$GRIND token launch:

The token was deployed successfully, but a massive influx of traffic caused the indexer to fail.

We immediately noticed users purchasing the token directly from the contract. We believe the token was easily identified by the 21.5 ETH initial liquidity Pons provided.

When we were able to manually index the token, it was nearing bonding, and we determined mutually with the GRIND team that posting the CA before bonding would lead to users aping in and incurring significant penalties.

The snipe protection worked exactly as intended due to the protection at the protocol level, not the UI level.

Due to this, we determined the best course of action would be to wait until the token migrated and then post the CA that is tradable everywhere.

If this token was launched on any other platform, snipers would’ve been able to accumulate a substantially higher supply of tokens (in this case, with the purchase amounts, nearly all of the available supply), which was prevented through g8keep’s sniper protection.

No addresses were airdropped tokens prior to the token migration. Please note that Dexscreener does not track the amount spent on tokens in the bonding curve, so it looks like users spent nothing but sold tokens. This is not the case.

Everything is onchain and verifiable. We will post a further follow-up detailing the transactions of the buyers and sellers during the bonding curve phase.