Hello,
Please seriously need someone’s support; I bought 649,700 tokens of Cryptomafia yesterday. As at the time of this writing, my balance has reduced to 12,993.99 $CMF token and also a reduction in the value of the token as well. Someone should please help me.
Thanks
Hello @Gongible1 To better assist, please send the following information:
Trust Wallet app version (open the app, go to the settings of the app and press “About”, take a screenshot, and attach it here)
Crypto wallet address (press the receive icon near the send button, take a screenshot of the QR code, and attach it here. Also copy and paste it in plain text)
Transaction hash or link (if you have any, please copy and paste)
Further details about your issue (please explain what you were trying to do)
Screenshots of the wallet (including errors or missing balance)
Cryptomafia wallet address: 0xD037e093C435e7685F3a49c5Da61a2da62e32534
Wallet balance as at the time of this writing
Wallet balance as at the time of purchase;
You realise clearly that the token balance has reduced from 649,700$CMF to 1,299.39 $CMF as at today but there’s no increase in the value of the Crypto. When I search my wallet (0xD037e093C435e7685F3a49c5Da61a2da62e32534) on bscscan.com, it only shows me my smart chain balance.
But when I search with the Cryptomafia$CMF wallet address 0x2F86A794FEE552e98d46b33B135fF9126D6e136E, it showed me the correct value of my crypto but that doesn’t reflect in my trust wallet.
And this is the transaction hash; 0xea9fdedf2ccd2b5a36c931769dc9f03ad48d88c94eb7945c891cc7cdd76c5e5d
Further details
@Gongible1 There is no problem with the app. This token has an elastic supply.
Elastic supply tokens have a changing circulating supply. The idea is that instead of price volatility, what changes is the token supply through events called rebases.
Simple explanation. Price goes up, less tokens. Price goes down, more tokens.
I suggest you to read and understand on tokenomics of any project before investing.
Hello Alan47,
Thanks a lot for your response. I have read the tokenomics and I understand the rebases and even with respect to your explanation you gave me on rebases, it is simple for a layman to understand. Per the information I sent you, if there has been a rebase and that my token has reduced, where is the corresponding increase in the value of my token? The value of my token has also reduced. With this, please don’t you think there is a mistake or error somewhere?
Kindly compare these two pictures and determine if rebases has been done correctly.
Quantity of token and value as at the time of purchase
And quantity of token and value as at this writing
Hi Alan47,
Since I bought the Cryptomafia $CMF on 24th December, 2021 till today the price has increased by more than 44,000% but that does not reflect in the value on my trust wallet
Hello @JennyMillan,
Please though I don’t know much about how crypto prices are been calculated but all platforms I have visited indicate a favourable price increment in Cryptomafia $CMF including the Cryptomafia website. Since the day I bought the crypto till today, the price has increased by more than 50,000% and per the principles of rebases explained on their website, as my crypto is decreasing, the value should have increased. Why is the quantity and value of my crypto reducing reducing simultaneously? Please, kindly look into this because I realize ain’t the only person who has been affected. A lot of people have lost their money and still losing. Please do something about it.
@Gongible1
There is no problem with the app.
This token has an elastic supply.
Elastic supply tokens have a changing circulating supply.
The idea is that instead of price volatility, what changes is the token supply through events called rebases.
Simple explanation. Price goes up, less tokens. Price goes down, more tokens.
I suggest you read and understand the tokenomics of any project before investing.
Now, assuming am just a layman; I don’t know anything about crypto. With the above simple explanation you have given me which clear for everyone to understand, if a token is reduced from 649,700 $CMF to 32 $CMF and the value also reduces from USD$45.11 to USD $23.90, do you term this as a rebases per your own definition?
@JennyMillan
Am really grateful for your response but kindly study this shot(from the Cryptomafia whitepaper) of the project details on rebases.
According to this details, the value of my crypto is not a expected to go down most especially as the price has increased astronomically from USD$0.00006926 to USD$ 0.7246 as at the time of this writing.
What can you say about this?
And finally can the rebases cause me to lose all my token and the value as well? Because gradually am losing it
@Gongible1 this has nothing to do with Trust wallet. The problem is with the token that you invested. It’s better to contact project team if you want more clarification on how this token works.
