Update 2: LAB dumped 85% down to just under $2 from $14 ($14B FDV) in past 24 hrs.
Disappointing to see how no action was taken by Binance, Bitget, & Gate earlier to prevent it.
If CEXs cared profits from the accounts manipulating price would be distributed to users at a minimum.
Unlocks for investors were scheduled to begin later this month however multiple late vesting changes occurred in the past.
Insiders have controlled the entire float which lead to extreme price manipulation on CEXs via MM.
I do not encourage trading LAB under any circumstances.
My 5 cents on tokenomics:
Teams should not launch tokens.
IF they launch, then it must reflect the actual equity & revenue the business generates (all data must be public to everyone). Full expenses should be provide, full revenue data should be provide.
There should be no buyback shenanigans. Team members and investors can't sell tokens in the window around a major announcement, three months before and three months after. Buybacks must be done via open public using uniswap v3/v4 LPs
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