Key Information:

• Date Airdrop Completed:12/12/2024

• How It Was Done: The airdrop was executed automatically, based on the snapshot of eligible Relay token holders.

• How It Was Calculated: The snapshot included all chains and address types (wallets, staking contracts, liquidity pool (LP) contracts, and farming contracts). LP tokens were converted into Relay tokens based on liquidity positions at the time of the snapshot. The airdrop received by individual wallets reflects the cumulative total from all chains and address types with which they are associated.

Why We Did It This Way:

This approach ensures that the transition from Relay to Elevate is seamless for our community, providing full access to the new $ELVT token and its utilities.

The snapshot was taken prior to the exploit on the Arbitrum network at Block Number 198073811 (April 6, 2024, 04:44:48 AM UTC), ensuring that only legitimate holders were included in the distribution.

If you have any issue in receiving your $elvt - Please create a support ticket on our discord -

https://discord.com/invite/relaychain

What is $ELVT Token?

The $ELVT token is central to the Elevate ecosystem. It serves as:

• Governance: Holders of $ELVT tokens will have a voice in key decisions and protocol upgrades

• Fees: Staking $ELVT will give access to rewards and fees generated from our protocols.

Things to Look Forward to:

With the Relay to Elevate airdrop now complete, we are excited about the future:

• Aerodrome Launch: Our upcoming launch on Aerodrome will introduce liquidity, partnerships, and enhanced visibility for $ELVT. This is a significant milestone in our journey.

• New Ecosystem Features: We will soon roll out our E-BOT, offering cutting-edge tools and utilities that benefit our token holders and improve the platform.

• Staking: Elvt holders will soon be able to stake their tokens to earn protocol rewards.

2025 Roadmap:

We are eagerly anticipating the release of our 2025 roadmap and can’t wait to share our vision for the future with our community. The coming year will bring new opportunities, innovative features, partnerships, and exciting growth for Elevate.

A New Chapter:

The airdrop marks a pivotal moment for Elevate - symbolising continuity, growth, and the expanding opportunities within our community. The $ELVT tokens will empower our holders as we continue to develop and grow our protocol on Base.

Stay tuned for more updates as we move forward, including detailed tokenomics and other exciting announcements.

Looking Ahead:

Now that the airdrop is complete, we’ll be providing further updates shortly, including detailed tokenomics and other exciting news!

Thank you for being part of this journey with Elevate. We’re excited to continue growing together and bringing more innovation to the blockchain space! 🚀

To ensure a seamless transition from Relay to Elevate, we’ve prepared an automatic airdrop of $ELVT tokens for all eligible Relay token holders.

Key Details:

• Snapshot Taken: We have already captured a snapshot of eligible Relay token holders.

• No Action Required: If you held Relay tokens at the time of the snapshot, you’re all set! Your $ELVT tokens will be automatically sent to your wallet.

• When: The airdrop will take place on December 9th.

• Where: The distribution will occur on Base chain.

Why the Airdrop Matters

The Relay to Elevate airdrop represents:

1. Community-Centric Growth: Elevate is built on the foundation of our Relay community. This airdrop ensures that every token holder remains an integral part of our journey and are made whole.

2. Smooth Ecosystem Transition: Distributing $ELVT tokens directly to Relay holders, simplifies the migration process and sets the stage for our next phase of development!

3. Future Opportunities: $ELVT tokens unlock access to everything Elevate has to offer - from staking to governance, within our expanding ecosystem.

What Comes Next?

The Relay to Elevate airdrop is a stepping stone toward even greater milestones:

• Aerodrome Launch: Our launch on Aerodrome will bring liquidity and heightened visibility to $ELVT.

• Innovative Ecosystem Features: With protocols like our E-BOT, Elevate is poised to deliver cutting-edge tools and utilities that benefit token holders and enhance our platform.

A New Chapter Begins

We are thrilled to take this next step together and look forward to seeing $ELVT tokens empower our holders as we expand our protocol onto Base.

Thank you to our community for their patience and understanding through this. Stay tuned for more updates and exciting announcements!

Follow us on X - /x.com/Elevate_fi

Website: https://Elvt.fi

https://t.me/+Rem0VBCaZkAwMjhk

Intract x Elevate

To ensure our community gets the best experience possible, we’ve partnered with Intract.io. Through Intract Quests, users can complete simple tasks and earn points toward their share of the airdrop.

How It Works The airdrop operates on a points-based system, meaning the more points/XP you earn, the better your chances of receiving a portion of the airdrop. Each season offers fresh opportunities to participate and grow your point total. Every quest you complete brings you closer to earning your slice of $ELVT tokens.

