Pax

Solana Web3 enthusiast // Building a blockchain virus engineered to spread, evolve, and consume attention at scale.

[Pax @Paxinit]

@riskanonymous Its been over 1h since its "paused" and its not back up yet.

[Pax @Paxinit]

@redfoxbrownhat If you read my post carefully, I said "most likely", 4 wallets to deploy all 10 sol for 48h means 720 sol lost x 4, who does that? Explain

[Pax @Paxinit]

Another major red flag for $ZINC: the team appears to be heavily inflating its mining volume.

These wallets have been mining 24/7 for the past ~48 hours, continuously deploying around 50 SOL every 4 minutes out of a total deploy of 60–80 SOL.

The team is most likely wash trading SOL, which could explain why they are not conducting meaningful buybacks because much of the SOL being used appears to be their own.

For comparison, $ORE deploys around 20 SOL organically per minute. While $ZINC appears to be deploying 60-80 SOL every 4 minutes, from which about 50 SOL is always team, which is around 15 - 20 SOL per minute.

Circling back to my first post, total extraction from miners has now reached 2,965.5784 SOL ($234,235), all of which has been taken from the mines.

This is by far the most centralized mining protocol I have seen.

[Pax @Paxinit]

@cybercelos I stopped arguing with low IQ people some minds are built to follow noise, not logic.

[toly 🇺🇸 @toly]

The first quantum safe sov

[Pax @Paxinit]

@SoljaBoi__ The so-called "buyback volume knob" is just a mechanism for extracting value from miners who are actively mining and chasing Bonanza until they're fully drained. So far, miners have lost 2,200 SOL (around $175,111) through this process.

[Pax @Paxinit]

I've been mining since the launch of $ORE, and I've been involved with $ZINC since the beta.

I want to share some thoughts because I think many miners are overlooking what's happening.

The $ZINC Problem

In my view, $ZINC is the most extractive mining protocol I've participated in.

According to the project's documentation, the team committed to using 8% of protocol revenue for buybacks. In practice, those buybacks have largely stopped.

Meanwhile, the Bonanza (formerly Motherlode) continues to grow, while the token price remains suppressed.

The team's buyback wallet currently holds 1,570 SOL:
https://t.co/RWSmYqfggQ

That SOL was supposed to support the ecosystem through buybacks, but instead it appears to be accumulating on the sidelines while miners absorb the downside.

As a result:
- The $ZINC price is lower than it should be.
- The Bonanza is lower than it could be.
- Miners are effectively subsidizing the protocol while receiving less value in return.

It feels like the mines are being extracted by the team rather than rewarding the miners who keep the protocol alive.

My concern is that when the Bonanza eventually declines, the team will then deploy some of this accumulated SOL, after miners have already carried the cost.

Track Record Matters
Before $ZINC, the team built Turbine Cash, a privacy-focused protocol that ultimately failed.

$ZINC was also presented with a privacy narrative, but in reality:
- You mine from the same wallet.
- You withdraw to the same wallet.
- There is no meaningful privacy for the average user.

The privacy claim simply doesn't match the actual user experience.

Final Thoughts
I've seen more and more users raising concerns on X, and I wanted to add my perspective for those who haven't looked deeper into the numbers yet.

If the protocol promises buybacks, those buybacks should happen. If miners are providing the value, they shouldn't be the ones carrying the entire burden while protocol-owned SOL continues to pile up.

At some point, people need to ask a simple question:

Who is benefiting most from the current system — the miners, or the team?

[Pax @Paxinit]

Chasing Bonanza is extremely costly for miners.

To keep competing, you eventually have to sell some of your position to recover SOL and continue funding the autominer. Most miners accept some losses in the hope of eventually hitting a Bonanza.

The problem is that the buyback mechanism is supposed to help support the chart and offset some of the SOL being extracted from miners. If buybacks are not being performed, miners are forced to sell into a weaker chart while continuing to fund the system.

Since my last post, another 800 SOL has been extracted from miners, bringing the total to roughly 2,200 SOL, with no visible support added to the chart. This significantly increases the risk for anyone chasing Bonanza.

[Pax @Paxinit]

@Neurixsh Great news

[Pax @Paxinit]

@mert @Solana_SRI @Helius There is only one man who can save solana.

[Pax @Paxinit]

@LurkingDoom @THEHANDOFSHIVA @zinc_cash Zinc is cooked bro. Sorry they did dirty on their holders.

[Pax @Paxinit]

@itsapollo999 @zinc_cash Wont argue with you lol. I just said what happened. Don't be retarded please.

[Pax @Paxinit]

@zinc_cash Been with Zinc since the beta phase, tested it rigorously and even saw a stockpile hit live 😅 These guys are absolute pros. Backed by @MetaDAO and partnered with @Arcium, Zinc genuinely feels like a future top-tier giant on Solana. Still early 🚀 @solana

[Pax @Paxinit]

@RoundtableSpace Building the fastest copytrader on Solana. Closed circle. 20 people. No noise. Just speed.

[Pax @Paxinit]

@Chikiiimchi Super bullish.

[Pax @Paxinit]

@mert You are not marketing it good enough if in an 1 minute look on you're page i could not find out what zcash is.

[Pax @Paxinit]

@RoundtableSpace The same thing i was building yesterday.

[Pax @Paxinit]

I’m not building an app.
I’m building a system that spreads like a virus, mutates through incentives, and evolves through user behavior on-chain.
Built for @Solana.

Follow if you want to understand what’s coming next.

[Pax @Paxinit]

Most people onchain are trading tokens.

A small group is trading human behavior.

Fear.
Greed.
Euphoria.
Attention.
The chart is just the receipt.
#Solana #Crypto #Onchain #DeFi
@AxiomExchange @solana