The turmoil surrounding Binance Alpha continues (see "KOGE, ZKJ's overnight crackdown, Binance Alpha forced to grow"), and the market's focus has shifted to "Which Alpha token will similarly stage a flash crash like ZKJ and KOGE?".
Many people speculate that placing the former Prime Minister of Ireland and the former President of Serbia on the official homepage as AB may be the next project to suffer huge losses. How did a charity project created by an NGO registered in Ireland, which focuses on "technology for good," suddenly transform into a token that ranks among the top in trading volume on Binance Alpha? Why has this project, which only officially launched on April 12 of this year, become a listing project on Binance Alpha in just two months?
Odaily will provide a brief introduction to the AB DAO project in this article for readers' reference.
Binance Alpha The most abstract episode: Former Serbian president as community auditor, token FDV reaches 1.5 billion dollars
On June 7, Binance Alpha announced its latest project launch for the AB token. Users with a Binance Alpha score of 225 or higher can claim an airdrop of 9,882 AB tokens. At that time, the price of the AB token was around $0.01, and following the announcement of its launch on Binance Alpha, it experienced a slight decrease; the contract for this token was launched around June 4 at 13:46.
And 10 days later, the AB token has jumped to the forefront of trading volume on Binance Alpha—
According to the Dune data dashboard created by @pandajackson, on June 15, Binance Alpha's trading volume fell below the $1 billion mark, reporting $777 million, continuing to decline since June 8; on that day, ZKJ's trading volume was $417 million, KOGE's trading volume was $91.72 million, and AB's trading volume was $65.69 million, ranking the top three.
Dune Data Dashboard
After experiencing the flash crash events of the ZKJ and KOGE tokens, many talents in the market suddenly realized that the FDV of the AB token actually reached as high as 1.5 billion dollars, in contrast to other token projects of the same level, such as CAKE, LIDO, and S. If this is still merely "surprising," then the following information about the project may seem somewhat "chilling."
Listing the Abstract Aspects of AB Token: The community members are mostly European political figures, with the top holder accounting for over 97% of the holdings.
To evaluate a project, its official website information often serves as the primary source, and the official website of AB DAO not only has a rather "retro" style, but the information it contains is also extremely surprising.
AB Community: Led by the President of Serbia, European politicians gather.
According to information from the AB DAO official website, the main team members of the project can be described as "a gathering of European political figures," among which:
Board of Directors: Composed of several former European national leaders, chaired by former Irish Prime Minister Bertie Ahern (who served three terms and facilitated the Belfast Agreement). Other members include: Lawrence Gonzi (former Prime Minister of Malta); Péter Medgyessy (former Prime Minister of Hungary); Danilo Türk (former President of Slovenia); Petar Stoyanov (former President of Bulgaria).
Senior Advisory Board: Covering five continents, it includes nearly 30 current and former national leaders, heads of international organizations and policy experts, forming the "strategic engine of global philanthropy". Some of the consultants include: Joanna Nurse (Senior Expert, World Health Organization); Maha Ibrahim Mohamed Morsy (Mrs. Essam Sharaf, former Prime Minister of Egypt, leader in the field of social welfare and education); Kateryna Yushchenko (former First Lady of Ukraine, Medical & Child Welfare Advocate); Antonina Stoyanova (former First Lady of Bulgaria, UN legal expert); Milena Dobronic (Mrs. Jorge Quira, former President of Bolivia, social service and education advocate).
Legal support: A team of legal counsel composed of several well-known law firms to ensure operational compliance.
Other important figures include: Olusegun Obasanjo (former President of Nigeria, former Chairman of the African Union); Malcolm Byrne (current Member of Parliament from Ireland, Chair of the Artificial Intelligence Committee); Jorge Quiroga (former President of Bolivia); Viktor Yushchenko (former President of Ukraine).
In addition, the AB team members also include senior strategic partner and founder of the Outstanding Chinese in the World Award, Ma Xingli; Executive Director and core contributor of Fuchsia Capital, Zeng Junhao; and the AB public chain community auditor mentioned earlier, Serbian President Boris Tadić. In terms of the composition of team members, AB spans both politics and business, and can be said to "have a foothold in half of Europe."
AB DAO official website screenshot
More abstract information: The top holder's position exceeds 97%, the official Twitter has changed names twice, and it is highly likely to be a phishing contract.
Apart from the abstract information on the official website, the holding structure of the AB token is also quite "peculiar", even making one exclaim after reading: Is Binance Alpha now able to launch projects so casually?
According to GMGN information, the AB token FDV is $1.5 billion, the liquidity pool is around $1.5 million, and the 24-hour trading volume has reached $1.4 billion (which differs from Alpha's reported $1 billion). The top wallet 0x762 controls approximately 97.29% of the tokens, while the second wallet on Binance holds only 0.71% of the tokens. According to the Binance Alpha interface, the total supply of the tokens is 98.82 billion, with a current circulation of 61.78 billion.
