com giveaway every two weeks • Regular quizzes on Venom, blockchain & Bitcoin - win USDT + XP No passive watching. ⚡️ Participate and get paid. 👉 Get started: https://discord.gg/venomfoundation

⚡️ Switch to SparX: the cutting-edge wallet for Venom’s upgraded protocol ⚡️ ⬇️ What's awaiting you: • Same addresses & seed phrases • Staking/unstaking built-in • Unified ecosystem experience • Better UX and architecture 📲 Download: https://sparxwallet.com/download

🛡 ChainConnect Post-Mortem: Alien Proxy Callback Exploit 🛡 On July 26th, an unauthorized caller exploited an access-control flaw in a ChainConnect bridge contract on Venom 2.0. The vulnerability was in their application-level code (specifically the ProxyMultiVaultAlien_V10.onCheckAccumulatedFee callback), which lacked proper sender verification. This allowed the minting of unbacked Alien TIP-3 tokens that were then bridged to Ethereum through the standard flow. The issue was not related to Venom, the TVM, the TIP-3 standard, network infrastructure, relays, or any core components. No keys or privileged access were compromised. Actions taken and fund recovery ChainConnect has taken full responsibility, patched the vulnerability across all affected deployments, and conducted a thorough review of their callback and minting logic. 👉 82.9% of the affected funds (~615k USD) were returned, with 17.1% retained as a bounty. Venom and ChainConnect Venom is an independent public blockchain. ChainConnect is a separate project building on the broader ecosystem. Our team assisted them during the investigation, but we were not involved in the root cause. 🔗 Full technical post-mortem from ChainConnect: https://t.me/chainconnect_news/9

➡️ Time to Move Beyond Active Addresses ➡️ Venom Foundation’s new report calls out active addresses as an unreliable metric for blockchain adoption. 🤖 Many are inflated by Sybils, bots, and automated activity, giving a false picture of real user growth. They propose better, manipulation-resistant metrics focused on genuine usage. 🔍 Check out the full details in Blockchain Reporter: 🔗 https://blockchainreporter.net/venom-foundation-calls-for-better-blockchain-adoption-metrics-beyond-active-addresses/

Update on the ChainConnect Security Incident The ChainConnect team has identified a security incident affecting their bridge platform and has temporarily suspended all bridge operations while its investigation continues. The Venom team has been in close contact with ChainConnect and is providing assistance throughout the investigation. We will share additional details as soon as verified information becomes available. What you need to know 🔎 ChainConnect is actively investigating the incident with support from the Venom team. ⛔️ The ChainConnect Bridge has been temporarily paused as a precaution. 🛡️ Based on the information currently available, the incident is limited to the ChainConnect Bridge and does not affect the operations of the Venom Network. ✅ No impact to assets held directly on the Venom Network has been identified at this time. Important ❗️ Please do not interact with the ChainConnect Bridge until further notice. ‼️ ChainConnect is an independent ecosystem product built on Venom. The investigation currently concerns the ChainConnect Bridge and the vulnerability should not be interpreted as a compromise of the Venom Network. 🙏 Thank you for your understanding and continued support. Further updates will be shared when verified information becomes available.

⏳ Stage 5 of Season 6 Coming Soon ⏳ We’ve heard you loud and clear. Many of you have been asking for clarity on the Early Participant NFT migration, and we’re actively working on it. 🛠️ 🔜 In the upcoming Stage 5, you’ll be able to: • Swap your NFTs to the new Venom network • Complete fresh tasks • Explore new token mechanics on the upgraded chain 🤝 This is a major milestone for Venom, so we’re moving carefully and deliberately to make sure the transition is smooth and hassle-free for everyone. 📅 We’ll announce the exact start date soon. Thank you for your patience and continued support! 🙏 Stay tuned. Big things are on the horizon.

