As a seasoned researcher with a keen eye for detail and a knack for navigating the complex world of cryptocurrencies, I find myself both intrigued and cautious about the recent developments surrounding Mpeppe. On one hand, it’s promising to see a project moving forward with token delivery, especially considering the allegations from August. However, the lack of liquidity and inability to trade the tokens raises serious concerns.
According to recent updates from token holders on November 26th, Mpeppe’s gaming and decentralized finance project is making available 25% of the promised tokens to its investors via a newly established redemption platform.
Yet, certain investors voice concerns over the token’s limited trading activity, stating they find it difficult to execute trades due to its insufficient market fluidity.
In August, certain investors alleged that the project had conducted a fraudulent pre-sale, claiming they took cryptocurrency for the tokens but failed to deliver them to the buyers.
At the given moment, the blockchain records indicated that all the tokens were stored in a single account and remained stationary.
In this project, the user interface demanded a significant amount of personal data such as their phone number and email address, yet it failed to request the necessary cryptocurrency wallet address where digital tokens might be transferred.
Two tokenholders contacted CryptoMoon on Nov. 26, both of whom asked to remain anonymous.
They’ve both announced that the project has started a claim portal, where users need to link their digital wallets.
As a researcher, I can affirm that one entity has effectively secured 25% of the tokens due to them. However, it’s important to note that the rest of the tokens, which are yet to be delivered, remain outstanding.
A user shared an image showing the app’s layout, indicating that additional tokens would be accessible on Christmas Day (December 25).
The blockchain records indicate that the project is distributing its tokens via a conventional airdrop mechanism. Approximately 700 users have successfully received their tokens to date.
Despite the appearance of positive developments with token distributions, it’s been reported by one user that the token lacks liquidity on Uniswap, making it difficult or impossible to sell.
“I have entered $1,600 and am a semi-experienced investor in crypto. However, after receiving the claim 1) Only 25% of the claim was allowed to be claimed 2) The coins are useless, you can not trade them, they hold no value on Uniswap as you attempt to exchange for ETH 3. There was talk about release on BitSwap on day one — have not seen any of that.”
On November 27, trying to swap Mpeppe for either Ether (ETH) or USDC (USDC) on Uniswap results in a “No liquidity paths found” message.
cryptoMoon reached out to Mpeppe via their official email, yet there was no reply by the time of publication.
On October 30th, Mpeppe disclosed the debut of their Telegram-based gaming platform. Moreover, they hinted at future plans to introduce an online casino where users can wager with Mpeppe coins.
The project’s official site announces they are working on a mobile app that can be downloaded from both Google Play and the Apple App Store.
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2024-11-27 16:07