How to Get Started Ready to begin your journey toward earning $ELVT? Simply follow the link below to get started on our Intract quest and start earning points today.

Don’t miss out on your chance to secure early rewards!

Join the Intract Quest and Earn Points toward an Airdrop!

https://www.intract.io/quest/66dc367835d8c0b5df8145b0

Stay tuned for details regarding the Airdrop claim, dates and and season announcements.

To make it clear to our community, this campaign is not related to the Relay → Elevate Airdrop claim.

Vs.

This article marks the beginning of our multi-level rollout, with our upcoming $ELVT token set to launch on Base. Alongside this exciting phase, we are introducing new leadership and strategic changes to propel Elevate forward.

New Leadership

Elevate is now guided by two core members who bring extensive experience and expertise:

vsGoliath: Active in the crypto space since 2017, vsGoliath has played a key role in strengthening communities, marketing strategies, design, and outreach for various Web2 and Web3 projects. His behind-the-scenes contributions have helped projects grow significantly, making him a pivotal force in Elevate's leadership.

Bohrenstein: With a multi-decade career in marketing and design, Bohrenstein entered the crypto world in 2017. His technophilic nature and innovative approach quickly earned him a place on prominent teams. By 2019, he was contributing to help structure projects in business development. His deep understanding of the ever-evolving cryptosphere and his proven track record of success make him an invaluable addition to Elevate's leadership.

Trusted Advisors

In addition to our key leaders, Elevate will benefit from the insights and expertise of a small team of anonymous DAO ‘trustee’ members. These trustees will work closely with us to shape the future of Elevate, curate partnerships, and ensure that our strategies align with our community's best interests.

Our Vision Moving Forward

Elevate aims to innovate, create value, and empower our community. Our goals are to create exciting, revenue-generating projects that provide value to token holders.

E-BOT: Our reimagined Telegram Trading Bot, E-Bot, will empower traders across seven ecosystems to execute trades directly from the Telegram app. We're thrilled to be on the verge of announcing a groundbreaking partnership that promises to generate revenue from day one.

Strategic Collaborations and Marketing Initiatives

Collaborations with Key Opinion Leaders (KOLs): We are working with a select group of influencers who understand what we want to do at Elevate and share our vision for the future. These KOLs will play a crucial role in creating the identity of Elevate and capture the hype we need to fly!

Regular AMAs and Discussions: Community engagement is a priority. We will host regular Ask Me Anything (AMA) sessions and discussions with ecosystem partners to keep our community informed and involved. These interactions will provide insights into our ongoing projects, future plans, and strategic partnerships.

Partnerships

Building robust partnerships is crucial to our success. We are actively seeking ecosystem partners who share our vision and can contribute to our growth. With ambitious plans to launch on multiple ecosystems, we have plenty in store and will be offer generous incentives to our community to help make this a reality (More on that to come).

Website

Our new website will be the home of our DAO protocol and will provide a ‘fresh’ feel to our rebrand. We plan to release our new homepage within the next few days, with full documentation, whitepaper and more added very soon.

Stay tuned for upcoming articles on tokenomics, our roadmap, partnership announcements, bounty programs, and more.

Vs.

Our team has been hard at work crafting a fresh identity, innovative model, and renewed purpose for our valued holders.

The concept is simple - multiple layers of innovative projects that provide multiple layers of value to our community and token holders. By leveraging the power of decentralized governance, we empower our holders to actively participate in decision-making processes, ensuring that the direction of our projects aligns with the community’s interests. With a focus on transparency, collaboration, and rewarding participation, Elevate aims to build a robust ecosystem where each layer of innovation enhances the overall value and utility for all.

Addressing the Past

We understand the challenges that Relay and Zero Exchange faced in the past. As active community members ourselves, and even token holders, our team is committed to making meaningful changes, taking the project to greater heights that reward community members and more.

Here’s how we’re making sure our holders are compensated and the project is revitalized:

Compensation for Loyal Holders

Wallets that held despite the actions of nefarious actors will be made whole. For more details, see the Relay Community Update.

Airdrop Snapshot & Claim

With a new name comes a new token - We’ve captured a snapshot of the $RELAY holders and will airdrop a new token, '$ELVT,' to our community. The token will be distributed on a 1:1 basis and will be available to claim our new website within the next few months.

