SunFlower ❤️ Q50

[SunFlower ❤️ Q50 @SpYoct200]

@gmonadofficial 0xf2dcbf262cbb13558cf6993213421f1b8c6321e1

[cp0x.com @cp0xdotcom]

https://t.co/OUSZ8Fa2Fz

[cp0x.com @cp0xdotcom]

Scam or investment opportunity?

Another post about teams abusing the crypto industry and deceiving their investors. Today's heroes scam slowly, creating the appearance of activity. In this case, it is always difficult to separate malicious actions from "bad luck, we tried honestly", but after reading, draw your own conclusions. Perhaps we are wrong, and this is one of the best investment opportunities on the market.

We are talking about the project - @IntegralHQ
Not all of you remember, but this was one of the largest ICOs of spring 2021. There was a public sale of tokens, where users brought the project ~$32 million in exchange for ITGR tokens.
($35 million is indicated here, but the real amount is about 32kk)

At that time, DeFi Summer was flourishing, so the project team decided to create "Integral is a DEX: building the last DEX that belongs to the people". The main character was the CEO of the project @ProfessorJEY, a Harvard graduate and other marketing attributes. As it turned out much later, Professor Jamie E. Young's name is Wilson Qin (https://t.co/jzMjdpoLn3).

At the start, the team really made a product. The first version of Integral, as a classic dex, did not work: there was no competitive advantage. In early 2022, the team pivoted to TWAP Dex without any votes, where it remains at the moment.
Integral's metrics look like this:
TVL last 2 years
And here are their achievements in August
This is not a new startup, this project is three years old.
But as you can see, there is activity in social networks and the infrastructure for the exchange is supported. Moreover, over these three years, the guys added a second network to their protocol, Arbitrum, where the product is now used by as many as 16 users per day.
Some aggregators' TWAPs are routed through Integral, so the exchange really has volumes (eth+arb): $1-3mln per day. But you need to understand that these are transactions with zero commissions. The exchange does not earn anything from the very start, which is standard in crypto.

What about the project token that ICO was built for?
It exists. Zero utility, never had a DAO, a dummy token since TGE, not counting a short staking period (you stake to get even more ITGR lol). But also pretty standard. The community has asked many times to make a DAO or add utilities, but these questions were and are ignored.

So, since the ICO, "building the last DEX" turned out to be a TWAP exchange with 16 daily users, has a static TVL of 2 million (almost all from ICO fund), and zero updates on GitHub. The developers are so busy that in three years they were able to add a second Arbitrum network, completely ignoring the entire L2 boom. It seems that TWAP contracts are not a very difficult job for a team with a budget of 32 million. But perhaps the developers have a plan (spoiler: yes, and they've been following it from the start).

Why did we even decide to talk about this? This is probably one of the best investment deals at the moment.

Let's get back to the 32 million from ICO. The funds raised from ICO went to multisig https://t.co/gFrHL7SRZN (current balance $6.5 million).

There is also a balance here 0x0f4e654D27ccF8F788877E6CdA7396D4628Dc51F (830k) and several LP wallets in Integral itself. Total about $8-9 mln in USDC and Eth.

The current marketcap of the project is 400k, and FDV is $1.3 mln. x30 to the marketcap! Dream!

But hardly any of you will see this money, and here's why.
From the very first month, money was withdrawn from the main wallet to the address 0x5420c34ee18e31d7e0cf13fcfe7cc10a7f6eee85.
From there in the first months
5 mln went to Celsius 0x01adc16ec2e7adb9d550bce8d129ec5ad644fedd,
3 mln to Nexo 0x979c9a0d71c9ec1394f8d42f43791833a20b4013 and so on. It's okay, sometimes developers need comfortable conditions for creativity.

