Reported 2 days ago
xMoney, a prominent Web3 payment startup, has launched a new multipurpose token, XMN, on the Sui blockchain, sparking concerns among investors of the existing UTK token regarding potential dilution. The announcement indicates that UTK will be deprecated, with holders given options for conversion that may significantly reduce their stake, intensifying worries about governance and financial exposure. As investors react, UTK has seen a notable price drop, while xMoney defends the new token's value, planning further clarity through community discussions.
Source: YAHOO