🎮 $ESPORTS Talk about the price drop incident on May 25
The ESPORTS team has released an official statement regarding the strong token price reduction of $ESPORTS on May 25, stating that this was not an action carried out or directed by the project team. Based on initial investigation results, the main cause is believed to have come from an external partner assigned to provide liquidity support.
* 🤝 ESPORTS works with OTC partners and market makers to support liquidity and develop the ecosystem.
* ⚠️ One of the partners carried out activities that were not in line with the agreement as understood and agreed upon by the ESPORTS team.
* 💰 Most of the selling pressure is thought to come from the amount of tokens previously allocated to this partner.
* 🔗 Tracing the flow of funds was difficult because the tokens were transferred across multiple wallets, between trading counterparties, and through exchanges.
* 🚫 ESPORTS states that it did not sell tokens, and did not cooperate with or direct any dumping events that caused the price drop.
* 🛡️ After discovering the issue, the team coordinated with exchanges and relevant parties to investigate and limit damages.
* 💧 The project is implementing recovery measures, including:
* Liquidity support.
* Collaboration with new long-term partners.
* Preparing game updates and announcing additional buyback programs.
The ESPORTS team has released an official statement regarding the strong token price reduction of $ESPORTS on May 25, stating that this was not an action carried out or directed by the project team. Based on initial investigation results, the main cause is believed to have come from an external partner assigned to provide liquidity support.
* 🤝 ESPORTS works with OTC partners and market makers to support liquidity and develop the ecosystem.
* ⚠️ One of the partners carried out activities that were not in line with the agreement as understood and agreed upon by the ESPORTS team.
* 💰 Most of the selling pressure is thought to come from the amount of tokens previously allocated to this partner.
* 🔗 Tracing the flow of funds was difficult because the tokens were transferred across multiple wallets, between trading counterparties, and through exchanges.
* 🚫 ESPORTS states that it did not sell tokens, and did not cooperate with or direct any dumping events that caused the price drop.
* 🛡️ After discovering the issue, the team coordinated with exchanges and relevant parties to investigate and limit damages.
* 💧 The project is implementing recovery measures, including:
* Liquidity support.
* Collaboration with new long-term partners.
* Preparing game updates and announcing additional buyback programs.