✅ ChainConnect Maintenance Successfully Completed ✅ The ChainConnect Bridge platform underwent maintenance work in order to connect to the new Venom network. The Bridge is now fully functional with Venom operations. Thank you for your patience! 🙏

🛡️Venom Looking for DeFi Insurance Partner 🛡️ Venom Foundation is actively seeking a DeFi insurance partner 🔐 to boost on-chain security and protect user assets. 🤝 Rather than developing its own insurance service, the platform is looking for a professional underwriting collaborator that can offer dependable claims processing and coverage. For more details check out this article: 🔗 https://blockchainreporter.net/venom-foundation-seeks-defi-insurance-partner-to-strengthen-on-chain-security/ 💬 And if you have any suggestions, leave them in the comments or reach out to us on Discord.

➡️ Migrate Your Venom Tokens ➡️ The new Venom mainnet is live following a flawless migration. Holders can now perform a simple 1:1 swap of their tokens through the official migration portal. There are no address changes and everything is running seamlessly. 🔗 Portal: https://migrate.venom.network/ ✅ The old chain will remain active for 6 months, so you can migrate at your own pace. 📝 Our CEO, Christopher Louis Tsu, just wrote an essay on what Venom's migration means for the industry, check out the full details here: 👉 https://www.thecryptoupdates.com/what-venoms-quiet-migration-says-about-blockchains-coming-of-age/

​​🎁 100 QUANTS WL GIVEAWAY! 🎁 We are giving away a whopping 100 free WL spots for the new Quants NFT collection! 🤩 If you were to mint these yourself, it would cost a total of 75 SOL (~$5,800)! 🔥 We have split the prize pool into two parts: 🔹 Discord Giveaway (50 WL Spots) Exclusively for Ambassadors. 1️⃣ Not an Ambassador yet? It's super easy to become one! Follow the guide and fill out the form here: LINK 🔗 (You can apply and earn the role until the giveaway ends). 2️⃣ Already an Ambassador? Make sure your Discord profile meets all requirements. 3️⃣ Go to our Discord, find the giveaway post, and click the "Participate" button 👉 LINK 🔗 🔸 Twitter/𝕏 Giveaway (50 WL Spots) Open to everyone! 1️⃣ Follow Venom Network on 𝕏. 2️⃣ Like & Repost the giveaway tweet. 3️⃣ Join our Discord: https://discord.gg/venomfoundation 4️⃣ Drop a screenshot proving you've joined our Discord in the comments under the tweet! ⏳ Details & Rewards: • 🏆 Total Prize Pool: 100 WL spots (50 on Discord + 50 on X). • 📆 End Date: July 22. Take part in both to double up your chances! 🚀

⏳ Stage 5 Venom Quests Update ⏳ Due to the ongoing network migration, Stage 5 of Season 6 of Venom Quests has been postponed and is now expected to start within the next 7–14 days. 👉 Because we are switching to the new protocol, users will have to transfer their tokens over to the new network. While we prepare for the launch of Stage 5, you can migrate your $VENOM and $USDT via a 1:1 swap using the official portal: 🔗 https://migrate.venom.network 👀 Please stay tuned for further updates. Thank you for your patience! 🙏

📰 Venom Network Migration Digest 📰 Venom is currently migrating to its next-generation protocol following the successful community vote on VIP-003. ⚡ The upgrade brings 150K TPS, sub-second finality, advanced dynamic sharding, improved PoS, and full backward compatibility, all while keeping a smooth 1:1 transition. 🌍 Major media outlets have been covering this milestone, follow the links to see what they're saying: • Blockchain Reporter on Venom DAO’s 150K TPS Network Upgrade Vote • CoinGabbar on Venom DAO’s Next-Generation Network Upgrade Vote • CoinGabbar on Venom’s Completed Migration to the Next-Generation Protocol Big step forward for Venom. Keep your eyes peeled for more updates! 👀

🚀 Venom Mainnet Migration Now Live 🚀 Venom is now moving to the new mainnet! Migrate your $VENOM and $USDT via a 1:1 swap on the official portal. Token supply and vesting remain unchanged. 🔑 Key info: • Old mainnet will stay online for 6 months, so move at your own pace • Use SparX Wallet (it is replacing Venom Wallet) → sparxwallet.com/download • The new network features up to 150,000 TPS, sub-second finality, dynamic sharding & more 🔄 Migration Portal: https://migrate.venom.network ⚠️ Important Warning The portal works one way only. Do not send tokens back from the new network to the old one or you will lose them. You will also see this warning when signing the migration transfer. 🔗 Full guide & details: https://venom.foundation/migration ✅ Follow the steps carefully, start with a small test amount, and leave ~0.05 VENOM for fees. Welcome to the new era of Venom! 🔥

