Onchain Trade cancels IF0 launch on Camelot due to platform restrictions

02/22/2023 05:37 • Tech Ticker • 122 views

On February 22nd, Onchain Trade announced on Twitter that it had canceled the plan to conduct IF0 on the Camelot platform on February 27th. Onchain Trade said that the project was negotiating with Camelot two months ago on the issue of launching IF0 at 0 fee, and was later told that it would charge 2% of the fee, and was required to only issue IF0 exclusively on Camelot platform, and could not cooperate with other platforms to launch IF0 at the same time. Onchain Trade finally chose to end the cooperation and only conduct IF0 on its own portal.

Onchain Trade disputes with Camelot and announced the cancellation of IF0 plan on the platform

Interpret the above information:

On February 22nd, Onchain Trade, a blockchain-based trading platform, took to Twitter to announce the cancellation of its plan to conduct the launch of IF0 on the Camelot platform on February 27th. IF0 represents Onchain Trade’s foray into the world of native cryptocurrencies. According to the announcement, the cancellation came as a direct result of the platform’s restrictions.

The Onchain Trade team revealed that two months ago, they began negotiations with the Camelot platform on the issue of launching IF0 at zero fees. However, in a sudden change of events, Onchain Trade was informed by Camelot that they were going to charge them a 2% fee for conducting the launch of IF0 on their platform. In addition, Camelot placed a condition that if Onchain Trade chose to launch the cryptocurrency on the platform, it could only issue it exclusively on Camelot’s platform and could not cooperate with other platforms to launch IF0 at the same time.

The sudden shift in terms did not sit well with Onchain Trade, which saw it as not only disadvantageous but also contrary to the company’s fundamental principles. They, therefore, made the decision to end the cooperation with Camelot and opt to conduct the launch of IF0 only on its portal. In essence, the restrictions imposed by the Camelot platform not only jeopardized the launch of IF0 on its platform but also hampered Onchain Trade’s desire to achieve the widest possible adoption.

This announcement of the cancellation of the launch on Camelot raises numerous concerns regarding platform restrictions and partnerships. Such limitations make it difficult for blockchain startups to engage in mutually beneficial relationships that would help them achieve their intended goals. However, with the cancellation of IF0 launch on the Camelot platform, Onchain Trade has demonstrated its willingness to adhere to its ideals and operate as transparently as possible.

In conclusion, Onchain Trade’s decision to end cooperation with Camelot and pursue its IF0 launch on its portal is admirable. It demonstrates the blockchain startup’s commitment to its goals and principles, even in the face of challenges. Moving forward, blockchain startups need to identify compatible partners and collaborations that will enable them to achieve common goals and push the boundaries of the blockchain industry.

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Onchain Trade cancels IF0 launch on Camelot due to platform restrictions

Onchain Trade disputes with Camelot and announced the cancellation of IF0 plan on the platform

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