Looks like
@launchonCME wasn't the future of finance.
Dev ended up rugging today; even after his platform was pulling in $70k every few days, he apparently withdrew liquidity from the pools to Binance.
I sold everything weeks ago after the major crash when it ran from 1M to 20M, then back to 3M. I exited at ~3M and washed my hands of it.
I was highly suspicious that the team pumped it and then sold the chart. I want no part of any project where the dev sells on their holders.
After it crashed, it was pumped back up to 8M (maybe by the team and/or a few Chinese holders who were too bullish), but then bled back to 4M, then kept bleeding down.
From what I'm reading now, the dev fully rugged this morning by pulling all liquidity and sending it to Binance. And the token is back to ~500k MC now. Yikes.
It's a minefield these days with seemingly legit projects with active devs who built something up, actually built some sort of revenue flywheel, only to farm the holders with an exit.
Launchpads are in a tough spot, and CME's model of fake commodity coins (tied to only a custom oracle) was novel, but without any kind of backing, it's probably due for a collapse -- it would have ended at zero anyways (the platform did not have the kind of pairings that had any chance of being a runner imo).
Maybe the dev saw liquidity retreating and decided to speed-run the collapse
Still, seeing a dev who apparently spent a month building a project in public only to suddenly rug when he saw the writing on the wall makes holding size in these kinds of projects risky as hell.
Looks like a lot of the holders here lost their shirt.