An Official Statement.
SaveTheKids :
At 9:34pm on Launch day of this project, I noticed a few influencers tweeting about it, I had never heard of it prior to this but the project seemed to have a lot of hype. I dm’d Faze Kay, asked if he had pre sale. He said he did, I asked a few questions about tokenomics and then sent BNB to invest.
From 10:52pm-10:54pm SaveTheKids dumped 50%. I had invested my own money, I did not get it for free, I did not promote it, I was not involved in any of the marketing, plans etc, I did not know the project existed 2 hours before it launched. Due to it dumping 50% in 2 minutes, I panicked and started to sell off parts of my tokens to avoid losing money. I could see the huge sell orders being placed in by presumably the people who had promoted it. It was either begin to sell, or get dumped on. And considering I had not promoted it to any of my fans, I made the decision to begin selling in small chunks.
I never ever promoted the project anywhere, I did not tell anyone about it, many Influencers were tweeting it every 5 minutes, I did not once mention it on social media.
I had no idea this dump was going to occur, I had no involvement with the project besides having invested money into it, If I had of known that it was going to be dumped right away then I would not have invested, however by the time I’d realised it was too late. I’m incredibly sorry for everyone who lost out on this and I was wrong to invest in the project.
I was also not aware there was supposed to be an anti-whale dumping protocol.
XCAD Wallet Selling :
A wallet screenshot has been shown of me selling 2,000 XCADs, this however only showed the sell orders. I had bought roughly x2 the amount of tokens that I have sold, that wallet started with 0 XCAD’s and holds 1,936 now. I will attach the screenshots below of the rest of the orders, which show the other buys and sells.
I am now completely aware of how wrong I was to be trading my own token, I was mostly using profits from farms to accumulate more. I was not fully aware of how wrong it is to buy your own token, this is a huge mistake, although the other founder of XCAD has a wealth of experience in crypto, I do not have as much, and did not realise this was so wrong. I am extremely sorry. I have seen multiple other founders trade their own assets, such as Charlie Lee, Vitalik, which doesn’t excuse it in the slightest however it contributed to my naivety. I will no longer be trading XCAD’s and all team tokens are locked for 2 years.
Conclusion :
It breaks my heart to write this, however the whole team have been working relentlessly to deliver the MVP and pursue the vision. The last thing I ever want to do is allow for an error from myself personally, to effect XCAD, the team, or the community. With this in mind I will be stepping down from role at XCAD. Trading my own token is inexcusable, despite not having ill intentions, I cannot allow my mistakes to affect the project. I’m going to take some time to evaluate everything and work to be better in the future.
