Mpeppe, a decentralized finance (DeFi) gambling platform, has initiated a claim portal allowing investors to recover 25% of the tokens owed to them. Despite the release, many users have expressed frustration over the inability to trade the tokens, as they claim the asset lacks liquidity.
According to reports from November 26, the blockchain casino project has opened up a portal where users can access a portion of their tokens. However, concerns have arisen as investors are unable to trade the tokens due to liquidity problems, leading some to question the token’s value.
In August, the project was criticized by some investors who alleged that Mpeppe had conducted a fake presale by accepting cryptocurrency payments without issuing the corresponding tokens. Blockchain data at the time revealed that all tokens were held in a single address and remained untouched.
The claim portal asks users to link their wallets but does not request the crypto address where tokens could be sent. Instead, it collects personal information such as phone numbers and email addresses.
On November 26, two investors who wished to stay anonymous told Cointelegraph about their experiences. They reported being able to claim 25% of the owed tokens, though the remaining tokens were still not delivered.
One investor showed a screenshot of the app, which mentioned that more tokens would be available on December 25. Blockchain data confirms that Mpeppe is utilizing a standard airdrop contract for token distribution, with over 700 users successfully claiming their share.
While some users see this as progress, one investor highlighted that the token cannot be traded on platforms like Uniswap. Attempts to swap Mpeppe for ETH or USDC resulted in error messages indicating no liquidity.
The investor, who had invested $1,600, stated, “The coins are not tradable, and there’s no value on Uniswap. I was told there would be a release on BitSwap, but that hasn’t happened.”
On October 30, Mpeppe announced the launch of a Telegram gaming platform and claimed that it was preparing to debut an online casino where users can place bets with the Mpeppe token. Furthermore, the project revealed plans to release a mobile app available on both Google Play and Apple’s App Store.