Stayed today for the courses dynamics, if you see, some kind of manipulation were able to raise the price to a crazy figure, it seems to me that it is madness, how can you understand how it happened. After all, it can be seen that such a price was on schedules. Zamio $ZAM.
This happened due to the wrong contract, the developers fixed everything, the buyers themselves wanted to buy it before the announcement, the project is very interesting, I think it will give a lot of x
Dear our beloved community,
During the initial listing on PancakeSwap on November 2, 2021, we faced 2 issues that affected our launch. The first issue revolved around an initial spike in price before official listing which was caused due to one of our pre-sale investors adding a small amount of liquidity in the ZAM/BNB pair on PancakeSwap while we were working on anti-snipe / anti-bot procedures before the official listing time. This ill-intentioned investor was trying to drive prices up and withdraw liquidity. Given that multiple buyers were also setting up automatic trading bots, this led to a spike in ZAM token price that reached $20M per ZAM. To protect against liquidity withdrawal, we had to withdraw BNB liquidity ourselves and launch officially with an alternative pair.
The second issue happened while we were preparing an alternative pair where one of our team members posted a wrong address while the official group was muted. This issue was caused by a scam attack on our visible team members, where scammers were creating fake accounts impersonating team members and sending fake information to other team members. The post was in the group for a few minutes before we took it down. Unfortunately, several community members bought from the wrongfully posted contract address.
After the events at the listing, we conducted a thorough investigation to fully understand what happened. We asked community members to fill support forms so that we can filter bad actors and real buyers affected. We fully acknowledge and take responsibility for the second issue. As a result, we came to a resolution to help community members affected by the second issue by conducting an airdrop in ZAM to affected wallets equivalent to their lost amount at current ZAM market prices.
Resolution
While this resolution is not perfect, we found that this is a viable option to compensate the users affected by our mistake, without risking the sustainability of the project. We will automatically airdrop ZAM tokens to affected wallets. ZAM tokens sent will have a vesting period of 10 months where 10% will be unlocked every month.
As for the first issue, it is a little more tricky to find a resolution as there were a lot of bad actors (snipers and bot-traders) that were driving the price up with bad intentions. We understand that there were innocent people who bought with good intentions and got affected. As most of the buyers bought before the official listing while we were urging people not to buy on our official chat, and we are operating in a free market where buy orders are made solely at the discretion of the buyer, we have very limited responsibility on our side. We will try to help out people affected by the ZAM/BNB pair issue, and we got creative suggestions from our community on ways we can help and partially compensate people affected. We have a resolution in mind that we will announce once the final decision is made.
We apologize again for the inconvenience at launch and thank all our community members for their continued support. We understand that these resolutions will not satisfy everyone, but we are trying the best we can to be fair without risking the sustainability of the project. Thank you again for understanding and stay tuned for exciting upcoming updates for our project. Great things are coming. Let’s go together for a ride to the moon and beyond.
https://medium.zam.io/official-appeal-zam-io-to-the-community-99fd08a13076
https://i.ibb.co/Zf19Gj6/ZAM.jpg
[moderator's note: consecutive posts merged]
