Sunday, December 10, 2023

SOLCHICKS did upset, could not fulfill the expectations of investors.

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Solchicks, the most talked about project of the year 2021, was launched yesterday. This project of games and NFTs on the Solana blockchain, which had high expectations from investors, did not materialise. Crypto investors had invested a lot of money in this one project. Everyone expected the project to double their investment by 50 to 100 times. But did it happen? Many big names were associated with the Solchicks. More than 15 launch pads had done the work of taking CHICKS tokens to the people. Investors got these tokens in allocation at the rate of 0.05 $. The project was supposed to give it on its website yesterday, around 7.30 pm IST. No one could have imagined what happened in the evening when investors went to Solchick’s website to claim their tokens. Here the claim button was not working for several hours. There was a lot of fear in the market in no time and in view of this, the project made a tweet. The Solana network was blamed for this, and the Solchicks said that their developers are working with Solana’s developers to fix the problem.

Solchicks also said about the lack of Raydium dex system for this, but the thing to understand is that the claim button on Solchicks website was not working, what is the fault of Raydium Exchange for this? If the Solana blockchain could not handle such a small amount of traffic, what would happen next when the use of this blockchain would increase?

Even about 16 hours ago, Solchicks shared a tweet where it was said about the problem of Solana network.

Prior to this, the project mentioned in one of its tweets that Solana’s servers and blockchain could not work properly due to the large traffic of Solchicks.

But the CHICKS token on the centralized exchange MEXC went well and traded there too, but those who had already paid them by relying on this project kept waiting till late night to get their tokens.

India’s famous crypto YouTuber webmastermind gave his opinion about this to Crypto News Hindi. I think what happened yesterday with Solchicks and Solana as well as Raydium shows a lack of systems, but also points to the unprofessionalism of these projects. The Solchicks already knew that their community was growing. When investors were sending funds for allocation, all the data was coming to them and they knew that the website would be overloaded. In such a situation, he had to ask his website, the developers of Solana and the DEX to prepare this strategy in advance so that there would be no problem. The project did not understand the situation properly and as a result, the price of the CHICKS token did not reach as expected. I believe that the Chicks token should have multiplied 50 times, but due to their shortcomings, investors became negative and the price of the token fell. We should hope that the project will do well in future.

Solchicks is now listed on DEX and CEX. Some investments were able to sell their tokens for 0.40$ but slowly the tokens are being claimed and people are selling the tokens. Those who got the tokens would like to exit the project by selling their tokens because the market is negative and on the other hand the bitcoin and crypto market is also falling. In such a situation, Solchicks will have to work very hard to take their project forward and gain the trust of the people.

#SolChicks #Chicks #solana

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