Responding to the recent price crash and insider dumping rumors, Axis Robotics stated that 83.5% of tokens held by the team and investors remain locked in a Binance-co-managed…
Original source excerpt
Responding to the recent price crash and insider dumping rumors, Axis Robotics stated that 83.5% of tokens held by the team and investors remain locked in a Binance-co-managed vesting contract, with n…
Responding to the recent price crash and insider dumping rumors, Axis Robotics stated that 83.5% of tokens held by the team and investors remain locked in a Binance-co-managed vesting contract, with no unlocks for 12 months. The offloaded tokens came from the initial circulating ecosystem allocation, which were handed to an OTC counterparty to onboard non-crypto entities, but the counterparty allegedly breached lock-up terms and dumped them on the open market. Axis has paused ties, initiated legal action, and pledged to distribute future ecosystem tokens solely via on-chain vesting. ZachXBT pushed back, questioning why it took the team two full days to notice 25% of the TGE float being dumped, and why they neither stopped the sell-off nor issued a public statement before his post.
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