As a staunch advocate for transparency and honesty in the tech world, I find it imperative to address the recent events concerning Ergo and CoinMarketCap (CMC). The situation has not only caught my attention but also compels me to speak out due to its implications for the industry I deeply care about.
The Context
The dispute began when Ergo approached CMC to correct an error in the representation of their circulating supply data following a 1:1 token swap. Additionally, the Ergo community sought to rectify the price history to accurately reflect the distinction between the Ergo coin and the EFYT token, a marketing token on a different network with a different supply that existed prior to Ergo's launch in 2019. In a move that has sparked widespread discussion, CMC initially responded with a request for a $5,000 payment to correct this mistake — a fee that was later retracted amidst public backlash and labeled as a «misunderstanding». Subsequently, CMC added a note to Ergo's listing, which was perceived as implying that Ergo's request to adjust historical data was an attempt to manipulate chart appearance. This insinuation has been contested by the Ergo community, emphasizing that their request was to separate the token from the coin and to provide accurate historical context.
The Concern
This sequence of events casts a shadow over CMC's practices and raises questions about their commitment to transparency. The request for payment to correct their own error, coupled with the public insinuation about Ergo's intentions, suggests a departure from the professionalism expected of a leading data aggregator. Moreover, it fuels the narrative that financial influence could potentially sway the representation of data on such platforms.
The Implication
The integrity of data is the foundation upon which the blockchain industry is built. Any indication that this integrity could be compromised by financial transactions or biased representations is deeply troubling. It undermines the trust that users and industry participants place in these platforms and could have long-lasting repercussions on the credibility of the blockchain ecosystem. It is important to note that even scam projects with similar or more complex issues, such as Luna, Safemoon, and the Squid game token, have not received the same type of public warning from CMC, which raises concerns about consistency in CMC's approach.
The Call to Action
As a community, we must demand accountability and fairness from data aggregators. We must insist that corrections of factual inaccuracies are made promptly and without financial barriers, ensuring that all projects, regardless of their financial backing, are represented accurately. It is our collective responsibility to ensure that the platforms we rely on for information adhere to the highest standards of transparency and objectivity.
The blockchain industry is still in its nascent stages, and the actions we take today will shape its future. Let us stand together in advocating for a transparent, fair, and honest industry. We owe it to ourselves and to the future of blockchain to ensure that the data we depend on is beyond reproach.
Transparency and equality are not just ideals; they are the pillars upon which trust in our industry rests. It's time for us to defend these pillars vigorously, to foster a fair and trustworthy blockchain environment for all.
Later, the Ergo community asked for the price history to be corrected as well, as it includes a marketing token on a different network with a different supply (EFYT token) which existed before Ergo was launched in 2019. CMC alleges that this is an attempt to manipulate the price chart, while in fact it is merely a request to separate the token from the coin and simply add a note on Ergo chart linking to the EFYT chart in case people are interested in Ergo's history.
The case of CMC publicly attacking and accusing Ergo of price manipulation is even more ridiculous when we see that other projects like Luna, Safemoon, even Squid game token, does not have this type of warning.