Gambling and DeFi Project Mpeppe Begins Releasing Tokens to Investors

Gambling and DeFi project Mpeppe began releasing 25% of the tokens owed to investors through a newly launched claim portal, according to reports from token holders.

A gambling and decentralized finance (DeFi) project called Mpeppe has reportedly begun releasing 25% of the tokens owed to investors via a newly launched claim portal. However, some investors have raised concerns about the token’s lack of liquidity, rendering it effectively untradeable.

According to reports from token holders, Mpeppe has started distributing tokens to investors. Several users have attempted to claim their tokens by connecting their wallets to the project's platform, as per instructions. One user reported successfully claiming 25% of their tokens, while another shared a screenshot indicating the remaining tokens would be available for claim on December 25.

Blockchain data shows over 700 users have successfully claimed their tokens via a standard airdrop contract. The tokens are being credited to users' wallets, and those who participated in the presale can now claim their respective portions.

However, one investor noted that the tokens appear to have no liquidity, making them essentially unusable. Attempts to trade Mpeppe on Uniswap for Ether (ETH) or USD Coin (USDC) reportedly resulted in a “no routes available” error, suggesting the token has no active trading market. Additionally, promises of a listing on BitSwap also remain unfulfilled, according to the same investor.

The project has previously announced plans to launch a Telegram gaming platform and an online casino that would allow betting with Mpeppe coins. Mpeppe's website also claims the team is working on a mobile app, which is set to be released on Google Play and the Apple App Store.

Despite these assurances, investors are expressing skepticism due to the token's current lack of utility and liquidity.