Recently, the dispute between the POKT team and Hotbit is in a hubbub. Each sticks to its argument and provides evidence. The POKT team publicly slandered Hotbit for selling fake coins, and claimed that the Hotbit exchange independently launched POKT token without reaching a cooperation agreement with Pocket Network; Hotbit Exchange listed on the official website the details and process of the POKT team’s shortfall of 2,461,317 POKT on the Hotbit platform due to the provision of defective documents and block browsers, and pointed out a series of unavoidable problems existed in POKT team currently. The two sides also responded to the incident on their respective official websites, the detailed responses can be accessed at the following links:
Report from Hotbit：https://hotbit.zendesk.com/hc/en-us/articles/4419589904407
Response from POKT: https://www.blog.POKT.network/the-road-to-getting-POKT-officially-listed-on-exchanges-and-navigating-exchanges-who-are-not-supported-by-pocket-network/
I believe everyone can distinguish the right and wrong of the two. In fact, Hotbit’s response is relatively objective and well-founded, but POKT’s response seems to be a bit groundless. Let’s sort it out together:
First, let’s talk about “selling fake 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” is just one side of the story. On the contrary, even if the Hotbit platform has listed POKT tokens due to the popularity of POKT, it is a free publicity for POKT. In the encryption field where traffic is money, the listing of a certain token on the exchange is actually a timely support for the start-up team of the project. After the popularity of POKT, it not only did not give a favor to Hotbit, but turned about and hit it with a rake instead, which is unkind.
Second, judging from the public response, the POKT team actually admitted that it provided defective documentation and a buggy browser. Then, it is reasonable to take the initiative to take responsibility for the subsequent series of problems, rather than be evasive and reckless;
Third, DAO is a great governance tool and a hot new track in the blockchain field. The development of this track provides fertile soil and broad space for the development of decentralization. However, this shouldn’t be a tool for unscrupulous teams to shift blame and avoid problems. How could they look after their own interests and pass the buck to the DAO community? I believe that people in the entire encryption field will not agree to such an approach for it not only distorts the meaning of DAO’s existence, but also hurts countless developers and users of DAO. DAO should be the inheritor and promoter of the concept of decentralization, instead of a tool for doing evil and evading responsibility;
Fourth, POKT claims to be “one of the top 5 revenue-generating blockchains in the world” in its recent official statement. I don’t know how Pocket Network can be so confident. It might work on novice who are hustled 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 ranked actually after Pocket Network? In short, I have not see that the Pocket Network chain is the top five in the world on any query tool. 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 itself has some “fake” problems. For example, its official Twitter shows 27,000 followers, but some of its official Tweets has only a few responses (a few likes, 0 comments), which doesn’t match the 27,000 followers. For example, the Tweet on January 27 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 field has always advocated the concept of decentralization. I don’t know if POKT is a supporter of decentralization, but some of its practices have actually violated this industry spirit if it is. In addition, Hotbit integration, in accordance with the decentralized spirit of blockchain, does not require POKT license. Moreover, there is currently no original and complex information on this POKT chain, which is claimed to be the top five in the world. If POKT is not a supporter of the spirit of decentralization, don’t use the concept of DAO to show off its IQ. In fact, this has exposed a very big problem, which is worth discussing and thinking deeply.
There is still a lot of evidence shows the POKT team has violated the facts, if Pocket Network has been dealing with problems with such an attitude of disregarding the facts and evading responsibility, I am afraid that the problems will only emerge one after another, and ultimately cannot be properly solved, and those who are hurt can only be the users and the user’s trust in POKT. In fact, the industry is still in the early stage of development, and any problems are inevitable. Problems are not terrible, and followers and explorers of the industry should have a problem-solving attitude, stand with users, and solve problems together. As long as you show a sincere attitude and face the pain points of the problem, I believe that users and industry professionals can forgive you.
But if you go your own way and try to cover up facts, you may bring ruin upon yourself and bite your tongue off.
Hotbit stops POKT deposit& withdrawal /transaction announcement link
Links to Technical Analysis Documentation
Fake tx documentation link
POKT DAO Forum link
POKT Twitter Link
POKT Discord Link
POKT Tg Link
US SEC reporting link
How to import your order history