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no ser, we are not cooking anything
this was at an open event with lots of people couple months ago, you asked for advice on doing something real, and I said “be patient, build over time”
(you clearly took it very much to heart)
before taking the photo, you reassure this photo was just for personal purposes, and I told both u & your manager not to post or use this to falsely market anything
now you post this and didn’t even tag me
come on man, like seriously?
NO MORE FUD
1. Concentrated Holdings (One or more wallets hold over 5% of the total supply.)
The wallet BTj8PnzNvCryR2DQkqsB6GHYhRTQrPbDMUrGk1JZbzRu contains the tokens reserved for future airdrops across upcoming seasons. These tokens are currently locked. You can always check for any changes to this allocation on Solscan. By participating in future seasons, you may be eligible to receive a portion of this allocation.
2. Suspicious Top Holders (The top holders control more than 100% of circulating supply.)
The wallet F8ngMXwcDi9dwcfwcWFDp3bdthzy2a6GggHgWPCXAse4 is Magna’s wallet and is responsible for managing the on-chain vesting of the FRAG token. It serves as the on-chain management platform for the locked allocations of investors, the ecosystem, the foundation, and core contributors. This contract is fully deployed on-chain and cannot be modified by the team. The vesting process is automatic, transparent, and verifiable on-chain. Therefore, the fact that the top 10 holders control more than 100% of the circulating supply is completely natural.
3. Mint Function Risk (Token minting is still enabled.)
The mint function has already been disabled. You can confirm that this is a fixed supply token by visiting:
https://t.co/hbvLbV2RTg
4. Metadata Update Risk (Contract metadata can be updated.)
The metadata update risk you're referring to is simply FUD. Most Solana governance tokens do not set the updateAuthority to undefined and instead keep isMutable: 1. This is because the update authority is often assigned to a DAO multisig, allowing metadata to be updated through governance. It also enables the team to respond in cases where the token image or URI breaks.
5-6. Liquidity Concern (Current liquidity is too low.)
Most of the liquidity is currently provided on centralized exchanges (CEXs), with CEX-DEX arbitrage managed by market makers helping to maintain balance. This is because the token launched less than a week ago and the majority of trading is still taking place on CEXs. That said, we are actively exploring various strategies to improve DEX liquidity going forward.
7. Liquidity Not Secured (Less than 95% of liquidity is locked or burned.)
Burning or locking liquidity is a practice commonly seen in meme, often used to signal that the coin is not a rug. However, it is rarely used for governance tokens, as LP positions need to be rebalanced based on market conditions.
Believing the labeling provided by data analysis tools without properly investigating them is a certification of low intelligence.
If you're looking at this Nansen data, please compare it with other recently issued Solana governance tokens. You’ll realize that you’re just spreading FUD.
$SOON: https://t.co/tAmvyq4JtD
$HUMA: https://t.co/qgg3MO6rFN
They’re all outstanding Solana builders. If you think you can call them a rug pull, go ahead and try.
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@toly when are you gonna give a shout out to this AI magic that’s happening on your chain?
@Dither_Solana has been here building for over a year, leading the AI revolution before many had even thought about launching an AI project.
It has a working product that’s completely unique, a legit founder who does nothing but build and a wholesome team and community that strongly supports your ecosystem.
This is more than 99% of projects can claim and it should be recognised as a gem of Solana…credit where credit’s due.
Shout out to @0xMattness for staying the course and being a true leader! Well played, sir!
Blaming SOL for the fraud & scams that occur there is a brain-dead take;
This always happens to permissionless chains that rise to a dominant position 🔥
In 2014, it was BTC scams & criminal markets. In 2017 ETH ICOs & in 2021 it was ETH NFTs!
SOL is the BTC & ETH of 2025: 🧵
Scammers & criminals will always seek out the cutting-edge, as it is on this frontier where they can extract the most, just like the Wild West of old
Does that make the frontier bad? Ofcourse not, in the same way, that BTC & ETH were not bad during their heydays
A truly decentralized, permissionless & public blockchain cannot block criminals, scams & fraud...
That is the trade-off we make for freedom, truly making it the home of the brave; if you cannot stomach that, go back to centralized products!
The early internet was much the same, with a much higher proportion of criminal activity, scams & fraud that we see today. Over time, with mainstream adoption, this was watered down & consumer protections were improved. Making the internet a much more respectable place today compared to when it was in its infancy
Most also do not realize that pornography drove a lot of the internet's growth, specifically the acceleration of innovation around capacity, speed & more:
I have never endorsed memecoins & I likely never will as a research-led fundamental value investor
However, the analogy to pornography & the early internet is uncanny, even if it is often distasteful. I am not in the business of denying reality; I am in the business of uncovering & discovering reality
A major difference to the internet is that crypto is not a single protocol, but thousands all competing over dominance & adoption. This free market dynamic is powerful & even though it drives a lot of evil in our world, the net effect is still positive. Free market competition drives innovation & exerts "evolutionary pressure". This, however, does mean we are cycling through dominant chains over time. First, it was BTC, then it was ETH & now it is SOL! I value freedom & am willing to accept a certain degree of chaos & danger in return
The truth is that SOL is now leading the cryptocurrency movement, whether we like it or not!
The high frequency of scams & fraud are only additional signs of this dominance, along with the undeniable usage metrics, where SOL is clearly leading
SOL's leadership has also been relatively responsible, as they have been putting their audience's attention & focus on real projects, for which there are plenty on SOL. As a matter of fact, the application revenue for SOL is now higher than all other chains combined! (5.8M in the last 24H!)
Again, I have never endorsed meme coins & never will. However, one of the reasons for PumpFun's success has exactly been because it is more fair than most of the alternatives out there. The platform itself guarantees that there is no pre-sale & no team allocation; this is why some of the biggest meme coin scams were not launched on PumpFun! We all need to inject a bit more nuance & detail into these conversations; nothing is ever clearly black or white, good or evil:
I also suspect that the recent meme coin mania was driven by the sorry state of our industry. a lot of people perceive meme coins as a less rigged game compared to the VC-infested waters of "mainstream" crypto. Where the majority of the supply is now often controlled by insiders...
We should bring ICOs back at scale now that the regulatory environment can support that again. Since at least that gave retail the same opportunity as the VCs participating at a ground level
Either way, blaming SOL for this recent mania is completely misguided; if anything, we should be thankful that somebody was able to pick the ball back up after ETH fumbled it. We should care about the adoption of decentralized blockchain infrastructure; I am not so petty as to oppose this adoption surge by totally opposing SOL
There is plenty to criticize SOL for, but supporting fraud, scams & fraud is not it. That is a tired argument that I have countered for over 12 years now, both in defense of BTC, ETH & now SOL in turn. Do not be like the sour BTC maxis of 2017, denying reality as their usage metrics are flipped by ETH. Constantly moving the goalposts of success until they became a pet rock
Realism & an adherence to empirical evidence inform our position, love or hate SOL. You cannot deny its prominence; this is why Trump launched on SOL; no other chain had the infrastructure to support that sort of scale overnight
Based on crypto's history, there is a good chance that there will be a different dominant blockchain, in a few years from now. That blockchain will also most likely host the majority of fraud, scams & criminality. This has always been the case & most likely always will
SOL is no angel, but it is also certainly not a devil ☯️
a few days ago i sold a high value nft. my bullishness for sol is overwhelming at times even though I saw potential pullback coming. decided to run it through @Dither_Solana forecasting tool... confirmed my prediction.
converted to USDC at 217. (80 -> 93 sol) gg 🤝
$DITH