Gambling and decentralized finance project Mpeppe is releasing 25% of the tokens it owes to investors through a new claim portal, according to Nov. 26 reports from tokenholders.
However, some investors are complaining that the token lacks liquidity and that they can’t even trade it.
In August, some investors accused the project of holding a fake presale, as it accepted crypto for the tokens without delivering them to recipients.
Blockchain data at the time showed that all tokens were held in a single address and had not been moved.
The project’s interface requested numerous pieces of personal information, including the user’s phone number and email address but did not ask for the buyer’s crypto address where tokens could be sent.
Two tokenholders contacted Cointelegraph on Nov. 26, both of whom asked to remain anonymous.
They both stated that the project has now launched a claim portal that asks users to connect their wallets.
One of them said that they had successfully claimed 25% of the tokens owed to them, although the remaining tokens have still not been delivered.
One user provided a screenshot of the app’s interface, which declared that more of the tokens will be available on Dec. 25."
Mpeppe claim page. Source: Mpeppe user.
Blockchain data shows that the project is using a standard airdrop contract to deliver the tokens. Over 700 users have claimed their tokens so far.
Mpeppe claims. Source: Etherscan.
Although token deliveries seem like good news, one of the users claimed that the token has no liquidity on Uniswap and apparently cannot be sold:
“I have entered $1,600 and am a semi-experienced investor in crypto. However, after receiving the claim 1) Only 25% of the claim was allowed to be claimed 2) The coins are useless, you can not trade them, they hold no value on Uniswap as you attempt to exchange for ETH 3. There was talk about release on BitSwap on day one — have not seen any of that.”
Attempting to sell Mpeppe on Uniswap for either Ether (ETH) or USDC (USDC) produces a “no routes available” error message as of Nov. 27.
Mpeppe Uniswap error message. Source: Uniswap.
Cointelegraph contacted Mpeppe through its official email address but did not receive a response by publication time.
On Oct. 30, Mpeppe announced that it launched a Telegram gaming platform. The team also claimed that it is preparing to launch an online casino, which will allow users to bet using the Mpeppe coin.
On its official website, the project states that it is developing a mobile application that will be carried in the Google Play and Apple App Stores.
