Sniping or Tactics? Edel's Token Release Ignites Discussion on DeFi Equity
- Edel Finance-linked wallets allegedly bought 30% of EDEL tokens via bot-driven "sniping" tactics, sparking DeFi fairness concerns. - The $11M acquisition involved 160 wallets funded through Binance/MEXC, with half distributed to 100 secondary wallets linked to MEXC. - Despite co-founder's defense of the strategy, EDEL's market cap dropped 62% as governance transparency and tokenomics centralization drew criticism. - The incident highlights risks in rapid token launches and regulatory scrutiny amid growin
Wallets associated with Edel Finance have come under investigation after reportedly securing 30% of the EDEL token supply during its launch on November 12,
Bubblemaps revealed that these wallets received
The EDEL token, which supports a lending platform for tokenized stocks and real-world assets (RWAs), has seen its market value fall to $14.9 million,
The sniping controversy brings to light widespread concerns about how tokens are distributed in the crypto industry. While some believe that early adopters using bots are simply part of market behavior, others argue these strategies are unfair and manipulative. This discussion is especially relevant in DeFi, where decentralization is a fundamental value.
Edel’s co-founder has yet to elaborate on the token allocation process, leaving the community to speculate about the company’s motives. At the same time, the project’s tokenomics—featuring a total supply of 1 billion EDEL and a circulating supply of 1.4 million—point to significant centralization at launch
This dispute adds to a turbulent year for tokenized assets, both in terms of regulation and market activity. In October, Ondo Finance expanded its tokenized products to the
As the cryptocurrency sector evolves, incidents like this are likely to impact investor confidence and attract regulatory attention. For now, Edel Finance’s response to these issues and its commitment to transparency will be crucial in shaping its future within the DeFi landscape.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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