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Camelot Cancels Launch of OnChain Trade on Launchpad

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On February 23, Camelot tweeted that it had decided to cancel the launch of OnChain Trade on Launchpad, and clarified the previous speculation about Launchpad:…

Camelot Cancels Launch of OnChain Trade on Launchpad

On February 23, Camelot tweeted that it had decided to cancel the launch of OnChain Trade on Launchpad, and clarified the previous speculation about Launchpad: 1) The sales model is not as rumored, but can be adjusted freely according to the requirements of the project (hardcap, cap/wallet, etc.). 2) From the beginning, we charged 2% for OCT’s fundraising activity. Because we want to support the ecosystem and promote the transition of the agreement from zksync, this setting is far below the market price. 3) After putting forward the sales model, the OCT team also confirmed on several occasions that it could not cooperate with other platforms to launch IFO at the same time.

Camelot clarified OnChainTrade’s accusation of speculation and cancelled the IFO of OnChainTrade

Interpretation of the news:


Camelot recently announced its decision to cancel the launch of OnChain Trade on Launchpad. This came as a surprise to many in the cryptocurrency community who were eagerly awaiting the launch of the project. While there was speculation about the Launchpad, Camelot has now clarified the sales model.

According to the tweet, the sales model for OnChain Trade on Launchpad is not as rumored. The project team has the freedom to adjust the sales model according to their needs. This includes factors like hardcap, cap/wallet, and other requirements. This clarification should come as a relief to the project team, who can now make the necessary adjustments and move forward with the launch.

Camelot has also revealed that they charged 2% for OCT’s fundraising activity from the outset. This was done to support the ecosystem and promote the transition of the agreement from zksync. As per the tweet, this setting is far below the market price. This highlights Camelot’s commitment to supporting the growth of the cryptocurrency ecosystem.

Finally, the OCT team has confirmed that they cannot cooperate with other platforms to launch IFO at the same time. This is an important condition as it ensures that the project team can focus on the Launchpad launch without any distractions. This decision should also help to prevent any potential conflicts that could arise from simultaneous IFO launches on different platforms.

In conclusion, the cancellation of the OnChain Trade on Launchpad’s launch may come as a disappointment to some in the cryptocurrency community. However, Camelot’s decision to clarify the sales model and commitment to supporting the ecosystem should be commended. The OCT team can now make the necessary adjustments and move forward with the launch. The decision not to cooperate with other platforms to launch IFO at the same time is a wise move that will help to ensure the success of the project.

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