BenSonkhor retweetledi
🚨 The $WLFI launch mess - explained 🚨
1. Launch day (Sept 1)
- Community: meant to be 5%, but really 4% went live (not everyone used the lockbox).
- Liquidity & marketing: 2.8% (not 1.6% like first reported).
- Together = 6.8% circulating supply.
- Other allocations (10% ecosystem + 7.8% Alt5 Sigma) weren’t truly circulating, they just weren’t locked in smart contracts with vesting.
2. Justin Sun’s stash
- He owned 3% of the total supply.
- Only 20% of his stash was unlocked at launch, the rest (80%) was still locked.
- He publicly said he wouldn’t sell.
3. The weird price action
- $WLFI launched at $0.20 ($1B market cap).
- Billions in trading volume, tons of hype.
- But price kept sliding down, even though the community wasn’t really selling. The PA looked robotic.
4. What likely happened
- Exchanges may have dumped part of their 2.8%.
- Justin Sun allegedly funneled $WLFI through HTX (his exchange), offering users 20% APY to deposit WLFI.
- This let him dump ‘his entire stack’ while making it look like user deposits were being staked.
- he was going to fill the gap in user tokens with his own stack when too many sell or withdraw.
5. The fallout
- Sun got caught. Reports say he used user deposits to dump his personal tokens that were still locked for a while.
- His address was frozen.
- Retail realized they were exit liquidity.
👉🏽 And once again retail gets slaughtered while insiders rig the game.
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