Statement 📜

“June 3rd marked a historic milestone as the $BDXN token officially went live across the world’s top exchanges. I want to personally thank the Bondex community, users, partners, contributors, and believers for being part of this journey. This is just the beginning of what we’re building together!” - Ignacio Palomera, CEO of Bondex

Here is the recap of the $BDXN token launch and our plan of action for the next couple of months.

We had a well-planned launch across multiple Tier 1 exchanges. However, we were hit with some unexpected turbulence in price discovery and Spot CEX listings, not reflective of the fundamentals or the long-term value of our ecosystem.

What Happened

Two main actors prevented $BDXN from being a smooth launch.

1️⃣ A PancakeSwap sniper exploited the launch using a custom smart contract and validator bribes. This is a known bad actor who has targeted recent launches like $ASRR and $MYX. In our case, they spent over $300K buying early and another $134K to manipulate block timing, inflating the initial price, and creating artificial sell pressure on CEX listings.

Transaction on BscScan

Sniper's action caused unexpected liquidity, confusing CEX as they opened trading and leading to a far more divergent price across exchanges. This caused the initial spike.

2️⃣One Centralized Exchange came online earlier than planned. As is standard, there was a 5-minute embargo on CEX spot listings following the Alpha Launch on Pancake Swap. By itself, this wouldn’t have caused any major issues, but when combined with the actions of the Sniper, there was an artificial spike to almost a $2B FDV. As the rest of the CEXs, as well as Token Tracking Websites, came online, they took the price from this CEX vs the Pancake Oracle, where they should have taken the price from, which at the time was set at $0.12 at 120M FDV.

The result was a cascading sell-off across platforms triggered by the sniper and the artificial FDV, as automated systems and token holders reacted to the inflated price. This created a misleading chart and a red candle, but not one based on organic market behavior or a change in the fundamentals of Bondex. It is essential to mention that the Bondex team, and our partners in this launch, were just as caught off guard by this as the rest of the market. 

In reality, $BDXN has consolidated at $0.065–$0.07, which is within our expected range post-launch, and gives us exactly the starting point to us our community wants to build up from. Our Spot volumes and Perp activity are exceptionally healthy, and we have traded weak hands from long-term investors.

So, where do we go from here?

✅ $BDXN is listed on Tier 1 exchanges, including Binance, Bybit, Kraken, Gate.io, Bitget, MEXC, and others. More high-quality exchanges are coming, and liquidity will keep growing.

✅ We now have a stable base to build our chart, at an attractive price 

✅ The team is locked up long-term and even more committed to overcoming this turbulent launch
✅ We have a healthy treasury, revenue inflows, global partners, and a long-term roadmap
✅ We’ve got an incredible roadmap of new trading venues, acquisitions, Product features, and ecosystem partners that we will be sharing in the coming days

We didn’t build Bondex for a one-day performance.
We built it for the years to come.
Now, let’s zoom out and keep building.

➡️ Watch the AMA with our CEO, Ignacio Palomera, who will dive into more details during the livestream today: https://www.youtube.com/watch?v=d_jizS7Rdqs&ab_channel=Bondex