Launching $ELVT

We’ve chosen Aerodrome.finance - the central trading and liquidity marketplace on Base, to launch our new token. Throughout the many ecosystems we've seen in crypto, we believe Base will provide a fantastic, pardon the pun, ‘base’ for Elevate. This isn’t about capturing the latest trend but rather leveraging a platform that meets our project’s needs.

More details on the official token launch date and the process of how this will look will be explained later down the line.

-

So let’s talk about Elevate, what is it and what exactly does it do?

Elevate - Layers of Innovation and Value

We chose the name Elevate because it perfectly embodies our mission for the project and our community. Relaunching Relay presented us with many options. We decided that providing value to the community is essential to a successful project. Our DAO approach is focused on creating a multi-layered ecosystem that continuously adds value and gives a voice to our community. Elevate represents our commitment to do exactly that and enhance the experience for every holder and our community as a whole.

Here’s what we have in store:

1. Collaborative Governance

   Our token holders are at the heart of our decision-making process. This ensures that the direction of our projects aligns with the community’s interests and values. Elevate holders will help make decisions for the project, including what development will take place, what ecosystems to launch on, and more.

2. Incentivized Participation

   Active participants in our governance receive rewards, fostering a motivated and engaged community.

3. Lucrative Staking Rewards

   By staking Elevate tokens, stakers will earn rewards from the Elevate ‘Umbrella’ of projects. Stakers will enjoy a regular percentage revenue share of all our projects. Sustainable Rewards: We understand the concerns about projects relying solely on revenue to reward holders. However, we plan to have multiple revenue-generating projects, solid partnerships, and expansions to ecosystems that will continue to reward our holders.

4. Diverse Project Pipeline

   Telegram Bot

   A sophisticated telegram trading bot that will generate fees to our token stakers from day 1.

   Cross-Chain Bridge technology:

   Leveraging our cross-chain bridge technology, we aim to integrate this into a multitude of our upcoming projects. This will enable our users to seamlessly utilize cross-chain bridging across all our protocols.

   And much, much more: Our roadmap includes exciting ecosystems and on-trend projects that will provide real revenue. Look out for our roadmap article which will explain the exciting projects that we plan to launch and how our community can be involved.

We plan to launch our new website, roadmap + more in the coming weeks, stay tuned!

It’s up from here

We have a lot in store for our community, from innovative projects to enhanced rewards and community-driven governance, we are building layers of value that will benefit our holders.

Keep your eyes peeled on our socials, telegram, and more as we rebrand for a full-scale relaunch!

Elevate: Empowering Innovation and Value Creation, One Layer at a Time.

A New Chapter with a New Team

As we prepare for the relaunch of Relay, we are thrilled to introduce a revamped team dedicated to ensuring the success and sustainability of our mission. Our new team includes seasoned crypto professionals who have been involved in the web3 space since 2017, bringing extensive experience in marketing, brand design, community building, and more. Together with passionate community members, we are united by a shared vision: creating a multi-layered decentralized protocol that delivers continuous value to our holders. (More on that to come.)

Securing Major Partnerships

One of the key elements of our relaunch strategy is securing and finalizing a groundbreaking partnership that will bring immediate value to our community. This partnership is pivotal and the primary reason for our delayed relaunch. We are taking the necessary time to ensure it is solidified and beneficial for our community. We are super excited to share this partnership with you - it will provide significant utility and value to the project. We’ll be clarifying the full details in the next article update!

Upcoming Airdrop

We are thrilled to announce an upcoming airdrop of our new token, designed to make our loyal community whole. This airdrop will be distributed on a 1:1 basis to all holders, including those who were providing liquidity or had tokens locked in veRelay prior to the exploit and subsequent draining of veRelay. Purchases made immediately after the exploit will also be compensated. The new token will feature brand-new tokenomics, which we are excited to share with you in the near future. Additionally, our new legal structure and upcoming DAO framework will enable us to offer even more utility to our community utility that couldn't previously be offered under the old structure. We believe this new ‘shift’ will further enhance the value and functionality of the token. More information about the token and airdrop will be released early next week.

Enhanced Communication and Transparency

We recognize the critical role of clear and consistent communication in building trust and fostering a strong community. It's no secret that our previous communication efforts haven't met our standards, and we're committed to changing that. That's why we're implementing a comprehensive plan to keep our community informed and engaged.

Expect regular updates, open forums for discussion, and transparent decision-making processes. Our commitment to transparency ensures that you'll always know what's happening behind the scenes and how your input is shaping our projects. We understand that our community is full of capable, talented individuals with their own ideas and concepts for projects they want to see realized. We value your input and are dedicated to making sure your voice is heard.

