Dear Hotbit Users
Hotbit has launched Mantra DAO (OM) at 21:00, August 17th, 2020 (UTC+8).
Since Mantra DAO (OM)‘s early stage of development, Hotbit has been optimistic about the future development of the project. Hence, Hotbit has actively invested a relatively huge amount of shares in the project, and meanwhile transferred the possessions of certain amount of shares to its VIP users. At the same time, Hotbit has also launched an IEO token sale of Mantra DAO (OM) on Hotbit Polaris, with 50,000 OM available to Hotbit community and the unit price being 0.06 USDT.
After the trading function of Mantra DAO (OM) is available on Hotbit, Hotbit has provided an extra USD$ 100,000 worth of assets and OM tokens to provide liquidity for the project, and planned to distribute 50,000 OM IOU to IEO participants at 22:00, today (UTC+8) and then distribute OM IOU to our VIP users at 23:00, today (UTC+8).
However, despite the fact that we have already provided a relatively huge amount of support in liquidity, we have still underestimated the passion of OM supporters who have already pushed the unit price of OM above USD$ 1 before 23:00, today (UTC+8). Consequently, by the time Hotbit distributed relevant amount of OM IOU for its VIP users on schedule at 23:00, today (UTC+8), we have witnessed a massive dumping of OM tokens, which thus caused relatively huge loss to part of our users, and also formed a negative impact on the brand image of the project.
We hereby truly apologize for this issue, and will examine all our negligence of risk control during the whole process. Meanwhile, we hope our users to continue support Mantra DAO.
We hereby ask all users who have purchased OM tokens during 21:00-23:00 today (UTC+8) with the unit price of over 0.3 USDT, and suffered from the loss to submit support tickets to us .After verification process, we will provide compensation for part of or all loss for relevant users.
Support ticket link:https://hotbit.zendesk.com/hc/en-us