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DGNX Legacy Disburser - Vesting & Distribution Tool

The DGNXLegacyDisburser smart contract is a vesting and migration tool created to distribute DGNX tokens to legacy holders of the DEGEN SmartDeFi token.

Contract Address​

Background​

DEGEN was a SMARTDeFi token on Binance Smart Chain (BSC). Due to severe hacks in the FEG ecosystem, DEGEN lost its liquidity because its liquidity pool was paired with fBNB, which was completely drained during the attack.

What Happened?​

  1. Flashloan Exploit (May 2022)
    The FEG ecosystem suffered from a major flashloan exploit targeting the swapToSwap function, draining around $1.3 million.

  2. SmartBridge Exploit (December 2024)
    In December 2024, the SmartBridge functionality of the FEG ecosystem was exploited, resulting in unauthorized withdrawals and a 99% price crash of FEG.

Migration to DGNX​

As a result of these incidents, the DEGEN team initiated a full migration from BSC to Avalanche. DEGEN holders were eligible to receive DGNX at a 1:1 ratio based on a snapshot taken before the migration.

Only snapshot holders could participate in the DGNXLegacyDisburser and claim their DGNX allocations.

Vesting & Claiming Process​

Step 1 - Initial Claim​

Eligible users (identified in the snapshot) could claim an initial percentage of their DGNX allocation when the disburser started.

Step 2 - Recurring Claims​

Users could claim additional DGNX in recurring intervals (monthly) over time until their full allocation was claimed.

Step 3 - Forfeiture of Unclaimed Tokens​

Users who failed to make their initial claim within a set timeframe (Tardy Holder Period) forfeited their allocation. These forfeited tokens were sent to the DGNX Locker contract.

Summary​

ProcessDetails
Eligible UsersSnapshot holders of DEGEN on BSC
Token Migration1:1 from DEGEN (BSC) to DGNX (Avalanche)
Initial ClaimFirst payout after start
Recurring ClaimsMonthly claims until fully vested
ForfeitureUnclaimed tokens after initial period are locked

This structured approach ensured that only real DEGEN holders could benefit, encouraged holding DGNX, and prevented immediate sell-offs.