Recently, the Gor token on the Solona chain rose 400 times in 24 hours, and its market value once exceeded 40 million US dollars. The whole incident actually started with the founder of MetaLeX @lex_nodes concern about Solanas decentralization. This topic triggered a reply from Solana co-founder Toly on the social media X. The back-and-forth communication between the two parties on X gradually revealed the concept behind the token.
Gabriel Shapiro Who is this?
Before becoming the general counsel of Delphi Labs, Gabriel Shapiro lex_node was originally a lawyer in the Silicon Valley office of a Wall Street law firm, specializing in helping technology companies such as Paypal and FaceBook with buy-side acquisitions. The turning point for joining the cryptocurrency industry was also a coincidence. During a Valentines Day dinner date, he received a call from a FaceBook shareholder, asking him to return to the office to help Mark Zuckerberg complete the acquisition of WhatsApp.
It is said that Mark met the WhatsApp team by chance in a restaurant and persuaded them to sell the company. The deal was completed within 5 days. Gabriel Shapiro, the lawyer in charge of the acquisition, conducted in-depth research on WhatsApps end-to-end encryption technology while studying WhatsApp, and took this opportunity to gain a deeper understanding of the cryptocurrency industry.
In 2015, he came into contact with Ethereum and attended an Ethereum conference. The speaker at the conference happened to be Nick Szabo, who was once considered to be Satoshi Nakamoto himself. He was vividly describing The DAO on the stage, which made him, who is also a lawyer, deeply fascinated by it. He believes in the DAO-type economic system that automatically regulates and operates through procedures and rules.
He built MetaLeX for the theory of New Cybernetic Economic DAO, which connects DAOs to the real world through a unique set of on-chain protocols and off-chain legal arrangements, by combining autonomous on-chain code with off-chain legal entities, thereby creating cybernetic organizations that are flexible, efficient, legal, and accountable to their DAOs.
Ethereum Classic = Solana, Ethereum = Gorbagan?
Yesterday, Gabriel Shapiro launched a heated debate on chain legitimacy and trademark control. Gabriel Shapiro reviewed the fork of Ethereum after the THE DAO incident in 2016, pointing out that the Ethereum Foundation relied on the control of the Ethereum and ETH trademarks to successfully shape the new chain after the hard fork into the orthodox version and demote the original chain to Ethereum Classic.
In his opinion, this fact shows that the so-called decentralization is actually subject to Web2-style legal power at a critical moment. He further warned that the Ethereum Foundation may have lost effective control over the ETH trademark because brands such as MegaETH and ETHDenver have long been widely used without authorization.
He believes that if a company owns a trademark but there is no credible and neutral rule to determine how it is used, then the project is not truly decentralized/autonomous. In his opinion, this fact shows that the so-called decentralization is actually subject to Web2-style legal power at a critical moment. Solonas founder Toly responded to this, No matter where you are, as long as everyone uses the same ledger, the brand name is not important.
It is also proposed that if Solana forks one day, one chain will retain the original name Solana and $SOL token, and the other chain will call itself Gorbagana with the logo oscar the grouch.png. This naming method is easy to associate with the homonym of garbage, making the narrative more ironic.
Toly responded by saying, If no one makes a Gorbagana chain within 48 hours, Ill be disappointed.
At the same time, a meme coin named Gor was launched through Pumpfun. Its prototype comes from Oscar the Grouch, a garbage character in Sesame Street. He is a green hairy monster who lives in a garbage can and is known for his grumbling, love of garbage and world-weary attitude. The word Gorbagana itself is obviously derived from a sarcastic variation of Garbage.
The token market value quickly climbed to $1.6 million and attracted the attention of Toly, who commented on the icon of three trash cans. This move triggered a thorough Fomo in the community, and the $Gor market value exceeded $10 million in a short period of time.
What’s even more ironic is that Gor-chain was actually developed by @MidTermDev in less than 48 hours, and after Toly responded to it, the token market value hit a new high of over $40 million.
However, @MidTermDev s account may have been hacked afterwards, and a new token was launched (currently almost zero). Currently, @MidTermDev has been banned, and the development team is taken over by the CTO, with core members including @0rdlibrary , @Sarv_shaktiman , etc.
Another Cabal Feast? Who Made Money on $GOR?
Behind this capital carnival, it is intriguing that the wallet address starting with A 4 DC, which ranks first in the profit ranking of Gor tokens, has also received 861 Sol in the IBRL tokens, and is currently ranked fourth in the profit ranking. Among them, IBRL is also a project that Toly focuses on. On the on-chain data tracking platform Arkm, the domain name of this address is circled.sol, and it has financial transactions with the certified entity wallet coyote, which points to the X account @ 4 pfcoyot .
When the market value of $Gor fell back to 7-8 million US dollars, coyote bought a total of 350 Sol. Coincidentally, Toly responded to the tweet about the development of Gor-chain soon after, which caused the market value of Gor to soar to 40 million US dollars. And coyote also took advantage of this wave of increase to complete the liquidity exit and made a profit of more than 1,500 Sol. After this anti-human operation, coyote made a huge profit. As of now, coyote has earned 1,780 Sol on $GOR, ranking first in the profit list.
In stark contrast, the well-known Chinese KOL on the chain operated calmly. Although he had bought 200 Sol at the average price of 4 million US dollars, he sold a large number of chips when the price rose to 7 million US dollars. Later, the narrative developed further. He chose to sell a large number of chips when the market value reached 11 million US dollars, and then chased higher at 25 million US dollars, eventually pulling the average price to about 26 million US dollars, and currently only made a floating profit of 370 Sol.
Unlike Fomo’s retail investors, some in the community believe that “Gor” is not as interesting as it seems. @imperooterxbt bluntly stated that the token was created by the same team as “GORK”, but there seems to be a lack of reliable evidence.
Although this social experiment may seem like just another “conspiracy feast” to most people in the community, Gabriel Shapiro’s mention of “decentralized branding” does reflect a long-standing problem. Since Ethereum can be “arbitrarily” transformed into Ethereum Classic, can Gorbagana also replace Solana?
