MultiversX Tracker is Live!

CMC attempts to smear Ergo in petty revenge for the Ergo team exposing CMC's extortion attempt

All Cryptocurrencies

by COINS NEWS 44 Views

So following on from having incorrect data on their site and attempting to extort $5k to correct it

https://www.reddit.com/r/CryptoCurrency/comments/17n0hwo/cmc_is_essentially_yelp_they_continue_to_refuse/

CMC have posted a message on the Ergo page of the site as a very petty revenge

"The Ergo team wants to erase years of data to improve its chart optics. However, we shall retain the pre-swap price history as is customary for 1:1 swaps like EFYT to ERG to allow users to make informed decisions. The public can infer what the Ergo team's motivations are with this verbatim quote: "As while it was 1:1 swappable, the supply was completely different and it is misleading to compare it on a price scale. This is another massive disadvantage as I see tweets regularly saying they are not interested in Ergo because 'it failed to break ATHs in the bull run"

The current Ergo chart on CMC includes data for EFYT, what is EYFT I hear you say...

Ergo-First-Year-Token was airdropped and distributed on Waves DEX starting with a 100,000 EFYT airdrop in May 2017. EFYT served the dual purposes of helping build an early community of stakeholders and enthusiasts for Ergo and raising a small number of funds for the platform before launch to fund development, promotion etc. EFYT is strictly a Waves token and is not the same as an Erg; the Ergo mainnet native token is mined after Ergo's mainnet launch.

It was a completely seperate token on a different chain - Ergo didn't launch until 2019 so it is impossible to have Ergo data going back to 2017!

This message on the page is a petty retaliation for CMC being publicly shamed by Ergo for their scummy extortion attempt.

If any further proof is needed that CMC are not to be trusted they have this message posted at the top of their Safemoon page

SafeMoon has been migrated to a new contract address. The old page can be visited here

So they granted the request to a known ponzi scheme with the founders indicted on cospiracy to commit fraud charges.

Edit:

Here's the text of an email from the Ergo team sent to CMC about this which CMC have used as the basis of their message

Your platform has a duty to portray each coin's history accurately. And the charts I've shared clearly show a discrepancy for ERG that others don't face. The transition from EFYT to ERG, while executed as a 1:1 swap, clearly has distinguishing features that has led to this discrepancy. Conflating historical data EFYT and ERG prices directly is therefor not just inaccurate, but grossly misleading. Your stance on the "intentional omission of key details" misses the mark. The core issue is the distorted representation of ERG's trajectory. Our call is not for a blanket omission but for a differentiated representation that aligns with the specific circumstances surrounding EFYT & ERG. This is crucial for maintaining the integrity of data representation and providing an accurate account of ERG's history. The primary concern of any regulatory body is the potential for investor misinformation. The unamended historical chart has already led to misconceptions within the investor community-a fact supported by community feedback and observable confusion. Contrary to claims that our effort to rectify the chart amounts to manipulation, it is in fact aligned with what a regulatory body would likely advocate for: accurate and transparent representation of historical data. Presenting historical data that accurately reflects the state of affairs post-token swap is not just a corrective measure, but a regulatory imperative. Such transparency will ensure that the chart does not perpetuate a false narrative of ERG'S price history but instead provides a truthful and comprehensive account. Our appeal to revise the EFYT/ERG historical price chart isn't whimsical or manipulative. It's rooted facilitating an accurate perception of the token's past trends to inform future decisions. I urge you to rethink the approach here. Let's ensure that ERG's historical data is represented as faithfully as PancakeSwap's, Ethereum's, or any other coin on your platform. It's about equity, transparency, and above all, accuracy.

submitted by /u/JustALittleBetter
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments