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Alex
@alex_bcg
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liquidity at @BlackCodeGroup Singularitas Infinitum
U+221E
Joined December 2013
it gets really obvious which tokens are doing this as soon as a liquid perp market launches
Token founders are offering funds a kickback to bid coins on liquid market — particularly at token launch. They will say “hey, if you buy 5m of our token, we will send you another 5m, so you get a 50% discount overall on the buy as long as you hold for n days”. Makes artificial demand at TGE, inflates price for future foundation sales & locks up some of the already low float to make it even lower. It’s like low float / high FDV on steroids. Sad state of affairs.
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