Tics, the crypto behind the blockchain protocol Qubetics, crashed after technical problems had plagued his airdrop launch.
Summary
- Tics Crypto collapsed 97% after reducing the airdrop
- The project blamed a outsourced team for failure
- Qubetics claims that it is building a cross-chain web3-aggregator
High-tech blockchain projects are only as strong as confidence in their technical teams. On Thursday 31 July team addressed The failed AirDrop that ensured that the sign crashed 97%.
The team recognized ‘critical errors’ in the fortress contract during the launch of Live AirDrop. However, the team denied direct responsibility and blamed an outsourced development team, Antier, who is said to be in charge of the fortress contracts.
“We want to emphasize that this issue was not in the control of the core team, but instead we trusted the outsourced team with all the guarantees provided in our due diligence,” wrote the statement of Qubetics.
The team promised a full report on the issue and said that all eligible portfolios would receive the full allocation of tokens. Qubetics also emphasized that it is committed to his route map to build a Layer-1 network that collects the web3 ecosystem, including Bitcoin, Ethereum and Solana.
What happened to the Tics Crypto Aidrop
On July 30, the team was planning to immediately unlock and distribute 10% of the tokens, with the remaining 90% unlocked for the next 90 days at a speed of 1% per day. After the launch, the token initially rose by 950% to $ 2.16 on its peak.
However, technical problems soon emerged. Multiple users reported that they received significantly less than 10% of their allocation, which the team later confirmed. Observers too noted That the daily fortress schedule of 1% contributed to heavy sales pressure, which accelerates the collapse of the token.
