This is how a Trading Platform LogX Ruined by the Owner

LogX is a decentralized finance app designed to trade different assets including cryptocurrency and real world assets. It offers a seamless trading experience like centralized exchanges but with zero transaction fees. Moreover it is the fastest trading app which has an easy to use interface.

I have been trading on logX since few months and i really liked it for the zero fees transaction , my experience with this defi platform was very good till before the token generation event which took place yesterday when the trading for the token Logx went live on different exchanges.

A huge number of people were using LogX platform for trading their favourite assets since it was launched. LogX team was airdropping their token to the traders and liquidity providers before the TGE, hence a lot of people were farming LogX airdrop .

src

LogX team was very good and responsible throughout the whole journey but they ruined it all upon the TGE. The people who were admiring the team since begining strated to criticize them for the wrong deeds they done.

First LogX team set trouble making ways to claim airdrop tokens. They made it difficult for everyone to claim as it was planned to prevent users to access tokens so that the team can dump at good price.

Usually projects allow claiming of airdrop some days before the listing or atleast a day before but LogX allowed claim half hour before listing which does not stop here, they allowed claim on logX network which required to bridge tokens on arbitrum chain to be able to trade.

src

These all things does not hurt if the claiming is smooth i means if there is no delay in the whole process. When the claim went live for logX , no one was able to claim tokens. The team was holding transactions on purpose. It was all planned to dump team bags.

LogX trading price started at $0.25 which straight dumped to $0.04 in few hours. There were a few people who get success to claim the tokens while others are still struggling to get their tokens after the 24 hours. This shows that how LogX team ruined a good project and lost community trust.

The LogX discord group is full of critics from users, everyone is yelling at the team as the team rug their own community. This is a shame for the LogX team. They have already unloaded their bags disappointing community.

I understand that not all projects are like LogX , there are good companies out there which think more about the community rather than filling their bags. I really admire those all teams and owners.

However the bad actors like LogX are really spoiling the image of crypto. There should be some sort of legal ways to stop these kind of corruption. I know it is difficult to avoid such kind of bad actors but we really need solution to these issues who spoil crypto image badly.

Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.

Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.

About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.

Posted Using InLeo Alpha