[Neiro CTO responds to doubts: Choosing Gotbit as a market maker is a stopgap measure in a hurry to go public, and is willing to take responsibility for this misjudgment] According to Mars Finance, in response to crypto detective ZachXBT questioning why Neiro initially chose Gotbit, which has a very bad reputation, as a market maker, Neiro CTO co-director "S" responded that when Justin Sun's Twitter asked him to list HTX, he actually only had a few hours to find one, and time was tight. Gotbit was chosen because the market maker offered a retention agreement at the time, which was the most affordable option so far. Second, the project saw it as a quick solution for HTX's listing (the agreement with Gotbit was for 3 months), and then planned to explore other options when the budget was larger. Third, it lacked experience in judging the industry. Although it had heard all kinds of bad things about Gotbit, it had also heard all kinds of bad things about almost everyone in the industry, so it was difficult to make a judgment.
“S” also said: “I had no direct contact with Gotbit before, so I chose to trust them and give them a chance. Gotbit also advertised itself as a “meme coin friendly” market maker, which seemed to be an attractive proposition.”
“S” concluded: “But at the end of the day, I take full responsibility for this and I should have been more careful. I am heartbroken by this outcome and I paid a huge price for it. At the same time, this has also been a huge learning opportunity for us, and it has forced us to fundamentally improve the project by working with better and more market makers to reduce counterparty risk and upgrade the markets where Neiro trades.”
Earlier news, in response to Neiro’s announcement to terminate its partnership with market maker Gotbit, Chain Detective ZachXBT said that perhaps Neiro should explain to the community why it chose Gotbit in the first place, because their reputation has always been bad. Before the U.S. government accused them of fraud and market manipulation this week, there was a lot of evidence that Gotbit had engaged in pump and dump behavior.
