Onchain Trade Cancels IF0 Launch on Camelot Platform

02/22/2023 05:37 • Tech Trends • 102 views

On February 22nd, Onchain Trade announced on Twitter that it had canceled the plan to conduct IF0 on the Camelot platform on February 27th. Onchain Trade said that the project was negotiating with Camelot two months ago on the issue of launching IF0 at 0 fee, and was later told that it would charge 2% of the fee, and was required to only issue IF0 exclusively on Camelot platform, and could not cooperate with other platforms to launch IF0 at the same time. Onchain Trade finally chose to end the cooperation and only conduct IF0 on its own portal.

Onchain Trade disputes with Camelot and announced the cancellation of IF0 plan on the platform

Analysis based on this information:

On February 22nd, Onchain Trade announced on Twitter its decision to cancel its plan to launch IF0 on the Camelot platform. The cancellation came amid negotiations between Onchain Trade and Camelot over the terms of the launch, which failed to reach a satisfactory conclusion.

Two months ago, Onchain Trade had started talks with Camelot about the possibility of launching IF0 at 0 fee. However, it was later informed that Camelot would charge a 2% fee and require the exclusive issuance of IF0 on its platform. Onchain Trade was also prohibited from collaborating with other platforms to launch IF0 simultaneously.

It is evident from Onchain Trade’s announcement that these terms did not meet their expectations, which ultimately led to the cancellation. Onchain Trade’s decision suggests that they were unwilling to compromise on these issues, and they preferred to go ahead with the launch under a different arrangement.

It is possible that Onchain Trade felt that the terms were too restrictive and could potentially limit the reach of their product. Moreover, the requirement for exclusive issuance on the Camelot platform could have reduced Onchain Trade’s flexibility to work with other platforms, and this may have been unattractive to them. Additionally, the 2% fee charged by Camelot could have been deemed excessive by Onchain Trade, making it less viable for them to proceed with the launch.

In conclusion, Onchain Trade’s decision to cancel the IF0 launch on the Camelot platform was likely influenced by the inability to reach a mutually beneficial agreement with Camelot. The announcement highlights the importance of open negotiations and the need for parties to be willing to compromise for a successful partnership. The cancellation also demonstrates the significance of flexibility and reach for businesses, especially in the highly competitive world of cryptocurrencies.

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Onchain Trade Cancels IF0 Launch on Camelot Platform

Onchain Trade disputes with Camelot and announced the cancellation of IF0 plan on the platform

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