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FollowingLAPTOP memoin plunged 99%, which the team blamed on robots and lack of liquidity.
After the memoin named LAPTOP made its debut on the Base chain on September 9, its price fell sharply on the first day of trading. The project team subsequently issued a statement blaming the plunge on attacks by automated sniper robots and serious deficiencies in initial liquidity.
According to a report from blockchain data analysis platform Bubblemaps, about 80% of traders suffered losses. Among them, two wallets lost between $100,000 and $1 million, and about 100 wallets lost more than $10,000. In addition, about 700 wallets lost more than $1000, and nearly 11,000 wallets suffered smaller losses.
Faced with severe market fluctuations, the project team announced that it would use 4 million tokens for liquidity incentives and plans to destroy another 10 million tokens to stabilize market sentiment.
Details of the plunge and official response
According to reports, the LAPTOP memo coin has fallen by about 98% to more than 99% from its early trading peak. The project founder's X (formerly Twitter) account was temporarily suspended. The team released a detailed situation statement through the Medium platform, emphasizing that the foundation has not withdrawn from the $LAPTOP project, but is working hard to restore account rights. During this period, the foundation will communicate its latest views through the Medium channel.
The team stated in a statement that the opening price of the initial trading pool was US$0.05 per token. As market demand far exceeded the liquidity available to market makers, prices surged rapidly and then collapsed. At the same time, the team accused the sniper robot of attacking the newly opened trading platform, which was also one of the important reasons for the volatility. However, it should be pointed out that this explanation only represents the team's unilateral statement and not the final conclusion reached by an independent investigation.
Liquidity incentives and token destruction program
In response to this sell-off, the foundation announced that it will invest 4 million tokens as liquidity incentives for the Aerodrome platform starting at midnight on September 10. This quantity accounts for 0.4% of the total supply.
At the same time, the LAPTOP team stated that the results of two predicted events were in line with expectations, triggering a plan to destroy 10 million tokens. This is equivalent to 1% of total supply, but is not a 1% reduction in verified circulation supply. One incident involved artist Beeple's public mention of the project, corresponding to the destruction of 5 million tokens; the second specific incident was not clearly stated in the statement.
Statement on Position and Compliance
Biden said the team is seeking to restore its suspended official X account. The foundation denied making pre-sales and did not allocate tokens to investors or Internet celebrities. According to information disclosed by the team, the project founder holds 30% of the total supply of LAPTOP memes, which are in a six-month lock-in state and implement a two-year linear release plan. Currently, these tokens are managed by Coinbase Custody.
Disclaimer : This article is for reference only and does not constitute any financial advice. Readers should conduct their own research and bear the corresponding risks before making any financial decisions.
