Summary

On December 19, MEXC, a trading platform, suffered a significant financial loss after adding Grimace to its futures market without community consent. This move went against the team’s vision and led to a series of actions by the Grimace community, resulting in a decisive win for them.

Introduction

In early 2023, Grimace gained popularity in the crypto world, not only for its financial success but also for its involvement in charitable activities. However, things took a turn in October when MEXC added Grimace to futures without consulting the community. Efforts to resolve the issue peacefully failed, leading the community to transfer their tokens to BitGet and reduce MEXC’s trading volume for Grimace.

Main Points

• MEXC’s decision to add Grimace to futures without community consent caused a rift between the platform and the Grimace community.
• Odysseus, a key community figure, advised the community to transfer their tokens to BitGet, substantially reducing MEXC’s trading volume for Grimace.
• In an attempt to take advantage of the situation, Odysseus suggested strategic trades on Grimace futures to manipulate the price, resulting in significant losses for MEXC.
• On December 19, Odysseus orchestrated a move to raise the price of Grimace significantly, leading to significant profits for his followers and causing MEXC’s system to struggle to match the surge.
• Following this victory, MEXC announced the delisting of Grimace, giving users a shorter notice period than usual.

Conclusion

MEXC’s decision to add Grimace to futures without community consent resulted in a series of actions by the Grimace community that ultimately led to a significant financial loss for the exchange. The community’s strategic trades and Odysseus’s orchestrated price manipulation resulted in a decisive win for the Grimace community, leading to MEXC’s delisting of the token. This episode showcased the power of a united community in the crypto world.