Update on Pirates Land

2 min readMay 18, 2022

After careful consideration, we have decided it is best for our community that we terminate the agreement with Pirates Land!

Pirates Land was a project that we hosted a crowdfunding for on our launchpad and is due for listing on the 18th may 2022. However, we noticed along the way prior to listing many red flags that had made us unsure of the commitment of Pirates Land.

Pirates Land team demanded that we release the raised funds to them prior to listing as in the contract it mentioned “ funds to be released 48 hours after ido”, however this was meant to say “after listing”. We did not release the funds, as no launchpad is crazy enough to release funds prior to listing. We ensure to protect consumer funds at all costs and we prioritise our community first. We Never release funds to projects unless and until launch is successful.

We have also added extra security for our community, that ANY project that contains in their token contract a blacklist function, that we do NOT release funds except as per each vesting to ensure the project does not try to do anything sneaky or unethical.

On the 17th May 10pm UTC, we noticed that after the pirates Land team sent us the tokens, we were beginning to create the token vesting contract however we could not send tokens to the contract. After some investigation, we noticed that the team had blacklisted our main treasury wallet that contained the tokens.

Thereafter, we confronted the PLT team about this and have noticed that they may not have enough fund to provide liquidity. We have decided and agreed to terminate and refund our community.