On April 26, the scheduled initial airdrop offering (IAO) of Xirtam token on Arbitrum’s AlienFi decentralized exchange (DEX) was cancelled minutes before launch.
It is unclear which party was responsible for the cancellation. In a series of screenshots shared on Twitter, AlienFi alleged that, without the knowledge of the development team, Xirtam had conducted “a seed sale sold 3x+ below the price of Fjord” ahead of the scheduled IAO and Xirtam ” decided to cancel” after the AlienFi developers discovered the event, leading to a pricing dispute.
According to a post on April 20, Xirtam was scheduled to have a two-part pre-sale with the Fjord Foundry liquidity protocol and a private-public sale with AlienFi. The AlienFi takeover bid was scheduled for April 26 with a total fundraising target of 350 Ether (ETH) for 50 million Xirtam tokens.
According to Fjord Foundry data, the Xirtam pre-sale lasted from April 23-26, with a total volume of USD 3.9 million. In a statement published on April 26, the AlienFi developers said the launch was canceled “5 minutes before it was supposed to start.”. Cointelegraph has reached out to Xirtam for comment, but has not received a response by press time. Cointelegraph has not independently verified any of the allegations mentioned in the story.
This is a developing story, and more information will be added as it becomes available.
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