Wirex is launching their IEO on OKEx tomorrow, June 26th. In the meantime, they've also been offering a pre-sale, which started yesterday and runs through the 30th.
Generally, a pre-sale serves as an opportunity to get discounted tokens. However, in this case, Wirex has chosen to charge their existing users DOUBLE what the token will sell for on OKEx:
Wirex attempts to set a tone of FOMO by emphasizing that only a limited number of WXT will be available via the OKEx token sale. But in mentioning the limited number, they don't also mention that those tokens will be available at a lower price... $0.005 as opposed to the $0.01 pre-sale price!
When questioned on Twitter about this decision, Wirex responded as follows:
Apparently being subject to the rules and procedures of the exchange merits a lower price? But the pre-sale tokens are subject to their own rules as well, namely a $500 purchase cap and a 6-month hold on selling! So pre-sale supporters will be paying more, and will also be forced to sit on their tokens for longer.
Is this a pump-and-dump set up, or just a slap in the face of the loyal customers who chose to participate in the pre-sale?
Generally, a pre-sale serves as an opportunity to get discounted tokens. However, in this case, Wirex has chosen to charge their existing users DOUBLE what the token will sell for on OKEx:
Weaponized FOMO
Wirex attempts to set a tone of FOMO by emphasizing that only a limited number of WXT will be available via the OKEx token sale. But in mentioning the limited number, they don't also mention that those tokens will be available at a lower price... $0.005 as opposed to the $0.01 pre-sale price!
Weak justification
When questioned on Twitter about this decision, Wirex responded as follows:
Apparently being subject to the rules and procedures of the exchange merits a lower price? But the pre-sale tokens are subject to their own rules as well, namely a $500 purchase cap and a 6-month hold on selling! So pre-sale supporters will be paying more, and will also be forced to sit on their tokens for longer.
Is this a pump-and-dump set up, or just a slap in the face of the loyal customers who chose to participate in the pre-sale?