2022-02-25 16:37:31
StarTerrans,
We have a quick announcement regarding the latest Lunaverse $LUV TGE
StarTerra is only responsible for IDO fundraising and vesting of tokens and therefore are not affiliated with the TGE process nor are we affiliated or responsible of providing liquidity for DEXs for tokens launched on our platform.
In practice, what happened was that Lunaverse had initially added liquidity on Loop , where after the price soared to $0.40 which is reasonable in the market conditions. And as Lunaverse are in fact responsible for sending us the tokens in order to distribute to our participants, we were required to wait until they did so. We should have received the tokens on the hour according to our agreement but we didn't. Whilst we were waiting, liquidity was added to Terraswap where the price was far lower. In turn killing the price action dropping to $0.06 as people could buy for lower on Terraswap, sell higher on Loop. Presale private and seed investors were all affected by this too.
We sincerely apologise for any inconveniences caused, but as we don't have any power over this situation, if you have any further queries regarding this matter please visit Lunaverse's official chats where they will be able to assist you:
Telegram: https://t.me/lunaverse_io
Discord: https://discord.gg/lunaverse
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