30s Summary

Crypto investment and gambling project, Mpeppe, is distributing 25% of its owed tokens to investors via a new claims portal. However, investors have voiced their frustration over the lack of liquidity, with tokens being impossible to trade. These concerns stem from a previous presale of tokens, which were never delivered to the buyers, and were instead clustered in a single address on the blockchain. In addition, despite the method of distributing tokens, the Mpeppe token cannot currently be sold on Uniswap.

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So, here’s some news from the world of crypto investing and gambling: Mpeppe, a project that blends the two, has announced it’s giving out 25% of its owed tokens to investors via a new claims portal. This breaking news was shared by a couple of folks who’ve invested in the project.

But it’s not all roses and sunshine. Investors are grumbling that the token is short on liquidity – they can’t even trade it. Cast your mind back to August, and you might remember some folks pointing fingers at Mpeppe, dubbing its presale as a sham. The reason? It accepted cryptocurrencies for the tokens, but no tokens were sent to the investors.

The data from the blockchain at that time revealed all tokens were clumped together in one address, untouched. Adding to the weirdness, Mpeppe wanted all kinds of personal info from the buyers, like phone numbers and emails, but never asked for the crypto address for token delivery.

Fast forward to now, Mpeppe has set up this new claim portal instructing users to hook up their wallets. One of the investors, who wanted to stay anonymous, revealed that 25% of the owed tokens had been successfully claimed. However, the rest of the tokens are yet to reach their wallets.

Adding a cherry to this chaotic sundae, another investor shared a screenshot of Mpeppe’s app display, announcing more tokens will be dropped off in wallets on Christmas Day.

Digging into the blockchain data shows Mpeppe is using a common airdrop contract to disburse tokens, and over 700 investors have already secured their tokens. Sounds like good news, right? No so fast. One of the investors highlighted that the Mpeppe token can’t be sold on Uniswap due to zero liquidity.

A harsh reality for this investor who bet $1,600 on Mpeppe – only a quarter of the claim was accepted and worst of all, the tokens can’t be traded or exchanged for ETH on Uniswap. There were rumors about BitSwap joining the game on day one, but that seems to have fizzled out.

When we tried to sell Mpeppe tokens on Uniswap using either Ether (ETH) or USDC digital coins, we bumped into an error message saying ‘no routes available’. Getting any comments from Mpeppe proved unsuccessful – there was no reply to our email enquiry.

Here’s some trivia you might find interesting: Back in October, Mpeppe shared news about the launch of a gaming platform on Telegram. They’ve also been talking about unveiling an online casino where users could gamble using Mpeppe tokens. Plus, they say they’re working on a mobile app to be launched in the Google Play and Apple App Stores soon.