Margictrader

Assalamu Alaikum. I would like to express my sincere regret over what happened today with the $SUNUSI token. What happened? When we launched $SUNUSI, I can confidently say it started on a strong note. In less than five days, the project reached an all-time high market cap of $3.7 million. As expected, some early holders began taking profits, which caused the price to decline. The market cap eventually dropped from $3.7M to around $440k. To address the situation, I made a post on X seeking support from the Solana ecosystem, including @solana and @a1lon9, the founder of https://t.co/2DJdNgdiuM. Following that, I received advice from several experienced blockchain professionals. They told me that $SUNUSI had achieved something remarkable in a very short time and was now attracting the attention of major investors. However, they also pointed out one major concern: the 48% token supply held in my wallet. From an investor’s perspective, such a large allocation in a single wallet represents a significant risk, as they may fear a future dump. Several solutions were suggested: Lock the tokens for several years to build investor confidence. Burn part of the allocation and lock the remaining balance. After discussing the options with the $SUNUSI team, we decided to burn half of the allocation and lock most of the remaining half. We scheduled the burn for around 12:30 PM today. The burn process There are generally two methods of burning tokens. The first is sending tokens to a dead wallet. While the tokens become inaccessible, they still technically exist on-chain, so this doesn’t reduce the total supply. The second method uses a dedicated burn protocol, which permanently destroys the tokens and reduces the total supply. This is often viewed more positively because it genuinely decreases supply. We choose the following burning protocol for the exercise. https://t.co/yS88fzFR1l After testing the protocol successfully yesterday with another wallet, we decided to use that method. Below is the link to the test we carried out. https://t.co/k4iYWgK0hi What went wrong At approximately 12:30 PM today, I connected my wallet to the burn protocol and initiated a transaction to burn over 24 million plus $SUNUSI tokens. After approving the transaction, the token price briefly moved upward. Within minutes, however, it began dumping. When we checked the blockchain, we discovered something was terribly wrong. Instead of burning 24 million plus tokens, only about 242,258 $SUNUSI had been burned. Below is the onchain link of the burning exercise. https://t.co/b3KkF4DR3p The remaining tokens had been transferred to another wallet, which immediately started selling them. In the confusion, some people suggested burning the remaining tokens to help stabilize the market. Before attempting another large burn, I decided to test with just 10,000 $SUNUSI. The moment I approved that transaction, everything in my wallet was drained, not just the remaining $SUNUSI, but also other assets including SOL, ANSEM, and other tokens. Moving forward This is undoubtedly one of the toughest challenges I’ve faced. But I believe every trial comes from Allah, and this is one we must accept with patience. Allah knows our intentions were sincere. We didn’t create $SUNUSI simply to make money. Our goal was to build something valuable for the community and create opportunities for others. I won’t pretend this hasn’t been painful. It has been heartbreaking. However, after receiving countless phone calls, messages, prayers, and words of encouragement from family, friends, and community members, I’ve accepted this as a test from Allah. This setback will not break our spirit. We will not give up. Every meaningful success comes with challenges, and we remain committed to moving forward. In Sha Allah, I will host an X Space tomorrow to explain everything in greater detail, answer questions, and discuss the next steps with the community.

SunusiMinjibir's tweet photo. Assalamu Alaikum.

I would like to express my sincere regret over what happened today with the $SUNUSI token.

What happened?

When we launched $SUNUSI, I can confidently say it started on a strong note. In less than five days, the project reached an all-time high market cap of $3.7 million.

As expected, some early holders began taking profits, which caused the price to decline. The market cap eventually dropped from $3.7M to around $440k.

To address the situation, I made a post on X seeking support from the Solana ecosystem, including @solana and @a1lon9, the founder of https://t.co/2DJdNgdiuM.

Following that, I received advice from several experienced blockchain professionals. They told me that $SUNUSI had achieved something remarkable in a very short time and was now attracting the attention of major investors.

However, they also pointed out one major concern: the 48% token supply held in my wallet.

From an investor’s perspective, such a large allocation in a single wallet represents a significant risk, as they may fear a future dump.

Several solutions were suggested:

Lock the tokens for several years to build investor confidence. Burn part of the allocation and lock the remaining balance.

After discussing the options with the $SUNUSI team, we decided to burn half of the allocation and lock most of the remaining half. We scheduled the burn for around 12:30 PM today.

The burn process

There are generally two methods of burning tokens.

The first is sending tokens to a dead wallet. While the tokens become inaccessible, they still technically exist on-chain, so this doesn’t reduce the total supply.

The second method uses a dedicated burn protocol, which permanently destroys the tokens and reduces the total supply. This is often viewed more positively because it genuinely decreases supply. We choose the following burning protocol for the exercise.

https://t.co/yS88fzFR1l

After testing the protocol successfully yesterday with another wallet, we decided to use that method. Below is the link to the test we carried out.

https://t.co/k4iYWgK0hi

What went wrong

At approximately 12:30 PM today, I connected my wallet to the burn protocol and initiated a transaction to burn over 24 million plus $SUNUSI tokens.