Strategic Timing for Maximum Impact

We have a lot in the pipeline, and our primary goal is to ensure our launch is timed perfectly to maximize impact. We apologize for the delay, but rest assured that every moment spent is an investment in making our relaunch as robust and rewarding as possible. We don't want to simply launch a token; we want to launch a protocol that provides value for our community and reach as many new users as we can.

A Commitment to Excellence

We understand that delays can be frustrating, and we appreciate your patience and support during this period. We promise to give everything we’ve got to make this launch the best it can be. Our focus is on creating a thriving, sustainable ecosystem where every layer of innovation adds tangible value to our stakeholders.

What to Expect

New Team, New Vision: A dedicated and experienced team ready to drive ‘Relay’ to new heights.

Enhanced Communication: Regular updates and transparent communication to keep you informed and engaged.

Major Partnerships: Strategic partners secured to ensure immediate value and long-term sustainability.

Perfect Timing: A meticulously planned launch to maximize impact and ensure a thriving ecosystem from day one.

Upcoming Airdrop: Details on the token airdrop will be shared this week, ensuring our community are compensated fully.

As we finalize these crucial elements, we will continue to provide updates and insights into our progress.

Stay tuned for more information, and thank you for being an integral part of the Relay community.

VsGoliath & team.

As most of our community will be aware - It appears that on Saturday, 6th April, the deployer wallet in control of the veRELAY and lottery contracts had the ownership changed and a new proxy deployed. This gave opportunity for an unknown actor to sell over 1,000,000+ RELAY tokens into the market. Included in the 1m+ RELAY sold, were tokens held in the veRELAY staking pool. Since the event, we have been working tirelessly to find the root cause. Unfortunately, we cannot provide a foolproof answer on how this unauthorized actor gained access to the deployer wallet and sold the token, but we are actively looking to find more information. The following security measures were installed and validated by our team:

• Communicating secrets through an encrypted channel, i.e. auto time deletion secret chats on telegram, encrypted with 7-zip SHA256

• Keep secret sharing only to those involved directly with the development of the project

• Deletion of secrets upon fulfillment of use

What did not happen:

• send secrets over unencrypted channels

• tell secrets to an unauthorized personnel

• Deliberate theft of funds by dev employees. (All dev employees are known, doxxed, legally hired, and have background checks).

Our Response

Our team has undertaken several proactive measures to address the situation and mitigate potential risks. Our CTO has led efforts to review and reinforce our security practices, ensuring that all team members are well-versed in adhering to best practices for safeguarding sensitive data and project assets. We are currently holding internal discussions to foster a deeper understanding of the incident and identify any overlooked vulnerabilities. As soon as we receive any intel on the identity of the actor and how the attack happened, we will update the community as soon as possible.

Moving Forward Understandably, our community wants answers (and so do we)

Although in the dark, we want to bring light into this situation and provide a moving-forward strategy for our community. This event has served as a catalyst for introspection and refinement. As we continue to investigate the root cause of the incident, our primary objective is to regain the trust and confidence of our community and stakeholders. We are optimistic about the future trajectory of Relay Chain and remain steadfast in our commitment to transparency, integrity, and excellence. We aim to carry out the below efforts to maintain the safety and security of the Relay token and project; Enhanced Security Audits: Conduct comprehensive security audits of our smart contracts and infrastructure to identify and address any vulnerabilities or weaknesses.

Continuous Monitoring: Implement robust monitoring and alerting systems to promptly detect and respond to any suspicious activities or anomalies.

Education and Training: Provide ongoing education and training sessions for team members to reinforce security best practices and raise awareness of potential threats.

Community Engagement: Maintain open channels of communication with our community and stakeholders, providing regular updates and insights into our security efforts and progress.

Collaboration and Partnerships: Forge strategic partnerships with reputable security firms and industry experts to leverage their expertise and resources in fortifying our project.

Clarification/TLDR

No Deliberate theft of funds by employees.- A relaunch is planned

• RELAY buys actioned near the 1M RELAY sell will be refunded (Except any buys involved were malicious upon review)

• All Relay tokens that were taken from our staking community will be redeemable 1:1 upon relaunch (more details to come).

• Liquidity from the trading pool on CamelotDex has been drastically reduced. This aims to stop any large amounts of relay tokens from being sold into the market.

We aim to turn this negative into a positive for the project and community. We are currently in discussion on the most appropriate way to relaunch the project and how that would look. We will do our utmost to provide transparency to our community with regular updates and communication.

We appreciate the patience shown by our community at this time.

Relay Team.