Decentralized betting platform Mojito Markets based on the Aptos blockchain has announced the suspension of operations due to the consequences of the collapse of FTX and Alameda Research.
According to them, they also lost personal assets in the stock market crash.
The Mojito Markets team recognized the difficulties in attracting urgent financing in the conditions of a bear market.
After the resumption of work, they plan to take a number of measures to increase the sustainability of Mojito.
The team intends to reissue the MOJO token on Ethereum instead of Aptos.
This step is designed to facilitate the transition to support multiple networks. Implementation of a multichain solution will increase the availability of the protocol and facilitate access to liquidity, reducing dependence on market makers, the developers believe.
MOJO's price has lost 92.8% since its November 3 high of $0.028, according to CoinGecko. The token trades at the level of about $0.002. The only market is the Gate.io platform.
Let us remind you, according to the experts of the Jefferies Financial Group bank, FTX creditors can count on a return of no more than 40% of their funds.