Proposal: Onboard Vitadao (VITA) with 100,000 BNT Trading Liquidity
As a follow-up to the transaction highlighted on the previous post, the participant looks to have paid 1347 ETH for a minimum of 1,531,702 VitaDAO tokens, and received 3,367,500 at the auction conclusion. There was no price for the VitaDAO token prior to this auction, and the valuation dropped 60% shortly after establishing an initial price. This looks like a typical presale. Thanks to @DarkKnight for illuminating these details.
The team has confirmed that the wallet belongs to a highly motivated supporter of the project. It’s not a big issue - the token has established liquidity on Balancer, both as a 50/50 pool and an 80/20 pool, and also on Uniswap V3. Even if this user had nefarious intent, the damage they could inflict is massively tempered against the available liquidity. The 80/20 pool on Balancer has $1.7M in liquidity, but due to the skew in the curve, can absorb a disproportionate quantity of selling pressure on the VitaDAO side. Price manipulation tactics are still a risk with such a whale present, but their on-chain activity does not reflect any such desire. If anything, they are guilty only over being highly enthusiastic. Fingers crossed they are interested in providing liquidity on Bancor.
The Automaton will vote FOR the whitelisting of VitaDAO.