Waves Platform CEO Sasha Ivanov Comments Situation with Monkey Capital’s ICO

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by Andy Watson · 3 min read
Waves Platform CEO Sasha Ivanov Comments Situation with Monkey Capital’s ICO
Photo: LSydney / flickr.com

The latest update about Monkey Capital’s ICO and Waves Platform.

Monkey Capital and Waves Platform caused much of a drama for several days together.

In short, back in July, Monkey Capital, an investment fund, launched pre-ICO with COEVAL (COE), a hybrid derivative token that given holders special rights to Monkey (MNY) token, the core asset of the project. On July 4, 2017, COE token was released to the market on Waves DEX  platform, surpassing all terms and conditions.

At first, MNY and COE seemed to converge and form quite reliable equilibrium price. But then COE and MNY slowly began to trade incredibly high volumes, simultaneously pushing the Waves DEX volumes over $2 million making an all-time high.

The question lies in increasing volumes and concurrent decreasing prices, which is nothing less than a common situation in markets. In fact we could observe rapidly depressed prices of COE and MNY and simultaneously aggressively rising volumes.

We asked Waves Platform for comments on this story and got official answer from Waves Platform CEO Sasha Ivanov. Here it is:

“I don’t even know what this token is. I’m not 100% sure it is a scam. All trades and all activity on DEX is public and everyone can find out what was going on there.”

What does it mean to Monkey Capital investors and DEX users? Who shall they blame? Definitely, themselves. It was regularly stressed in media: investing in ICOs is your personal responsibility.

But what about “green mark” on DEX? Let’s take a closer look on DEX How to…

“As you can see some have a green mark on the left [from token name on DEX], it’s to acknowledge you that they have been verified and approved by the community. It gives them more legitimacy. It doesn’t mean that the others aren’t tradable or are scam or fun-coin, rather that the community isn’t supporting them currently. At this time, verification is done by the Waves team.”

In the official Waves’ channel on Telegram Sasha wrote:

“We’ll take the green tick off, and let it trade for now.”

So what kind of verification was done by Waves team? In any case, there is no green mark, so ICO is buried in fact.

Let’s see another Sasha’s statement:

“I don’t even know what this token is.”

Seth Shapiro is a senior advisor of Monkey Capital. And Coinspeaker has information he was talking to Sasha Ivanov about Monkey and its ICO on CoinAgenda Conference in Barcelona a few weeks ago. Sounds like a joke, but couple days after this event COEVAL token got to its high of roughly $1400. And Sasha knew nothing about top-3 token on his platform?

So what’s in the bottom line? Monkey Capital CEO Daniel Harrison says it was a DEX’s bug or someone’s manipulation, which destroyed the ICO on pre-ICO stage. From the other side we have Waves and a number of objective problems with their platform. And on the third side – private investors who want to know the truth and hope for their money back. Our previous article has more than 140 comments already. Most of them don’t judge Daniel Harrison.

Some people say they had troubles with trading COE token. Some assert they lost their tokens under mysterious circumstances.  Also you may see negative balance in your wallet sometimes. Maybe it is due to opened orders. Maybe not. You can not trade while not having WAVES. Because the platform charges all the fees solely in its currency. Everyone should make his own conclusion.

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Andy Watson
Author Andy Watson

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