🚨 DeepNode Update ($DN ): What Happened and Recovery Plan
The DeepNode Foundation has broken its silence regarding the recent price collapse. Here are the key points from the official statement:
📉 The "Backstab" by the Liquidity Provider
To ensure the launch, the Foundation had deposited part of the $DN supply as collateral with a Liquidity Provider (LP). The LP violated the contract and massively dumped (sold) the tokens on the market.
🛡️ Market Makers' Response
Official Market Makers, suspecting an exploit, temporarily removed liquidity to protect the protocol. This liquidity vacuum, combined with the LP's dumping, caused the price to plummet vertically.
🛠️ Action Plan & Recovery
Fund Recovery: Exchanges have started freezing the assets of the responsible parties. Negotiations are ongoing for the return of funds.
Buyback & Burn: All recovered funds will be used to repurchase $DN on the market and permanently burn them.
Stabilization: The Foundation and partners are gradually reinjecting capital to restore liquidity and stabilize the price.
Legal Action: The Custodian (a well-known trading company) is also under investigation for allowing the irregular release of tokens.
💡 Current Status
The responsible parties have exhausted their tokens for sale. The team asks for patience as they work with partners and exchanges to "right the ship".