Bit in addition to this, monthly transactions have been going on for all three years. They still haven't stopped. Obviously, this is a salary. The project is active, why not. How much would you rate a monthly call with the community, support via Discord and zero updates on GitHub? The team has its own price list - from 90 to 120k per month. Moreover, they are divided into 7-8 wallets, where the "main" one always has a transfer of 80k.
All three years, monthly transfers of 80k first went to Kraken (0x7cea0096bf59b656214440a145136ad198737050), now they go to HTX (0x2a8be34a44c89f837507b54661c3e6c664b73032).

Agree, not a bad hourly rate for developers. However, the team is no longer there: Wilson Qin has disappeared from the public radar, and the only activity in the discord is created by https://t.co/DtfONSwEzE (@mmarfinetz7, Mitchell Marfinetz) and several support bots/clones.

So, the salary is $1.4 million per year with a project market cap of 400k.
But, of course, that's not all. For such fruitful work, holiday bonuses are needed. For example, New Year's: $1.2 mln on OKX at the end of December 2023 (0x12838509f9d121ccd87456f6deced5e1ef20d6f6).

By the way, last December the balance of the main wallet was $13.5 mln, now it is $6.5mln. I understand the team, because if you withdraw 1.4 million/year, then this whole thing will drag on for 10 years.

Stop and return the remaining $8mln to the poor token holders with their x0.01 - no, we haven't heard of that. Any calls to do this are completely ignored. The only thing that raises questions: why are they delaying the withdrawal of the entire amount for so long? Apparently, there is a fear of regulators?

Well, this is how the last DEX is built, which belongs to the people. In our opinion, these guys do it so beautifully that it is impossible to remain silent about it.

Scammers or a good investment opportunity?

[SunFlower ❤️ Q50 @SpYoct200]

@Merov1ngian @NickDrakon @NickDrakon actually, my questions abount multi-sigs and managings fund is still not anwsered.

[TheGreyMan @Merov1ngian]

We, the undersigned investors of Revelo Ventures, would like to issue a public statement to express our growing concerns regarding the recent developments surrounding the management of funds by Revelo Ventures and particularly by @NickDrakon.

[SunFlower ❤️ Q50 @SpYoct200]

@NickDrakon how come that Revelo Intel working capital & retained earnings, as well as Revelo Ventures was not secured through multi-sig?

[cp0x.com @cp0xdotcom]

love Bybit = love to be rekt

We would not like to write only about provocative cases in crypto, but this is the only way to point out problems in the industry. Today we will talk about the top 3 CEX exchange @Bybit_Official and their pre-market.

As you know, one of the main hits of this season is @Blast_L2. Therefore, many platforms added a pre-market of their token. For example, @aevoxyz, the pioneer of this market, opened the market back in November 2023. Since the premarket on Aevo is Perps, the platform indicated in advance that the calculation on the platform is based on the value of 1 billion Blast tokens. Thus, you can easily estimate the full capitalization and trade it.

After some time, other daps and many CEXs opened the pre-market trading. Bybit stands out here as the large platform. They also decided to open the Blast market at the end of May. But there is a peculiarity: these are not Perps, but P2P of future tokens. However, there was an established Aevo pre-market with 1 billion supply, so users began to trade on Bybit based on these figures. You can look at the trading history and see that the price fully correlates with the chart on Aevo. At the same time, the volumes on Bybit were quite high. For example, these were the deals on Bybit:
2024-06-04 06:34:00
5,000 BLAST at 5.67 USDT = 28,350 USDT
as well as many small ones in the range of 2-6$. All these 4 weeks, the price of Bybit coincided with the price of Aevo.

Today it became known that most likely the supply of the Blast token will be equal to 100 billion tokens. This led to a sharp candle on the Bybit premarket and now the token price is equal to 0.04. Conservative result x0.01 for any size. Yes, rekt to -99%.

Bybit support thoughtfully replies that we only provide a p2p exchange, take a 2% commission and are not responsible for anything else.

