Splassive had indeed done really well in its growth but all investors of Splassive had a big shock when its price went down by almost 10 times.
As I usually would indicate that such project is high-risk investment so it is a bet to see whether we can hit a jackpot.
It is great to know that many early investors had already gained back their initial investment since they bought the tokens cheap.
From the Splassive Developer, it was mentioned that there was a bug in the tap contract. Someone managed to use the bug and manipulated airdrops since its launched. The hacker decided to sell all the liquid tokens resulted in the massive price drop.
The Splassive Developer is going to relaunch The Well and Tap Contracts to fix the bug and investors would need to restake their tokens or there may be some types of snapshot and converting over.
We really cannot determine how true the one-sided story from the Splassive Developer. It can also be a rug but we cannot tell as the contract was not totally emptied actually.
The effect of Splassive has spread to other Drip Fork projects. Many of their token prices were affected.
Almost all the Drip Forks came out to declare that their contracts were safe and they had put in the necessary security to prevent such incidents.
The fall of Splassive did come as an encouragement to the Drip community since its contract has been safe so far and many felt that the forks can never be like the original.
Regardless of all these, there are still new drip forks that are going to be launched like the Cash Cow that is going to launch a new project on Cronos, Cash Printer that is going to launch on Fantom, Solisium that is going to launch a new website on BSC etc
I had only recently invested in Drip and it was good that I had diversified my investments as we really do not know which project may be rugged or exploited.
For those who are able to constantly seek new opportunities, we can probably find some gems among the rocks.
Let’s learn to take calculated risks as well as learn to take out our initial investments whenever we can. Greed may make us compound for greater profit but we may end up losing our initial investment.
Thank you for reading my article and I do hope it helps to give some nice tips for high-risk investments.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.
