Sabitlenmiş Tweet
Project Update:
After reviewing the current situation, we’ve requested delisting from @MEXC and are stepping away from the current setup.
MEXC will proceed with delisting on April 26 and rest assured that users will still be able to withdraw their holdings after the delisting.
This wasn’t a light decision at all.
The core issue is simple:
Despite a reported raise during the IDO phase, the actual net capital raised was effectively 0 due to large-scale refunds.
At the same time, fee obligations were still applied in stablecoins, regardless of the final capital raised.
Without available liquidity to cover those, token allocations were used to settle those costs.
This created immediate and uncoordinated sell pressure, without real liquidity backing the market.
The result:
– heavy sell pressure
– no meaningful USDT-side liquidity
– an unbalanced order book from day one
Under these conditions, the market could not function properly.
We made multiple attempts to stabilize the situation.
But without real liquidity and with limited control over parts of the structure, continuing would only create more damage for users.
We take responsibility for the outcome.
We should have approached the launch and liquidity structure differently.
That’s on us.
This is not about a single party.
It’s about a launch structure that failed to align capital, liquidity, and incentives.
RAX, as it exists today, ends here.
But the idea doesn’t.
We will take time to reset, rethink the structure, and rebuild from the ground up.
No rushed relaunch.
No shortcuts.
To everyone who supported us, thank you!
We’ll communicate next steps when we’re ready.
English