You can write that users need to read the terms before taking action. And you will be right. However, this is a terrible precedent when such a large player opens a market where the supply is unknown. Can you imagine how you can trade a token without knowing its supply? How is this even possible? After all, the price can fluctuate hundreds or thousands of times. This is complete absurdity. But instead of opening a p2p premarket (not perp) after the announcement of tokenomics, exchanges are rushing for their commissions and do not care about their users.

We are extremely disappointed with this policy of Bybit. They are trying to become a large player in the industry, but in fact they just want to collect commissions from you, and not create a fair market where the conditions are transparent. For example, when you go to the Blast premarket, you won't immediately find information about an supply until you accidentally click on a small, barely noticeable inscription with a dotted line, where a window with unknown supply will then drop down. Reminds us of our favorite footnotes in bank agreements, so that no one will see them. A great trick, because the main thing is that you trade. Therefore, it is quite easy to get confused, knowing about Aevo as an established premarket brand, on which this market has existed for six months.

Don't treat your users like Bybit does: users are not a cash cow

[SunFlower ❤️ Q50 @SpYoct200]

@zhepomidorov @PrimordialAA the clusters are not always correct, so it would be great for all Bryan could bring in the transparency in your case

[Suslov 「🦑」🦭/acc @zhepomidorov]

@PrimordialAA My 4 personal addresses were included in two big cluster with many false positive wallets. I've explained on this small article why this clusters are 100% wrong. Bryan please check it and toss this cluster if I'm right.
https://t.co/LDEgoiZlQI

[Bitlayer @BitlayerLabs]

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[SunFlower ❤️ Q50 @SpYoct200]

Verifying my Twitter account for my #GalxeID gid:JEHfsZhmZtkxo8fnZaCTQT @Galxe

https://t.co/1hQQYSOaYj

[SunFlower ❤️ Q50 @SpYoct200]

@lovetobluff @XAI_GAMES Its not even nice for a drunk statement, but far worse if sober, its not on a business level such kind of dealing with issues in front of the community and in public.
@XAI_GAMES would like to know what do you think about it?

[SPYO ❤️🌐&🐱 | ETHGas ⛽ @SP_YO_]

@lovetobluff @XAI_GAMES I think we are in crypto not childish enough to know how to deal with critic - provide pro vs contra or admit.
its not elections in the USA so we can stay at least polite and fair towards the competitors.
I like XAI, but I dont like the attitude to the community in this case

[sam2010.lvl🆙���💊 | ETHGas ⛽ @sam2010_ak]

@lovetobluff @XAI_GAMES Even if one is technically superb, there is no need in shitposting other, I vote for fair play in crypto.
@XAI_GAMES plz play fair, you deserve it, we deserve it,

[Rodion Longa | Chaotic Good Crypto @lovetobluff]

@XAI_GAMES why did you delete this screenshot from your TG group?

Your drunkass cofounder in rage mode and probably needs professional help.

Not a good look for the project as I am sure you see.

$xai $xainu $soby

[SunFlower ❤️ Q50 @SpYoct200]

. @Degen_Wars @zaponblast #gigadrops

[Richie | Doges.lens ⌐◨-◨ @twindoges]

Crypto world is not strictly regulated, which is taken advantage of by unscrupulous teams

My friend @harrypotte63465 got caught up in the @JustBetOfficial (built on @WINRProtocol ) scam/error and lost funds

Please help spread this thread around 🧵👇
For Like+RT+reply I will give away free paid-invites to @farcaster_xyz

[SunFlower ❤️ Q50 @SpYoct200]

@twindoges @harrypotte63465 @JustBetOfficial @WINRProtocol Every casino and betting house are as long successful as long they enjoy trust from the community. But here is not that case.
@JustBetOfficial guys, u should change in your twitter bio from Instant rakeback to instant get rekt

[Mall Street @MallStreetNFT]

Today, we're excited to grow the pie.

The Mall Street launch is more than just about being a change-maker of Web3.

This is a big moment for Solana NFTs and 404s. This is for a healthier and sustainable NFT ecosystem.

Today @ 5 PM UTC! 🛍