The mistake that led to the rejection of the plan seriously affected the price of KÜBER. CYBER is still up 89% in the last 7 days despite its recent decline.
The price of the CYBER token fell after a shocking news on CyberConnect’s official Twitter account acknowledged a major flaw in the CP-1 emergency proposal. The error that led to the rejection of the plan had a significant impact on the price of the KÜBER token.
The Commonwealth Treasury was scheduled to issue 1,088,000 CYBER tokens through Snapshot Proposal CP-1. The proposal contained a significant overestimate due to a clerical error.
CyberConnect management immediately saw and noticed this difference. The battle continues The main objective of the saturated proposal was to use community vaults to facilitate trading in pairs such as CYBER-ETH, CYBER-BSC and CYBER-OP. There was a flaw in the plan; only 1,088,000 tokens were actually available for the community treasury.
Although it said that 7,000,000 CYBER-BSC and 3,888,000 CYBER-ETH are in use. The price of the CYBER token fell by almost 46%, according to CMC. The sudden change in conditions left investors and traders scratching their heads. Source: CoinMarketCap However, the CYBER token has not shown resilience to this uncertainty, as the price is still in the red. Over the past week, CYBER has gained over 160% and is still up 89% over the past 7 days despite its recent decline.
CYBER is now trading at $7.23, down 46.88% in the last 24 hours, according to CMC. In addition, the trading volume increased by 109%.