Working for nothing for three years, Movement's consultant reveals shocking news
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Recently, Coindesk published an article describing my early involvement in the Movement project. The purpose of publishing this tweet is to clarify the facts.
Before Movement was established, I met Cooper offline at Vanderbilt University and proposed incubating a Move-based project, which ultimately led to the birth of Satay. Satay is a yield aggregator, and I provided funding support and assistance in its early stages. When Cooper turned to founding MVMT Labs (before Rushi joined the team), he relied on my advice and help in various aspects from fundraising to tokenomics and emotional support. I worked closely with Cooper to drive the Movement project's launch.
When Rushi joined Movement and took charge of the technical team, the project's vision began to truly take shape. I gradually stepped back from my role as Cooper's close advisor, focusing primarily on go-to-market (GTM) work. This led to a memorandum of understanding (MOU) published by @vannacharma, which was negotiated and signed by Cooper. As the project approached the token generation event (TGE), I again worked closely with Cooper, particularly in providing advice on the upcoming airdrop proposal.
Cooper entrusted me to find a data science team to audit the airdrop dataset based on testnet usage, as the Movement team realized that the dataset they relied on could not even accurately reflect the actual testnet usage.
Due to issues with the dataset, I suggested to Cooper that the rewards be distributed equally among all airdrop participants. However, during this period, Cooper insisted on allowing a specific group of 75,000 wallets to receive the highest token allocation per wallet.
You can find these wallets at https://move-token-tracker.vercel.app and observe their distribution. These wallets are almost the only ones that successfully claimed and bundled-sold over 60 million $MOVE during the Move token airdrop on December 9th. The heat map below shows how these wallets were bundled and quickly sold after claiming the airdrop:
During the claiming process, when we realized the issues with these 75,000 wallets, I again suggested distributing rewards equally to reduce the impact of Sybil attack bundling and selling. However, Cooper chose to increase the claiming fees, which resulted in almost no users being able to claim airdrop rewards except for these 75,000 wallets.
After the airdrop had started, Cooper adjusted the claiming fees, but he did not correspondingly increase the fees for these 75,000 "core-Galxe" wallets to control the impact of Sybil behavior. When users could not claim airdrops because the claiming fees were higher than the airdrop amount, this led most users to postpone and wait to claim airdrops on a fee-free L2.
The problem is that the L2 was not launched within the planned 30 days, leaving many users in a difficult situation. The current narrative is incorrect. Nearly three years ago, Cooper sought my help, and I invested significant effort and time to help Cooper, Rushi, and the team make MVMT successful. In return, I was publicly attacked and lost many opportunities and social capital.
Over the past three years, I have invested considerable time and effort to help MVMT get started. To date, I have not received any compensation, and MVMT apparently has no intention of fulfilling the agreement to pay me the token rewards I deserve.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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