Chimeras Launch Analysis and Investigation Results

As you know, the Chimeras project had some challenges with the launch of its official token, $CHIM. To keep our word on the transparency and the security of our investors, we held a close investigation of the case and came up with some insights and a resolution.

Having been supported by some of the best launchpads in the market today, and plenty of hype around the NFT game, Chimeras was expected to perform well. Token still managed to do 5X+ from the IDO price but could have done better.

Following a bumpy launch of the project, many of our community members had questions they needed answers for. As we promised yesterday through a pinned message in our Offical Chat on Telegram, we went on to closely analyze the situation and find what happened exactly and how to resolve it.

These are our findings and opinion around the investigation we held:

• Human error on the listing price of $0.06 instead of $0.6 — Regardless of the level of skills and experience, the fact is: human mistakes can happen to anyone. On the 28th of October, at 2 PM UTC, affected by numerous sleepless nights to keep up with the deadline and quality, the wrong listing price was entered (1 small yet crucial extra zero).
• The effort of the Chimeras team to fix the slip — Having realized the mistake, the team put in the effort to fix it, by performing immediate buybacks of over $200,000 and all initial cheap tokens and adding liquidity at a higher price. The team confirms that the tokens from the buybacks will be officially burned.

The resolution

As we held talks with all parties involved, it was evident that all parties were willing to step up and take the relative responsibility and wanted to reach a resolution to support the project’s success long term. As part of that a substantial amount of funds were agreed to be put aside to be spent over next few months to support the project in addition to a larger burn and other additional marketing activities.

In conclusion, we take the security and benefit of our community members as our top priority and keep their interest in top of our mind.