Chaos occurs frequently, projects run away, and the "pre-sale money making" model has come to an end.

Original title: "Chaos in the donation model is frequent, and the "I, Qin Shihuang, making money" gameplay will collapse within a week? 》

Original author: Nan Zhi, Odaily Planet Daily

As  BOME  started the trend of "making money" model, In the early days, a number of crypto projects with high wealth effects emerged, and the amount of funds raised continued to rise. However, due to overheated sentiment, the market's requirements for fund-raising sponsors have continued to decrease, and chaos has occurred frequently. Degens who are keen on pursuing the "new model" have also experienced a roller coaster of emotions, from showing off their profits, to laughing with tears, to scolding the project side for being unfair.

Yesterday, Solana co-founder Anatoly Yakovenko forwarded ZachXBT’s statistical chart on Solana chain pre-sale projects (27 Solana chain pre-sales The total amount of funds raised for the pre-sale projects exceeded 65.5 million SOL), and they called for a stop to allocating money to pre-sale projects.

This article will focus on the risk points - a review of donations that have gone away project to explore how long the wealth effect of this model can last.

The money disappeared

Avalanche The fundraising project Sener has raised a total of funds There are approximately 93,000 AVAX, worth approximately $4.8 million, but at the opening last night, the founder only added 20,000 AVAX to the LP pool, and then transferred the rest All AVAX. The project token SENDER only rose slightly at the opening. The project side has not used the remaining funds to buy back or perform other market protection operations. The token has now entered a comprehensive sell-off stage.

The founder @4msener and the project dedicated account @Sender_MEME have not released any relevant content since the token was launched.

Sell "Value Coins" for you

Whales Market founder @dexter_cap (hereinafter referred to as  dexter)’s project token WHALES  has a circulating market value of US$38.6 million, and FDV reaches US$185 million , due to its successful project background, was originally one of the most reliable project parties among donation sponsors, but its series of shady operations yesterday began to worry about the project's prospects.

  With a value of nearly US$30 million, the market began to worry about running away.

Soon after, the address was transferred back from Binance to 15, 979 SOL, accounting for its previous deposit to Binance.  10% of SOL .

One hour after the above token transfer operation, dexter posted a message on the Go to the Binance section to exchange for stablecoins to avoid the sharp depreciation of SOL. At the time before and after the transfer to Binance, the price of SOL  was approximately 178 USDT, close to the lowest point of the day. Some users believed that their active selling behavior caused the price drop of SOL , and more users believed that  SOL's upside potential is greater, and this move dilutes the overall value of the project. Then came the following voices: "I don't know how to do swings myself?" "You want to sell it into a stable currency, why don't you raise a stable currency"...

Recite poems, draw cakes, and then run away

Compared The formula of "I, Qin Shihuang, make money", @MerlinOrbitX's fundraising method is still a bit novel. The project team has posted many times to build a character that "works hard to develop but does not pay attention", but the donation model of MerlinChain is very popular Insufficient, the final fund raised was approximately hundreds of thousands of dollars.

In terms of token share, the usual donation modeled on BOME  The routine is - 50% Tokens and raised funds constitute LP, 50% tokens are airdropped to donating users. However, in some subsequent projects, the proportion of raised funds increased to LP or the share of airdrops decreased, which was generally reduced to 20%-30%. OrbitX "creatively" reduced the airdrop share to  2.5%  and told users that they would be profitable after a hundredfold increase.

Only two hours after the market opened last night, the OrbitX project address withdrew all funds from the LP pool. At present, the tokens have returned to zero, and the X  platform account has also Logged out.

Conclusion

The donation model continues to spread to multiple chains, and the proportion of project parties taking funds, canceling and running away is gradually increasing. Although there are still a few projects (such as Milady Wif Hat) that choose to refund all 90,000 SOL concurrent coins. But overall, the wealth effect is getting weaker and weaker, and the profit-loss ratio is gradually decreasing. It is recommended that investors remain vigilant in related models.

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