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While helping a friend with his ICO I saw he made a mistake while creating the tokens. The idea was the following:

  • 20% Pre-sales and ICO
  • 10% for the whole team
  • 2% Marketing
  • 1% Bounty
  • 1% Airdrop
  • 1% Dev

The rest of the tokens should be available to the public. However, while he was giving the instructions to the tech team for the token creation, he mistakenly said that the remaining 65% of the tokens should be in the public wallet, which he then created, and when the smart contract was deployed, the rest of the tokens were transferred to this wallet. Now they have a problem, 100% of the tokens are in their possession. I think there is a possibility of having a smart contract that could set those tokens free from the target wallet.

Has anyone done this before?

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You can fork the contract and do a bridge that give you 65% of your tokens with a burn function. But it will cost gas for everyone, because rewrite an entire mapping is quite expansive.

There is no easy way to do it, and none where it's free. You will either pay for the redistribution (in eth) or your user will.

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  • Thank you for your clarification, the trigger of his action was that he was sure the tokens get "burned" after its creation. So he simply sent it to a wallet. He didn't know the ERC20 tokens are in the supply of the smart contract, at least this is my understanding how the tokens are "stored".
    – sphraax
    Commented Jun 2, 2021 at 20:35

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