Decentralized arbitration exchange IAO raises controversy

On April 26, the scheduled initial airdrop of Xirtam token (IAO) was held on AlienFi’s decentralized platform Arbitrum. canceled minutes before launch.

It was not immediately clear who was responsible for the cancellation. In a series of screenshots shared on Twitter, AlienFi alleged that, unbeknownst to the development team, Xirtam conducted a “seed sale that sold at 3 times + below the strait price” before IAO and Xirtam decided to “cancel” after AlienFi’s developers found out. event, leading to a dispute over pricing.

According to a post on April 20, Xirtam was previously scheduled to be offered in two parts with Fjord Foundry liquidity protocol and a private and public sale with AlienFi. An IAO with AlienFi was scheduled for April 26 with a goal of a total raise of 350 ether (ETH) for 50 million Xirtam tokens.

According to data from Fjord Foundry, the presale for Xirtam ran between April 23rd and April 26th, totaling $3.9 million. In a statement on April 26, the AlienFi developers said the launch was canceled “5 minutes early [it was] It’s supposed to start. Cointelegraph has reached out to Xirtam for comment but has not received a response at the time of publication. None of the claims made in the story have been independently verified by Cointelegraph.

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This is a developing story, and more information will be added as it becomes available.