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- According to the Dreamr organization, their token release was spoiled, thus they filed a lawsuit against the allegedly responsible stars to reclaim their funds.
The debut of Dreamr App’s native token DMR, which is based in the Bahamas, was scheduled for August 31, 2021. It was, however, postponed until September 12, 2021. Furthermore, the additional token releases caused even more issues. These delays caused the DMR token to lose momentum and lose 93 percent of its value within 90 days of its launch.
One DMR token was worth roughly 0.13 USDT on the planned launch date. During the hold-up, it performed admirably and was immediately dispatched after the launch. Since then, it has been worth approximately 0.0015 USDT.
What is Dreamr App?
The Dreamr app was established in 2015 with the goal of creating an ecosystem where users could support one another’s aspirations.
The Dreamr APP is a mobile application with an additional blockchain layer that is used to fund initiatives within the app.
Users of the app can announce their aspirations in written or media format in order to get support, start crowdfunding campaigns, or develop partnerships with other users to make their dreams a reality. Graphic designers and software engineers looking for new chances are among the app’s users.
Dreamr’s governing money is DMR tokens. Users may either earn DMR tokens by engaging in giveaways within the app or buy them on the Bittrex Global trading platform. Holders of DMR tokens can rate modifications to the app’s roadmap and policies.
Must-know facts about the delay
First, there was a delay.
The first postpone pushed the launch date out to September 7 from August 31. Delchain’s CEO, Bruno Macchialli, made this decision on his own, citing extra due diligence issues. However, press releases were ready to go at the moment; Bittrex Global had already been paid and accepted a DMR token market open date.
The Dreamr team claims that Macchialli made this unjustified delay because he required time to send specific assets through Delchain before putting them on the Bittrex exchange. On September 12th, tokens were distributed.
Macchialli not helping with the release
On November 17, more issues emerged when the Dreamr team asked Delchain to release their DMR tokens that had been locked up. Delchain was the custodian, and these tokens held by Delchain’s CEO were set to be released between 90 and 120 days after the first token offering.
Macchialli, on the other hand, came up with a number of justifications for not releasing DMR tokens.
First, Macchialli claimed that before DMR tokens could be issued, Delchain and Deltec Bank needed to hold a video conference. Because the video conference was not mentioned during the token release planning, the Dreamr team claims it was a distraction tactic.
According to the Dreamr team’s allegations, Delchain and Deltec Bank got a letter from a third-party alleging fraud on their accounts a few days later.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