➡️ Venom Ecosystem Update: Unstaking & Migration Info ➡️ Dear Venom community, We’ve fully resolved the previous unstaking delays. Unstaking stVENOM now takes 24 to 60 hours. ⚠️ Important for existing requests: If you submitted an unstaking transaction before today, it may still take up to 30 days. You can cancel it directly in the SparX wallet interface and create a new unstaking request to benefit from the updated 24-60 hour processing time. 🔐 Reminder: Your address and seed phrase remain exactly the same as in the previous Venom wallet. 🔄 Why unstake? To participate in the upcoming migration, you must first unstake your stVENOM back to VENOM, then swap VENOM to the new token via the official migration portal (1:1 ratio). 🔜 The portal will open soon, stay tuned for an announcement. 🆕 New workflow: All staking and unstaking operations now happen exclusively inside the SparX wallet using the Stake/Unstake button. There is no longer any need to use VenomStake.com. 👉 We’ve prepared a detailed step-by-step guide on using SparX, including everything you need to know about unstaking: 🔗 https://medium.com/@venom.foundation/how-to-unstake-tokens-seamlessly-with-the-sparx-wallet-89a2e10aa2de ❗️ Stay tuned for the migration portal announcement. Thank you for your patience and continued support! 🙏

🚀 Venom Wallet Switches Over to SparX 🚀 Dear Venom community, We are excited to announce that Venom Wallet is transitioning to SparX, the new official ecosystem wallet. ⚡️ What is SparX? SparX is a next-generation wallet offering improved performance, better user experience, and full support for all current and upcoming features. What you need to know: ✅ Your address will remain the same ✅ Your seed phrase will remain valid ✅ All your assets and tokens are safe ✅ No action is required until you decide to migrate The migration has begun. Venom Wallet will continue to be fully supported for the next 6 months, but we strongly recommend switching to SparX as soon as possible to enjoy the best experience and future updates. 📲 Download SparX now: https://sparxwallet.com/download Stay safe and thank you for being part of the Venom journey! ✨

🗣 All of Your Migration Questions Answered 🗣 This is a huge moment for Venom and we understand there are a lot of questions. As a reminder, we have gathered all of your questions and answered them in our FAQ. 🔗 Read out the FAQ here: https://medium.com/@venom.foundation/venom-migrates-to-next-generation-protocol-faq-748c5df4e683 ℹ️ And be sure to check https://venom.foundation/migration for all the latest information. Thank you, and if you have any issues or further questions, don't hesitate to reach out to us! 💬

🌐 Venom Ecosystem Migration: The Next Phase 🌐 The new Venom mainnet is live and producing blocks. Migration tokens are staged and ready. 🚀 The ecosystem is preparing to move. 🔗 All the latest information about the migration is now available here: https://venom.foundation/migration Where we stand: • New mainnet — deployed, sub-second finality, dynamic sharding live • New explorer — https://new.venomscan.com/ • New JRPC — jrpc-new.venom.foundation • Migration tokens — staged on-chain, ready for the 1:1 swap • Migration portal — opening soon • Bridge — deployment in progress • ChainConnect — connecting to the new network (transactions currently on pause, full migration expected within ~1 week) • Exchange partners — coordinated support announcements pending The old mainnet will remain online for the next 6 months ⏳ to ensure a smooth transition. 👉 Full instructions, timeline, and regular updates will be published at https://venom.foundation/migration. 🔗 For any questions, check out our FAQ: https://medium.com/@venom.foundation/venom-migrates-to-next-generation-protocol-faq-748c5df4e683 We’ll keep the community updated every step of the way as we complete this important upgrade. ✨ Welcome to the next era of Venom.