VERT drops to $0.002 despite controlled distribution plan, users furious

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Mikhail Vnuchkov

19.01.2025

VERT drops to $0.002 despite controlled distribution plan, users furious — During the presale, the VERT token price reached $0.4

The creators of the dApp continue to train their audience to stop expecting free money.

During the presale, the VERT token price reached $0.4, with expectations that it would at least hold that level. Especially considering the token distribution plan, which included a gradual release of 20% TGE over the first three months in equal installments and another 10% monthly for the next three months. This was intended to prevent a token dump on exchanges.

However, this plan failed, as the token dropped to below $0.01 within hours of trading and continued to plummet to $0.002.

As a result, the project’s fully diluted valuation dropped from over $3.3 million to $2.3 million, while daily trading volume fell to $1.33 million. According to Cryptorank, the majority of trading volume was recorded on Bitget ($532,000), Gate.io ($390,000), and MEXC ($356,000).

Controversial potential

The project’s creators aim to maintain user interest by promising a wallet redesign within the next two weeks. The update will include transaction history, date and type filters, a simplified interface, and additional features such as tracking current crypto asset prices.

However, most community members remain dissatisfied, both with the token withdrawal mechanism—which allows users to transfer only about a third of their earned tokens to exchanges, even after completing all tasks—and with technical issues that developers have promised to resolve promptly.

As a result, the Vertus Foundation’s channel is overflowing with angry messages from disgruntled users, and the project is teetering on the edge of gaining a reputation as a scam.

That said, if the creators’ goal was to raise a few million USD from users to develop and improve their wallet, they succeeded. One of the conditions for receiving VERT tokens was transferring at least 0.1 TON to the Vertus wallet, which most of the 4.5 million participants did.

The crypto community now awaits further developments and the response from exchanges, which regularly delist non-promising projects.

From the perspective of the GameFi industry, 2024 will go down in history as the "Year of the Hamster." However, some skeptics believe the creators of Hamster Kombat have triggered a user trust crisis that could threaten not only clicker games but the entire game development sector.

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VERT drops to $0.002 despite controlled distribution plan, users furious

Controversial potential

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