After approving the transaction, the token price briefly moved upward. Within minutes, however, it began dumping.

When we checked the blockchain, we discovered something was terribly wrong.

Instead of burning 24 million plus tokens, only about 242,258 $SUNUSI had been burned. Below is the onchain link of the burning exercise.

https://t.co/b3KkF4DR3p

The remaining tokens had been transferred to another wallet, which immediately started selling them.

In the confusion, some people suggested burning the remaining tokens to help stabilize the market.

Before attempting another large burn, I decided to test with just 10,000 $SUNUSI.

The moment I approved that transaction, everything in my wallet was drained, not just the remaining $SUNUSI, but also other assets including SOL, ANSEM, and other tokens.

Moving forward

This is undoubtedly one of the toughest challenges I’ve faced.

But I believe every trial comes from Allah, and this is one we must accept with patience.

Allah knows our intentions were sincere. We didn’t create $SUNUSI simply to make money. Our goal was to build something valuable for the community and create opportunities for others.

I won’t pretend this hasn’t been painful. It has been heartbreaking.

However, after receiving countless phone calls, messages, prayers, and words of encouragement from family, friends, and community members, I’ve accepted this as a test from Allah.

This setback will not break our spirit.

We will not give up.

Every meaningful success comes with challenges, and we remain committed to moving forward.

In Sha Allah, I will host an X Space tomorrow to explain everything in greater detail, answer questions, and discuss the next steps with the community.

847

208

288K

Margictrader retweeted

Eze_crypto

@solEz_crypto

21 days ago

311

Margictrader retweeted

Crypto🛸Ustaz

@CryptoUstaz7

21 days ago

Robinhood Chain is heating up. Fresh alpha. Strong narrative. DYOR and watch this one closely. 0xFe2112b4569D3a131E7964dCF45c155d7907534e

CryptoUstaz7's tweet photo. Robinhood Chain is heating up.

Fresh alpha. Strong narrative.

DYOR and watch this one closely.
0xFe2112b4569D3a131E7964dCF45c155d7907534e https://t.co/c29KFQdB9n

Margictrader retweeted

Fadil

@Fadil_bawa1

23 days ago

Launching other coins apart from $SUNUSI won’t change anything. We’re thinking too small. I see so many people who want to launch projects, but they’re being told not to because of $SUNUSI. I’d even say a large number of African crypto traders aren’t holding $SUNUSI yet. Many traders don’t even know him. We need to expand the way we think. Let me give you an example with $ANSEM. The day $ANSEM launched, many influencer coins followed. Many of them did well, people traded them, and made profits. Did that affect $ANSEM? Not at all. No one said people should stop launching influencer coins because $ANSEM would dump. That’s the mindset many Africans have, and I think we need to move past it. Even if no one launches another token, do you think everyone will only trade $SUNUSI? They won’t. So why stop people from building what they believe in? I can even argue that more influencer projects could bring more eyes to $SUNUSI. Different communities will discover different projects, and many of them will eventually find the OG who started it. On top of that, having more African projects increases our presence in the market. Imagine opening Dexscreener and seeing multiple African projects gaining traction. We should be thinking about growing the ecosystem, not limiting it.

Fadil_bawa1's tweet photo. Launching other coins apart from $SUNUSI won’t change anything.

We’re thinking too small.

I see so many people who want to launch projects, but they’re being told not to because of $SUNUSI.

I’d even say a large number of African crypto traders aren’t holding $SUNUSI yet. Many traders don’t even know him.

We need to expand the way we think.

Let me give you an example with $ANSEM.

The day $ANSEM launched, many influencer coins followed. Many of them did well, people traded them, and made profits.

Did that affect $ANSEM? Not at all.

No one said people should stop launching influencer coins because $ANSEM would dump. That’s the mindset many Africans have, and I think we need to move past it.

Even if no one launches another token, do you think everyone will only trade $SUNUSI? They won’t. So why stop people from building what they believe in?

I can even argue that more influencer projects could bring more eyes to $SUNUSI.

Different communities will discover different projects, and many of them will eventually find the OG who started it.

On top of that, having more African projects increases our presence in the market.

Imagine opening Dexscreener and seeing multiple African projects gaining traction.

We should be thinking about growing the ecosystem, not limiting it.

362

11K

Margictrader @Margictrader

24 days ago

@CryptoUstaz7 Unless you don’t like the truth 💯am with you sir 💯💯💯

186

Margictrader retweeted

Crypto🛸Ustaz

@CryptoUstaz7

24 days ago

Instead of dividing the African crypto community, we should be standing behind one another. When an African founder has a real chance to make history, launching a competing token from the same community only weakens our collective impact. If we had all united behind Sunusi and helped him succeed, it would have opened even bigger doors for everyone, including those launching later. This is my opinion. If u think I'm attacking anyone, that's ur interpretation. I'm simply saying what I believe is the truth.