Effort Economy
Published in

Effort Economy

Resolving Issues Before Moving Forward

ANSWERS TO YOUR TOP 2 QUESTIONS:

  1. All 4000 EGLD has been added to Liquidity Pool
  2. The 500,000 tokens sell order

4000 $EGLD ADDED TO LIQUIDITY POOL

The reasons for not adding all of it at the same time?

  • Allow people to add in LP before swaps are enabled
  • Allow room for LP size to increase as the number of people trade

The 500,000 $EFFORT Sell Order

Sell order was triggered in the DEX because a threshold for up trend in violent price swing was met within the first minutes of swaps being enabled.

Series of events:

  1. Listing price from $.29 reached to $.72, in a matter of seconds.
  2. The sell order failed $.71 and only initiated at $.43
  3. The problem there is it went too high too fast: -The bots that set slippage really high to buy at the starting price will be able to dump the token and take their EGLD.

Results

By allowing the market makers to execute the sell order to avoid aggressive price swings, more people can buy the tokens and allow a more positive trading environment. This paid off, more people own $EFFORT now. We avoided a scenario where we have an aggressive pump to 20–50X in the first day and only a select few will be able to take the community’s liquidity.

Development

The wallet that executed sell order has also bought back $EFFORT and used 70% of the EGLD made. The bots (enemies) used by outside parties are:

https://explorer.elrond.com/accounts/erd1hjtzyudrl7wkxmxsuuhm9c7dg3flta0x0fmmc3jqtqwuallw9ujslepvcy

NO ONE WHO PARTICIPATED IN THE COMMUNITY LP RAISE HAS LOST ANYTHING. (will be updated for price changes)

WE’RE HERE LONG TERM AND WE WILL BE BUILDING WITH OUR COMMUNITY

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store