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Golem clarifies: Transferring 135000 ETH is not for selling, but for staking testing

2024-09-25 08:26

According to Cointelegraph, decentralized computing network Golem responded in its recent report to concerns about the continued existence of the community after transferring over 135000 ETH to a centralized exchange (CEX). This batch of ETH worth approximately $337 million was sent to centralized exchanges such as Coinbase, Binance, and Bitfinex, sparking preliminary speculation about a large-scale sell-off. The Golem report on September 18th assures users that transferring 135000 ETH is not for selling, but for staking testing to ensure operational security and minimize spam interference. The first ETH change in July caused panic throughout the Golem community, especially after Golem deposited 29000 ETH into various CEX in July. The frustration caused by fear began to spread on social media platforms such as Discord for the project, sparking debates among community members questioning CEX's involvement in the individual staking process. Community members accused the team of being vague and avoiding directly answering about the flow of funds, and the situation worsened after the Golem team promised to respond later. In the report, Golem clarified that the movement of ETH is part of their separate staking to ensure uninterrupted and unobstructed operations throughout the entire process. The team also pointed out that using CEX enables them to establish a "controlled environment" for the process and reduce potential "external transaction interference risks". Despite Golem's assurance in its latest report on September 18th, its lack of transparency has left a deep impression on the community. A X user who is concerned about community concerns reiterated the clarification of the report, but pointed out that "an honest community can avoid this situation from the beginning

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