Multimillion-Dollar U-Turn: MEXC Surrenders to Grimace Community

On December 19th, Odysseus, the person behind Grimace arranged a live event that turned his followers into millionaires overnight. This massive payout was the result of MEXC, a trading platform, adding the token to their futures market without getting a thumbs up from the community.

Breaking Down the Conflict: A Simple Explanation

In the spring of 2023, a new crypto project called Grimace burst onto the scene, quickly grabbing attention and making its early backers wealthy. These folks weren’t just about making money; they also gave plenty to charity. They became known for handing out cash in public and setting up competitions with big cash prizes in various games.

Grimace first appeared on MEXC on June 12, 2023. At the start, users were drawn to the low fees. But the atmosphere changed when, in October, MEXC listed Grimace on its futures market without the community’s consent. This move wasn’t what the Grimace team had in mind and seemed like a big overstep by the exchange.

When attempts to talk things out failed, Odysseus, a leading figure in the Grimace community, suggested everyone move their tokens from MEXC to another platform, BitGet. This nearly cleared out MEXC’s trading activity, reducing their share of Grimace tokens from 40% to just 1.5%.

MEXC’s lack of a meaningful response led Odysseus to lay out a plan. He suggested the community set up specific trades on Grimace futures, planning to drop the price from $45-46 to below $40. He then made this happen and swiftly increased the price to $90. This strategy was feasible because the regular market was quiet.

MEXC’s bot, designed to profit from small price changes, ended up losing all its money in this event, which then benefited the Grimace community.

The exchange lost several hundred thousand dollars due to this. In response, MEXC’s higher-ups reached out to Grimace’s creators. But they didn’t stop listing Grimace on futures, leading to more aggressive moves and a big showdown later.

December 19th – Grimace Community’s Decisive Win

That night, Odysseus announced a live stream on the INV TRADING channel.

He planned to create a bigger New Year’s miracle, aiming to significantly enrich his viewers at the exchange’s expense.

He set trades between $35-45 and then sharply increased the price to $358 per token. This move led to big profits for his viewers, especially those who took on extra risk with leverage.

At the same time, the regular market price jumped to $852. MEXC’s bot couldn’t keep up due to a lack of funds, and Odysseus’s viewers and INV TRADING took full advantage.

Eventually, even the platform struggled to display the correct profit percentages due to the huge increase.

Just an hour after these events, a notice about delisting Grimace was issued. Usually, such announcements come with a week or a month’s notice, but this time, people had less than two days to act.

This marked a clear victory for Grimace. We’ll keep an eye on what unfolds next in this very active crypto community:


Main, News

Leave a Reply

Your email address will not be published. Required fields are marked *