500 million dollars were collected, but was it just?

ICO has closed the highly expected plasma (the first currency offer) for its XPL code its cellar after raising $ 500 million from more 1100 deposit.

The event, which represents an amazing offer to spread capital and gas wars, has sparked fears among members of society.

The ICO plasma raises $ 500 million in the madness of whales, and expects to open 1-2 billion dollars?

Although the symbol has not been launched yet, expectations already exceed that the final opening may bring one billion to two billion dollars, if not more.

“We have reached the maximum deposit of $ 500 million. We are happy that more than 1,100 governors participated, with an average deposit amount of $ 35,000. Trillion,” plasma Declare.

Amid addresses and noise, however, a deeper story appears. Fears of whale dominance and internal access extend to a growing feeling that the unique symbol launch processes have become increasingly entered into the encryption elite.

The numbers show that a handful of wallets only represents large allocations. More specifically, the first three shareholders alone have published more than 100 million dollars.

Perhaps more shocking, according to one user’s 39 ETH (about $ 104,871 at the current rates of $ 2,689) in gas fees, which they received for $ 10 million to allocate USD.

“This man spent 100,000 in gas (230,000 GWEI) to get a plasma deposit,” books Monamoon, founder of Duck Frens Nft.

This shows the intensity of Fomo and the lengths that the participants were ready to go to early access. Nevertheless, the frenzy came at a cost of a reputation. With the whales taking the lion’s share, many call this launch on anything fair.

“… it is a clear skipping of society … only 100 wallets with 50 million dollars each … this portfolio alone will create an increase in subscription 100x … Unfortunately, it is not a fair absolute, although the price is very attractive,” to caution X user before closing.

Although only 10 % of the total XPL supply in general sale at a price of $ 500 million (fully reduced evaluation) is provided, retail users have been effectively paid to the side lines. They are likely to enter only later, from 10x to 16x price.

Critics criticizing technology in plasma and tokeenomics-ico was a lock and not at all

This sharp contrast has some “sale of whales”, instead of launching available to the wider society. Moreover, there may be more than just bad optics in playing. Hanzo’s encryption dealer raised dangerous red flags, indicating the possibility of coordinated coordinator’s behavior.

Hanzo calls for more than 100 wallets, each receives $ 48 million, before the distinctive symbol is launched, highlighting that some of these approved wallets of symbolic reactions before the symbolic contract is announced.

“This means that the insiders had early access to mint and trade. This was not a surprise launch – it was a special party. The retail was invited.” Claim.

Lifting mechanics also raises questions. It was hosted on Sonar/Echo, which some are called the “Coinlist menu for this course”, a stake raised from the voting deposits that determine the period of plasma deposit.

Participants had to lock stablecoins on Ethereum, with a minimum of 40 days. However, with a sudden raising the deposit ceiling to $ 500 million and almost occupied, many users were left wondering whether this is supposed to serve as an open opportunity.

Even technology that supports plasma has not escaped checking. The user collapsed with the structure of the chain and found that it lacks.

“Plasma is another L1 series … it uses the classic PBFT CD”, with proof of creativity … and bitcoin as “settlement” simply by spreading state differences … It looks a lot like many Alt-L1 chocolate … It browses on the “side” marketing campaign that is pushed and is largely paid. male.

In his opinion, the use of plasma for influencers and Bitcoin brands is the most marketing shell of artistic material.

However, not everyone agrees. Zaheer from SplitCapital praised the distribution, with a sign of a wide -held distribution with more than 1,100 wallets and only one wallet owns $ 50 million.

“All things are a good distribution of plasma holders at a total of $ 500 million of deposit. Seeing a ton of people with smaller amounts here and only one entity for $ 50 million in a wallet. I mentioned In a post.

According to Zaheer, this contradicts the typical icos -dominated ICOS and suggests a more comprehensive allocation strategy.

ICO of Plasma works as a market for market mechanics today, where speed, size and some for communications are often more than innovation or access.

Whether the plasma becomes an essential chain or another warning tale that depends on the lock cancellation numbers and how the ecosystem exhibitions beyond the ICO noise.