The crypto community is abuzz following the controversial cancelation of Xirtam token’s initial airdrop offering (IAO) on the Arbitrum decentralized exchange AlienFi. The scheduled IAO was canceled just minutes before launch on April 26, leaving investors and traders in the dark.
Although it was not immediately clear who was responsible for the cancelation, AlienFi alleged that Xirtam had conducted a “seed sale sold 3x+ below the Fjord price” before the IAO.
The development team claimed they were unaware of this event and discovered it only after the scheduled IAO. This led to a pricing dispute and ultimately, the cancelation of the IAO.
Xirtam’s presale was supposed to be conducted in two parts, with a liquidity protocol Fjord Foundry and a private-public sale with AlienFi. The IAO with AlienFi was scheduled for April 26 and was expected to raise 350 Ether (ETH) for 50 million Xirtam tokens.
The cancelation has sparked controversy in the crypto community, with many investors expressing disappointment and frustration. It is not clear what the future holds for Xirtam or the AlienFi exchange, but the cancelation highlights the challenges that exist in the decentralized finance (DeFi) space.
Decentralized exchanges like AlienFi are gaining popularity in the crypto world as they offer greater transparency, security, and control compared to centralized exchanges. However, they also pose unique challenges, such as pricing disputes and technical glitches that can lead to unexpected cancelations like the one experienced by Xirtam.
