Recently, the dispute between the POKT team and Hotbit has been in turmoil. Everyone sticks to their argument and provides evidence. The POKT team publicly slandered Hotbit for selling counterfeit coins, claiming that the Hotbit exchange independently launched POKT tokens without entering into a cooperation agreement with Pocket Network; Hotbit Exchange on the official website listed the details and process of the POKT team’s deficit of 2,461,317 POKT on the Hotbit platform due to the delivery of faulty documents and blocked browsers, pointing out that currently in the POKT team a number unavoidable problems exist. The two sides have also responded to the incident on their respective official websites, the detailed responses can be found at the links below:

Report by Hotbit:

Answer from POKT: pocket network/

I believe everyone can distinguish between right and wrong. In fact, Hotbit’s answer is relatively objective and well reasoned, but POKT’s answer seems a bit groundless. Let’s clarify it together:

First, let’s talk about “selling counterfeit coins”. The POKT team does not have enough evidence to show that the POKT on the Hotbit platform is fake, and the so-called “fake coins” are only one side of the story. On the contrary, even if the Hotbit platform listed POKT tokens due to the popularity of POKT, this is a free promotion of POKT. In the crypto realm, where traffic is money, listing a particular token on an exchange is actually a timely endorsement for the project’s start-up team. Following POKT’s popularity, it not only didn’t do Hotbit any favors, it turned around and hit it with a rake instead, which is unfriendly.

Second, judging by the public reaction, the POKT team actually admitted that they had provided faulty documentation and a faulty browser. Then it is reasonable to take the initiative to take responsibility for the subsequent series of problems, rather than being evasive and reckless;

Third, DAO is a great governance tool and a hot new trend in the blockchain space. The development of this track offers fertile ground and wide space for the development of decentralization. However, this should not be a tool for unscrupulous teams to shift blame and avoid problems. How could they mind their own interests and pass the buck to the DAO community? I believe that people across the encryption field will disagree with such an approach, as it not only distorts the meaning of DAO’s existence, but also harms countless DAO developers and users. DAO should be the heir and promoter of the concept of decentralization, rather than a tool to do evil and evade responsibility;

Fourth, POKT claims to be “one of the 5 top-grossing blockchains in the world” in its recent official statement. I don’t know how Pocket Network can be so confident. It might work for beginners who are crowded in the currency circle, but where are the places for chains like ETH, BSC, SOL, LUNA, AVAX, MATIC, FTM, CRO, and NEAR? Could it be that five of these nine chains actually rank behind Pocket Network? In short, I have not seen any query tool rank the Pocket Network chain in the top 5 in the world. I don’t know if the POKT team forgot to type “hundred” or “ten” after “five”;

Fifth, in addition to the above, the Pocket Network team has some “fake” problems of their own. For example, his official Twitter shows 27,000 followers, but some of his official tweets have few replies (a few likes, 0 comments), which doesn’t match the 27,000 followers. For example, the January 27th tweet has 12 retweets, 34 likes and 0 replies, this is one of the top five blockchain projects in the world with 27,000 followers? how could it be

Sixth, the encryption industry has always advocated the concept of decentralization. I don’t know if POKT is a proponent of decentralization, but some of their practices have actually gone against that industry spirit, if that’s the case. Additionally, in keeping with the decentralized spirit of the blockchain, the Hotbit integration does not require a POKT license. In addition, there is currently no original and complex information about this POKT chain, which is said to be in the top 5 in the world. If POKT isn’t a supporter of the spirit of decentralization, don’t use DAO’s concept to brag about its IQ. In fact, this has uncovered a very big issue worth discussing and giving some serious thought to.

There is still a lot of evidence that the POKT team broke the facts. If Pocket Network has dealt with issues with such an attitude of disregarding the facts and evading responsibility, I am afraid that the issues will only arise one after another, and ultimately cannot be properly resolved, and those who are hurt only can the users and users’ trust in POKT. In fact, the industry is still in its early stages of development and problems are inevitable. Problems are not bad, and industry followers and explorers should have a problem-solving attitude, stand by users and solve problems together. As long as you show a sincere attitude and face the pain points of the problem, I believe users and industry experts can forgive you.

But if you go your own way and try to cover up facts, you can ruin yourself and bite your tongue off.

Related Links:

Hotbit stops POKT deposit and withdrawal/transaction announcement link

Links to technical analysis documentation

Fake TX documentation link

Link to POKT DAO forum

POKT Twitter link

POKT Discord link

POKT Tg link

US SEC Reporting Link

How to import your order history

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