Benji Bananas Introduces New Token In Response To The Latest Security Breach

Key Points:

• Benji Bananas introduces BENJI token following a security breach involving PRIMATE tokens.
• The new token replaces PRIMATE in Benji’s ecosystem, ensuring continuity for token holders.
• The token swap process allows PRIMATE holders to exchange their tokens for BENJI at a 1:1 ratio.

In a bid to address the fallout from a security breach that occurred several months ago, Benji Bananas, a cryptocurrency ecosystem, has unveiled a strategic initiative that involves the introduction of a new token called BENJI.

This move comes after approximately 30 million PRIMATE tokens, accounting for 20% of the total circulating supply, were stolen from Benji’s market maker wallet. By launching BENJI, Benji Bananas aims to fortify its ecosystem and provide a secure foundation for its community.

The token swap initiative is designed to safeguard the interests of PRIMATE token holders and bolster confidence within the broader Benji Bananas community. BENJI will serve as the replacement token for PRIMATE and will be utilized in forthcoming Play-and-Earn (P&E) events and across the entire Benji Bananas ecosystem. It is worth noting that the tokenomics, total supply, and circulation of BENJI will mirror those of PRIMATE, ensuring continuity for existing token holders.

To facilitate a smooth transition, the Benji team has already taken a snapshot of PRIMATE token balances in wallets and liquidity pools at the time of the announcement. PRIMATE holders are advised to refrain from transferring their tokens, except for those held in liquidity pools. In light of the upcoming token swap, Huobi, the centralized exchange where PRIMATE is traded, will temporarily halt PRIMATE trading.

The timeline for the token swap process is as follows:

• A snapshot of PRIMATE token balances was taken at the time of the announcement on July 17, 2023, at 12:30 am UTC.
• The PRIMATE token claim function on the Benji Bananas website will be temporarily paused until the new token launch is completed. Tokens that remain unclaimed will be available for retrieval once the process is finalized.
• Trading of PRIMATE tokens on Huobi will be temporarily suspended.
• New liquidity pools for BENJI will be established, and details regarding these pools will be communicated in due course.
• PRIMATE holders will be able to swap their tokens for BENJI at a 1:1 ratio, with each wallet permitted to conduct a single swap. The eligible swap amount will be determined by the snapshot and the current PRIMATE balance in the wallet.
• PRIMATE holders with tokens on the Binance Smart Chain (BSC) are advised to bridge them back to Ethereum in preparation for the token swap.
• On July 18, 2023, the Play-and-Earn (P&E) claim function on the Benji Bananas website will resume.
• Over the subsequent month, the ecosystem will transition entirely to using the BENJI token. During this period, PRIMATE holders will have the opportunity to complete their token swaps.
• BENJI is anticipated to be listed on Huobi on or before July 31, 2023.
• Special events tailored for on-chain BENJI holders will be announced on Benji Bananas’s community channels.

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The Benji team has provided comprehensive instructions for PRIMATE token holders, emphasizing the importance of not moving their PRIMATE tokens until the swap process commences. Additionally, a detailed guide explaining the steps required to execute the token swap has been made available, and support will be provided to assist those in need of guidance.

Benji Bananas remains steadfast in its commitment to the security and prosperity of its community. While the security breach was regrettable, the introduction of BENJI and the subsequent token swap initiative are proactive measures aimed at mitigating risks and safeguarding the interests of PRIMATE holders. Benji urges its community members to stay tuned for further updates and encourages them to reach out to official channels for any inquiries or concerns they may have.

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