Dear Valued Community,
Today makes it one month after launch and we owe you all a proper and honest explanation, and that is exactly what we intend to give you. This might be a bit long but it explains what happened, the current situation, and the steps we are taking moving forward.
From January through approximately June, our platform went through a rigorous audit and security review.
During this period, we became aware of fraud allegations surrounding our token.
Because of these allegations, it became necessary for us to pause withdrawal operations entirely while the investigation was carried out.
We understand that this was a long and frustrating wait for the community. We are deeply sorry for the stress and uncertainty the delay caused many of you.
Despite the ongoing audit, the dev continued making payments and trying to settle all pending withdrawals.
By April, approximately $16,000 had been paid out to members of the community.
A few payments of more than $5,000 were also made to workers during this period and we kept trying our best to pay more in other month's.
We want to be clear that we took the allegations seriously and cooperated fully with the audit process. We did this because the integrity of the project and the safety of your funds matter to us above everything else.
The audit was completed around late May to June and we were preparing to move forward and restore withdrawals immediately after the token launch.
However, we were faced with an unexpected and unfortunate personal situation involving our dev. This once again caused a delay in the withdrawal process. The situation was completely unforeseen and beyond our control and we ask for your understanding and compassion during this difficult time.
NIGE was launched on Blockfinex as planned on June 18.
A few hours into trading, we noticed that the price was going down, even though liquidity had been provided to the project for users to be able to sell at the exact price they bought the presale.
We then found out that the Blockfinex team had sold more than 20 million NIGE tokens which was not part of the agreement made between the dev and the exchange team.
The Blockfinex team apologised and promised to make things right. However, they have not fulfilled that promise up to this day. The agreements between the dev and the exchange team were not followed by the exchange.
During the launch, there was also an unexpected spike in gas fees. Our team was not informed in advance that this would happen and we were equally concerned when members of the community began asking why the gas fees had increased.
We contacted the exchange team for clarification, but we did not receive a clear explanation for the sudden increase.
After several discussions, the gas fee was eventually reduced to $2.
However, we still considered the $2 fee outrageous. Enough liquidity was available for all NIGEnts to sell their tokens.
Moving forward, people who still hold NIGE tokens will receive the equivalent value of their holdings.
We are currently reviewing the available options and exploring alternative solutions. Our goal is to ensure that holders are properly supported and that we find better ways to provide services to them.
The NIGE team is still active, and we are still here. We remain committed to the community.
We are working to provide better services, address all outstanding concerns, and communicate the next steps as clearly as possible.
We also want to address something directly and without hesitation.
The circulating claim that we scammed the community of $1.5 million is completely and categorically false.
Our total pending withdrawals currently stand at approximately $37,000.
This amount covers both gems and eggs of our users. When we include the funds belonging to members who are still nesting with us, the total comes to approximately $60,000 to $70,000.
These are figures that we are fully prepared to support with verifiable evidence.