i’ve read through the comments, and i understand where everyone is coming from
firstly, this sucks. no platform wants to be in a position where terms are changed. there is nothing to gain from doing that, and i fully recognize how frustrating this may feel
here is what happened:
the billions team came to us in March that there's major exchange listing obstacle with 5.6% day 1 launchpad unlock and needed to revise the terms (with lockups)
we explored several alternatives, but ultimately could not land on a solution that satisfied all parties with a viable path to launch
while we don't agree with it in principle, the truth is, tge in the current environment is hard. at the time, polymarket implied only around a 40% probability of billions launching above the breakeven level of 100mn FDV, meaning the expected value of the launch was below the raise valuation (today, that number is around 80%)
as a platform, the last thing we want is for users to lose money. so we pushed for a full refund option to be included to make users whole (option A)
that said, i fully understand the frustration. nobody wants to see the structure they originally signed up for change. we will speak with the billions team again after all the feedback today.
will be back with updates.
显示更多
