Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
The turmoil of Binance Alpha is still going on (see KOGE and ZKJ were closed overnight, and Binance Alpha was forced to grow ), and the market focus has shifted to Which Alpha token will be the next to experience the same flash crash as ZKJ and KOGE?
Many people have speculated that AB, which puts the former Irish Prime Minister and the former President of Serbia on the homepage of its official website, may be the next project to suffer huge losses. How did a charity project created by an NGO registered in Ireland and focusing on technology for good suddenly become the top-traded token on Binance Alpha? How did this project, which was officially launched on April 12 this year, become a Binance Alpha project in just two months?
Odaily Planet Daily will briefly introduce the AB DAO project in this article for readers’ reference.
The most abstract episode of Binance Alpha: Former Serbian President serves as community auditor, token FDV reaches $1.5 billion
On June 7, Binance Alpha announced that the latest project to be launched was the AB token . Users with a Binance Alpha score of 225 or more could apply for an airdrop of 9,882 AB tokens. At that time, the price of the AB token was around $0.01. After the news of the launch of Binance Alpha was released, it also saw a slight drop; and the token contract was launched at around 13:46 on June 4.
And 10 days later, AB tokens have jumped to the top of Binance Alpha’s trading volume——
According to the Dune data panel produced by @pandajackson, Binance Alphas trading volume fell below the $1 billion mark on June 15, reaching $777 million, and has continued to decline since June 8; on the same day, ZKJs trading volume was $417 million, KOGEs trading volume was $91.72 million, and ABs trading volume was $65.69 million, ranking the top three.
Dune Data Panel
After the flash crash of ZKJ and KOGE tokens, many people in the market suddenly realized that the FDV of AB tokens was as high as 1.5 billion US dollars. The token projects of the same level are old projects such as CAKE, LIDO, and S. If this is just surprising, then the following information about the project may be a little scary.
The abstract features of AB tokens: Most of the community members are European politicians, and the top holdings account for more than 97%
To look at a project, its official website information is often the main source of information. AB DAO’s official website is not only quite “retro” in style, but the information contained in it is also extremely shocking.
AB Community: Led by the President of Serbia, many European politicians gathered
According to the AB DAO official website, the main team members of this project are “European dignitaries”, including:
Board of Directors: It is composed of many former European leaders, with former Irish Prime Minister Bertie Ahern as the Chairman (who served three terms as Prime Minister and facilitated the Belfast Agreement). Other members include: Lawrence Gonzi (former Prime Minister of Malta); Péter Medgyessy (former Prime Minister of Hungary); Danilo Türk (former President of Slovenia); Petar Stoyanov (former President of Bulgaria).
Senior Advisory Committee: Covering five continents, including nearly 30 current and former heads of state, heads of international organizations and policy experts, forming a global public welfare strategic engine. Some of the advisors include: Joanna Nurse (senior expert of the World Health Organization); Maha Ibrahim Mohamed Morsy (wife of former Egyptian Prime Minister Essam Sharaf, leader in social welfare and education); Kateryna Yushchenko (former first lady of Ukraine, advocate of medical and child welfare); Antonina Stoyanova (former first lady of Bulgaria, legal expert of the United Nations); Milena Dobronic (wife of former Bolivian President Jorge Quiroga, advocate of social services and education).
Legal support: A legal advisory team composed of several well-known law firms ensures operational compliance.
Other key figures include: Olusegun Obasanjo (former President of Nigeria and former Chairman of the African Union); Malcolm Byrne (current Irish MP and Chairman of the Artificial Intelligence Commission); Jorge Quiroga (former President of Bolivia); Viktor Yushchenko (former President of Ukraine).
In addition, the AB team members also include senior strategic partner and founder of the World Outstanding Chinese Award Ma Xingli; Fuchsia Capital executive director and core contributor Zeng Junhao; and the AB public chain community auditor and Serbian President Boris Tadić mentioned earlier. In terms of team member lineup, AB spans politics and business, and can be said to control half of Europe.
Screenshot of AB DAO official website
More abstract information: The number one position exceeds 97%, the official account has changed its name twice, and it is highly likely to be a phishing contract
Apart from the abstract information on the official website, the holding structure of AB tokens is also extremely “peculiar”, which even makes people sigh after reading it: Can Binance Alpha launch projects so casually now?
According to GMGN information , the AB token FDV is 1.5 billion US dollars, the liquidity pool is about 1.5 million US dollars, and the 24-hour transaction volume is 1.4 billion US dollars (which is different from the 1 billion US dollars counted by Alpha). The wallet 0x762 on the list controls about 97.29% of the tokens, while the second-ranked Binance wallet address has only 0.71% of the tokens; according to the Binance Alpha interface , the total number of tokens is 98.82 billion, and the current circulation is 61.78 billion.
In addition, the indicators of the AB token contract, such as Pixiu, open source, pool waiver and lock-up, are all unknown; the official X platform account has also undergone two name changes, @ABDAO_Global and @newton_project. What is unexpected is that AB DAO is actually a veteran entrepreneur in a sense.
GMGN Token Information
Even though this is a project with so many flaws, its main technical selling point seems quite impressive:
According to its official website, AB is a high-performance, modular, heterogeneous blockchain network. The core token AB is deployed across chains through AB Connect, practicing the concept of AB Anywhere; application scenarios: its blockchain technology is used for stablecoin issuance, payment network infrastructure and decentralized public welfare, building an open and trusted global value infrastructure. Transparency guarantee: All capital flows are recorded through blockchain to ensure public verifiability and enhance public trust.
It looks a bit like a retro narrative crypto project that was launched to raise funds by putting together a makeshift team and hiring some white faces during the 1CO craze in 2017 and 2018, especially with the added charity gimmick.
It has to be said that the strange phenomena in the cryptocurrency circle are not few in number, but too few of them are widely known.
Summary: Binance Alpha is in urgent need of rectification
At present, Binance Alpha has gradually lost its original intention of tracking the Alpha token project and has gradually become a farce game of I pretend to list coins, and you pretend to brush scores.
As an abstract project like AB can be listed on Alpha, it is no wonder that many founders of crypto projects have embraced Meme coins or turned to the AI entrepreneurship boom. Of course, as a score-brushing project, if you adopt a fast-in-fast-out trading interaction, it may also be an option, but on the contrary, if you are not careful and do not run fast enough, you may have to pay for this feast.
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