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

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.

Interpretation of this information:

Camelot, a cryptocurrency platform, recently announced the cancellation of the launch of OnChain Trade (OCT) on Launchpad. In a Twitter post on February 23, the company clarified various speculations regarding Launchpad. First, the sales model is not as rumored, and can be adjusted depending on the needs of the project. Second, Camelot has consistently charged a 2% fee for OCT’s fundraising activity, which they believe is below market price and is intended to support the development of the crypto ecosystem. Finally, the OCT team confirmed multiple times that they cannot work with other platforms to launch Initial Farm Offering (IFO) simultaneously.

One of the major takeaways from Camelot’s announcement is the flexibility of the sales model on Launchpad. Camelot has disproved rumors that the sales model is set in stone, clarifying that it can be adjusted based on the projects’ requirements such as hard cap, cap/wallet, and other factors. The company’s flexibility can provide more opportunities for projects to succeed on the Launchpad platform.

Camelot’s decision to charge a 2% fee for the fundraising activities of OCT may be viewed by some as a bold move. According to the company’s Twitter post, the fee is well below the market price and aims to support the development of the crypto ecosystem. This may entice more developers and investors to work with Camelot, as they see the company as a champion of the industry.

Finally, the announcement that the OCT team cannot work with other platforms to launch IFOs simultaneously may indicate Camelot’s desire to foster a healthy ecosystem on Launchpad. The scarcity of IFOs on the platform, while detrimental to some projects, may attract investors and developers looking for exclusivity and the opportunity to work with Camelot exclusively.

In conclusion, Camelot’s recent announcement clarifying speculations on Launchpad provides insight into the company’s values and priorities. The company’s flexibility, drive to support the ecosystem, and focus on exclusivity may play a significant role in the development of the platform. Three keywords that summarize this announcement are flexibility, ecosystem support, and exclusivity.