Banana Gun’s team, which collected $1.2 million from the pre-sale, sold all the tokens they had.
Cryptocurrency investors are also investigating new ones, as opposed to existing projects in the market. Especially the pre-sale part is seen as a new source of income. In this context, investors are focusing on various decentralized exchange projects.
Telegram bot project Banana Gun has made a pre-sale in order to be released on the decentralized exchange. 800 wallets participated in this pre-sale with $1.2 million. However, the project team sold the treasury tokens, claiming that there was a problem with the smart contracts.
Telegram bot project made millions of dollars in sales
Banana Gun (BANANA), the Telegram bot project launched on the decentralized exchange, closed the project for restructuring purposes. Banana Gun had a successful pre-sale period and was released to the market with great interest. The project token was pre-saled at a price of $0.65 and 800 wallets participated in this pre-sale. Approximately $1.2 million was raised.
Due to a vulnerability in smart contracts, a problem arose in the 4 percent fee transfers of the project. Citing this problem, the project withdrew the money in liquidity by selling the treasury tokens it held. The project team, which was exposed to criticism from investors, announced that this transaction was made to take back $ 325 thousand Ethereum locked in liquidity. The team stated that they will be released again and airdrop will be made to previous participants.
After a pre-sale of $0.65, BANANA rose to $8 in a short time. However, after the team sold, the price of the project dropped to $0.02566.
Making a statement on the subject, the project team said: “Understand, you are angry, this is terrible. We had a great launch and this problem (smart contract bug) ruined it. Know that we are here, we will figure this out and come back stronger.”
On the other hand, the team claimed that the amount lost to investors due to the decrease in the token price will be refunded in Ethereum. It is a matter of curiosity whether the team, which raised 1.2 million dollars, will launch the project again.
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