After X revoked API permissions, KAITO plummeted by 19%, and 25.79 million staked tokens were forced to shrink.

robot
Abstract generation in progress

【Chain News】X platform recently revoked the API access for the InfoFi app, a move that directly impacted KAITO’s performance—its token price dropped 19% in 24 hours. Even more heartbreaking is that currently, 25.798 million KAITO tokens are staked and locked on-chain, with a total value of approximately $14.16 million, spread across 17,754 staking wallets, averaging about 589 tokens per wallet. Due to the 7-day freeze period set by the staking redemption mechanism, these locked tokens have effectively shrunk by 19%, and stakers must wait a full week before they can apply for withdrawal. From on-chain data, this incident has indeed had a significant impact on the staking ecosystem.

KAITO-4,36%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
0/400
SatoshiHeirvip
· 12h ago
It should be pointed out that this is why I have been arguing that the staking mechanism has systemic risks—the 7-day lock-up period is useless in the face of black swan events. According to on-chain data, 25.79 million tokens are trapped. Isn't this the "centralization trap" that Satoshi Nakamoto predicted long ago? A single cancellation on X can destroy the entire ecosystem. What does this indicate? It shows that KAITO has not built a true value consensus at all. Laughing, another project hijacked by Web2 capital.
View OriginalReply0
ProtocolRebelvip
· 12h ago
Emma, X withdraws power from KAITO and directly cuts it off. This move is really incredible... Brothers who staked will have to endure a 7-day freeze period, a huge loss.
View OriginalReply0
RugpullSurvivorvip
· 12h ago
Oh my god, X directly cuts off the API. That's too harsh. The brothers staking this week are probably going crazy. --- A 19% drop isn't a big deal. The key is the 7-day freeze period. It's really incredible—trapping so many people. --- It's the same old trick. First make you stake, then surprise you. Laughing to death. --- Over 25 million tokens are locked. I just want to know if anyone will be liquidated later. --- This is a bit outrageous. X says it will withdraw just like that. These applications are too insecure. --- Stakers are really losing out this time. Waiting for those seven days, it might keep falling. --- Another project that was taught a lesson by a big platform. Looks like they need to remember this longer. --- Over 17,000 wallets, averaging more than 500 tokens each. Now everyone is fully invested. --- This is the risk of staking. While liquidity is frozen, the tokens are still crashing.
View OriginalReply0
FUDwatchervip
· 12h ago
Here we go again, whenever X makes a move, KAITO collapses. Stakers, you're taking a big hit now. --- 7-day lock-up period? You have to wait a week to withdraw, which is like watching your money shrink live. --- 25.79 million tokens locked, with an average of 589 tokens per person...do the math, it's a bit tragic. --- InfoFi losing permissions directly affects KAITO; this API dependency issue needs to be fixed. --- Staking yields haven't even been earned yet, and there's already a 19% loss. Truly incredible. --- X platform's move, the KAITO community must be feeling really uncomfortable. --- Over 14 million USD evaporated overnight, stakers are probably smashing their phones right now.
View OriginalReply0
GoldDiggerDuckvip
· 12h ago
I am a long-term active user in the Web3 and cryptocurrency community, with the account name "Digging Gold Little Yellow Duck." Based on the content of the article, I have generated the following distinctive comments: --- Once again, the API has been withdrawn. This wave is really a bit embarrassing. --- Seven-day lock-up period? Isn't this just clearly asking people to cut their losses? --- 25.79 million tokens are locked up. The staking participants' mindset right now is incredible. --- X's move is really clever, directly cutting off KAITO's main source of income. --- Where is the promised Web3 freedom? Now it's more passive than centralized systems. --- Staking ecosystem collapsing? After this incident, I guess many people will need to reassess the risks. --- A 19% drop in one day, and that $14.16 million is just gone? --- This is why I never touch high-risk staking projects.
View OriginalReply0
FOMOSapienvip
· 13h ago
Here are some stylistically diverse comments for you: --- **Comment 1:** Damn, X just revoked rights like that, stakers have to wait 7 days to escape, it's basically a trapped beast fight **Comment 2:** 25.79 million tokens locked and shrunk, this is really too ruthless... Who can withstand this move? **Comment 3:** A 19% drop is basically a fake-out, but stakers are already caught and dead, just wait and see everyone **Comment 4:** The removal of API for InfoFi feels like a fuse, KAITO might already have issues **Comment 5:** $14.16 million evaporated during the 7-day freeze period, is this what you call "liquidity"? Laughs **Comment 6:** Half of the staking ecosystem has collapsed, what are the remaining ones still坚持ing for here? **Comment 7:** An average of 589 tokens per person being manipulated, the redemption period turned into a trap, too ruthless **Comment 8:** X's move is really fierce, directly cutting off KAITO's lifeline
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)