UFC Champion and Celebrity Conor McGregor’s Crypto token did not launch after increasing only 39% of his minimal fundraising target during his 28-hour presale period that ended on Sunday.
The token, developed by Real World Gaming Dao (RWG), only achieved $ 392,315 in USDC of 668 bidders, which far behind $ 1.008,000 minimal requirement to continue with the launch.
After the end of the auction, RWG stated On X that it did not “hit” its minimum increase, and added that all bids are “fully repaid”. McGregor shared The announcement and said, “Ladies and gentlemen, this is real!”
Data on chains it appears that all reimbursements have been processed and a “Settle” batch transaction was used in the rwg.eth Address at Block 22212460 around 3.53 pm Eastern Time. All Refund transactions were cleaned up using USDC via Ethereum.
With reference to “challenging macro -economic conditions” and the “distracting nature of the meme story”, RWG said Decrypt That it has decided to “pause and calibrate again” to launch the token.
A spokesperson for RWG confirmed the refunds and told Decrypt That they “are looking to restart it quickly.”
In a statement shared with Decrypt Prior to the launch, the UFC hunter had insisted that the launch was not “a bullshit token” by the famous approval “, but rather” a real game changer who will improve the crypto ecosystem. “
Sealed bid auction
The real token used one sealed bid auction Mechanism by Axis Finance, designed to optimize the discovery of the price by enabling participants to place private offers on their preferred price.
Their use of Asminance “set a new benchmark” to “Honesty and Transparency in Token Lancing,” RWG claimed, respond to Decrypts to ask.
After the auction period, the system sorted all 668 bids, so that tokens are assigned to the highest bidders until it reached capacity. The last bid is a uniform clearing price for all winners who use this mechanism.
Although the method offered transparency, reduced the benefits of timing and reduced volatility after the launch, it could not determine a clearing price.
Economic
The first failure of the Signals project that the investors of investors take in to the tokens supported by celebrities such as the wider crypto market struggle In the midst of global economic problems caused by President Donald Trump’s “reciprocal” rates.
It did not help that the timing of the launch coincided with what observers claim as a “long -term trade war”, in which US shares see To lose After the rate announcements.
After President Trump one Official meme coin In January, worries About Ethics And Constitutional conflicts Rocked the Meme Coin market.
Data from Coingecko indicate that the Meme Coin market has rejected around 10.9%, which reduces market capitalization to $ 44.5 billion, decrease of more than $ 100 billion at the start of this year.
In February, Argentinian President Javier Milei launched Another meme coin, resulting in Fraud -Appeals And Investor attacks.
There was “market confusion” from “interpreting token as a celebrity memecoin,” RWG said Decrypt. “This framing does not represent the true purpose of the real token.”
McGregor, who indicated as president of Ireland in March, had closely matched the Trump’s economic agenda.
After the announcement of Trump of 20% rates for Irish goods (compared to 10% on British goods), McGregor suggested Ireland should consider leaving the European Union.
Published by Sebastian Sinclair
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