Dear Polker Community,
Thanks for your loyalty and participation in our project. We wanted to provide an update on a few things related to our token sale. At approximately 4PM UTC, our team began adding liquidity to three pools, Uniswap, PancakeSwap and Justswap. It took approximately 12–15 minutes to create and verify the pools as well as manually structure sends to our market maker. Subsequent to that we began sending tokens to the various launchpad participants, starting at 04:18PM UTC and ending at 04:19PM UTC.
Because early sends of the tokens prior to liquidity pool formation has caused projects to have LP’s formed under them, we wanted to ensure that adequate liquidity was layered in and created before distributing TGE tokens.
However, during this time, opportunistic buying occurred primarily focused on our Uniswap V3 pool. Approximately 1.745M PKR tokens were purchased by one address alone . These tokens moved across our ETH <> BSC bridge and were sold in the PancakeSwap liquidity pool. This occurred in the duration prior to and shortly after community TGE tokens were distributed.
A subsequent pump occurred carrying the price to over 16.8x the IDO price before rapidly plunging to their current levels. No other tokens were distributed prior to the community funds as can be seen in our wallet address, therefore all buying and selling pressure occurred using tokens acquired directly from the LP.
To mitigate bot arbitraging we had intended to have the ETH <> BSC bridge closed for the first 30 minutes after launch. However, our bridge provider failed to properly secure the bridge allowing for these funds to move across unabated, enabling a coordinated dump on our most liquid market, PancakeSwap.
To be clear, no tokens were distributed to insiders or other investors at any moment prior to the community distributions (BSCPad, TronPad, BullPerks, Bondly) and no tokens were or have been unlocked for the internal Polker team or platform as per our token primer.
Polker gained no benefit in this ordeal and lost significantly both in our potential token performance as well as the faith in our community — you.
We are deeply saddened that individuals would disrupt the fair issuance of tokens for singular gain, but take responsibility for not being aggressive enough with prevention measures. With that said, Polker has been in development for over 4 years now, and the team worked tirelessly to provide users with next level game play, this is just one day of many on the journey to become a powerhouse in the online casino space.
We’re looking forward to this journey with all of you, our passionate community and trust that you’ll be with us as we innovate and develop💪🏼
We planned on announcing this later but as a sign of support now seems to be the best time to announce that we’ll be releasing a MEGA plan for a:
💰 TOKEN BUYBACK 💰
🔥 TOKEN BURN 🔥
🙌🏼 & AN AIRDROP 🙌🏼
We’ll release the plan shortly. Our community is everything and we will do what it takes to make sure we win together!
Sincerely and humbly,
The Polker Team
