StepN team is possibly rugpulling!!!
So, the data I have is:
StepN litepaper tells us that advisors will start having access to their tokens (2.5% or 150.000.000 GMT ) in Feb 2023, starting with 0.1% unlock.
If you'll look at distribution, there are 3 largest accounts:
One with 89.448% of total supply, which are tokens that are meant to be minted in future
Second one with 420.000.000 GMT or 7.005% which are tokens sold on binance launchpad
Third one with now 146.420.732 GMT or 2.442% of total supply. This 3rd address had exactly 150.000.000 millions of tokens (which is exactly the amount only few days ago, but yesterday I noticed that the amount was starting to drop)
You may think that this drop is related to the token burn their team was talking about, but:
As soon as they told that they have started to burn tokens, I checked and noticed that they were burning tokens that are meant to be minted in the future, i.e. tokens from that super large 89.448% address
This address still had 150 millions, and they were burning tokens everyday, as they promised, but only yesterday I saw the decrease
At the same time the amount of GMT was decreasing, the amount of USDC was increasing.
Also right at this time there were high volumes on pancakeswap and other DEX on GMT/USDC pair
Also if you count 6,000,000,000(total supply inicially) - 5,995,829,118.99 (total supply at the moment of writing this) = 4,170,882 tokens burnt
But that 4BiywDAiuDrhqetK9U1EsFeLnXzALxaMcmQFCLaPTyKM address had exactly 150,000,000 - 146,420,732 (at the moment of writing) = 3,579,268
so, the math does not come up in any direction
So, the data I have is:
StepN litepaper tells us that advisors will start having access to their tokens (2.5% or 150.000.000 GMT ) in Feb 2023, starting with 0.1% unlock.
If you'll look at distribution, there are 3 largest accounts:
One with 89.448% of total supply, which are tokens that are meant to be minted in future
Second one with 420.000.000 GMT or 7.005% which are tokens sold on binance launchpad
Third one with now 146.420.732 GMT or 2.442% of total supply. This 3rd address had exactly 150.000.000 millions of tokens (which is exactly the amount only few days ago, but yesterday I noticed that the amount was starting to drop)
You may think that this drop is related to the token burn their team was talking about, but:
As soon as they told that they have started to burn tokens, I checked and noticed that they were burning tokens that are meant to be minted in the future, i.e. tokens from that super large 89.448% address
This address still had 150 millions, and they were burning tokens everyday, as they promised, but only yesterday I saw the decrease
At the same time the amount of GMT was decreasing, the amount of USDC was increasing.
Also right at this time there were high volumes on pancakeswap and other DEX on GMT/USDC pair
Also if you count 6,000,000,000(total supply inicially) - 5,995,829,118.99 (total supply at the moment of writing this) = 4,170,882 tokens burnt
But that 4BiywDAiuDrhqetK9U1EsFeLnXzALxaMcmQFCLaPTyKM address had exactly 150,000,000 - 146,420,732 (at the moment of writing) = 3,579,268
so, the math does not come up in any direction
