The merger process of $FET , AGIX and OCEAN into ASI has not yet been completed, which has harmed many people, today we received information that Galxe (GAL) will be rebranding become Gravity (G). read here.
During the merger process of the 3 AI tokens, I had a position in Future for OCEAN and it was forced to close with a loss.
Until now, I don't know whether traders who experience losses in the Future market will receive compensation or only those who have assets in spot will be converted according to a predetermined exchange rate.
For this reason, I then wrote that the exchange should protect investors/traders from the actions of developers.
When dev plan to take a certain action, I'm sure it's because they see potential profits. And investors/traders should not have to bear the costs of that action.
Even if an action must be taken then any form of compensation must be something they are obliged to do before the exchange decides to facilitate the process.
Just imagine, today you open a position in Perpetual Future with a certain trading plan. Then suddenly you get a notification that the pair you are trading will be delisted because the dev will take an action so you have to close it no matter whether you are making a profit or a loss.
It's very fortunate that I don't have a position in GAL perpetual. If I had it then I would experience 2x losses in less than a month.
I'm afraid, if this precedent doesn't get attention, then I'm afraid tomorrow we will hear again that dev coin A will be rebranding, dev coin B will be renaming, dev coin C blah blah blah you name it
Frankly, I'm afraid to open a position in perpetual futures.