𧡠The $WELL Token Launch Disaster
The $WELL token launch has been a disaster. After 2 years, the final token launch from @well3official was supposed to happen 23 hours ago, but it ended up being a complete failure.
Let me deep dive into some thoughts & how to overcome this π
The $WELL token launch has been a disaster. After 2 years, the final token launch from @well3official was supposed to happen 23 hours ago, but it ended up being a complete failure.
Let me deep dive into some thoughts & how to overcome this π
1/ The claim for the community didnβt work due to a loophole in the smart contract. Someone sold millions of $WELL on CEXes before anyone else could access their tokens.
Two hours after the official launch time, the claim mechanism finally worked, but the damage was already done. This delayed access severely impacted the community.
The claim process is also poorly coded, causing high gas fees. Users had to pay fees to set up the claim and additional fees to claim the tokens, often more than the tokenβs value due to the massive drop caused by the initial problem.
Yet, there has been no communication by the team.
Two hours after the official launch time, the claim mechanism finally worked, but the damage was already done. This delayed access severely impacted the community.
The claim process is also poorly coded, causing high gas fees. Users had to pay fees to set up the claim and additional fees to claim the tokens, often more than the tokenβs value due to the massive drop caused by the initial problem.
Yet, there has been no communication by the team.
2/ Thereβs also confusion over token distribution calculations for staking, Lampz, and Spirituality points. No clear view on NFTs to see how many $WELL they hold, making secondary trading a gamble for Yogapetz & Kubz.
Additionally, some folks could not even claim their 15% token allocation but got a lower amount.
Again, until now: No communication.
Additionally, some folks could not even claim their 15% token allocation but got a lower amount.
Again, until now: No communication.
3/ Communication - or should I better say NO communication.
Adding to the frustration, there has been zero communication from the team. No updates in Discord, no AMAs, nothing. One poor mod is working tirelessly with no information.
Where are you, @keung, @Kakarot_F23, @KobeBweeef3 ? Where is the community lead @yhopak1 ?
Adding to the frustration, there has been zero communication from the team. No updates in Discord, no AMAs, nothing. One poor mod is working tirelessly with no information.
Where are you, @keung, @Kakarot_F23, @KobeBweeef3 ? Where is the community lead @yhopak1 ?
4/ Big announcements were made with @Samsung , a big paid X space with @MarioNawfal a day before launch, investors like @Newmangrp and @animocabrands, 15k ETH ($55 million) was raised in 24 hours with plans to revolutionize the wellness industry, but now, thereβs no communication?
5/ I posted about this in Discord yesterday, but no one has responded. I understand the team needs to figure out the issue and talk to investors, but the community needs to be informed as well. We are your investors too! π«΅
6/ Mistakes happen, but communication is key! π€ If you need help setting up a space or anything else, reach out. Itβs crucial to take responsibility and take action if you want to make this project a success. @well3official @Kakarot_F23 @KobeBweeef3
You want the support of the community? Talk to us - not in 4 weeks, the time is NOW β
You want the support of the community? Talk to us - not in 4 weeks, the time is NOW β
7/ Many people lost money, myself included. I hope everyone is okay. π This needs to be addressed immediately.
This should not be FUD - just a post of a concerned holder, investor who wants the founders to show responsibility!
This should not be FUD - just a post of a concerned holder, investor who wants the founders to show responsibility!
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