In addition, the indicators for the AB token contract such as Pi Xiu, open source, pool waiver, and lock-in are all unknown; the official X platform account has also undergone 2 name changes, namely @ABDAO_Global and @newton_project. What is surprising is that AB DAO is, in a sense, also a "veteran entrepreneur."
GMGN Token Information
This is a project full of槽点, and its main technical selling point looks rather impressive:
Its official website states that "AB is a high-performance, modular, heterogeneous blockchain network. The core token AB enables cross-chain deployment through AB Connect, embodying the concept of 'AB Anywhere'; Application scenarios: Its blockchain technology is used for stablecoin issuance, payment network infrastructure, and decentralized public welfare, building an open and trustworthy global value infrastructure. Transparency assurance: All fund flows are recorded on the blockchain, ensuring public verifiability and enhancing public trust."
It looks quite like the "retro narrative crypto projects" from the 2017 and 2018 ICO craze, where you just gather a makeshift team and bring in a white face to start fundraising, especially with the added "charity gimmick."
I have to say that the bizarre situations in the cryptocurrency circle are not uncommon, but rather too little known.
At present, Binance Alpha has gradually lost its original intention of "tracking Alpha token projects" and has instead turned into a farcical game of "I pretend to list tokens, and you pretend to score points."
Just like abstract projects like AB can go on Alpha, it's no wonder that many cryptocurrency project founders are embracing Meme coins or jumping into the AI entrepreneurship craze. Of course, as a "score-farming project," if one adopts a fast-in-and-out trading approach, it might be a choice. However, on the flip side, if you're not careful and don't move fast enough, you might end up footing the bill for this feast.
Related Reading
Continue to brush Binance Alpha, which tokens have a better cost-performance ratio?
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Binance Alpha reappears as a "divine plate"; will the AB led by the President of Serbia be the next ZKJ?
Original | Odaily Daily Report (@OdailyChina)
Author｜Wenser（**@wenser 2010 ）
The turmoil surrounding Binance Alpha continues (see "KOGE, ZKJ's overnight crackdown, Binance Alpha forced to grow"), and the market's focus has shifted to "Which Alpha token will similarly stage a flash crash like ZKJ and KOGE?".
Many people speculate that placing the former Prime Minister of Ireland and the former President of Serbia on the official homepage as AB may be the next project to suffer huge losses. How did a charity project created by an NGO registered in Ireland, which focuses on "technology for good," suddenly transform into a token that ranks among the top in trading volume on Binance Alpha? Why has this project, which only officially launched on April 12 of this year, become a listing project on Binance Alpha in just two months?
Odaily will provide a brief introduction to the AB DAO project in this article for readers' reference.
Binance Alpha The most abstract episode: Former Serbian president as community auditor, token FDV reaches 1.5 billion dollars
On June 7, Binance Alpha announced its latest project launch for the AB token. Users with a Binance Alpha score of 225 or higher can claim an airdrop of 9,882 AB tokens. At that time, the price of the AB token was around $0.01, and following the announcement of its launch on Binance Alpha, it experienced a slight decrease; the contract for this token was launched around June 4 at 13:46.
And 10 days later, the AB token has jumped to the forefront of trading volume on Binance Alpha—
According to the Dune data dashboard created by @pandajackson, on June 15, Binance Alpha's trading volume fell below the $1 billion mark, reporting $777 million, continuing to decline since June 8; on that day, ZKJ's trading volume was $417 million, KOGE's trading volume was $91.72 million, and AB's trading volume was $65.69 million, ranking the top three.
Dune Data Dashboard
After experiencing the flash crash events of the ZKJ and KOGE tokens, many talents in the market suddenly realized that the FDV of the AB token actually reached as high as 1.5 billion dollars, in contrast to other token projects of the same level, such as CAKE, LIDO, and S. If this is still merely "surprising," then the following information about the project may seem somewhat "chilling."
Listing the Abstract Aspects of AB Token: The community members are mostly European political figures, with the top holder accounting for over 97% of the holdings.
To evaluate a project, its official website information often serves as the primary source, and the official website of AB DAO not only has a rather "retro" style, but the information it contains is also extremely surprising.
AB Community: Led by the President of Serbia, European politicians gather.
According to information from the AB DAO official website, the main team members of the project can be described as "a gathering of European political figures," among which:
In addition, the AB team members also include senior strategic partner and founder of the Outstanding Chinese in the World Award, Ma Xingli; Executive Director and core contributor of Fuchsia Capital, Zeng Junhao; and the AB public chain community auditor mentioned earlier, Serbian President Boris Tadić. In terms of the composition of team members, AB spans both politics and business, and can be said to "have a foothold in half of Europe."
AB DAO official website screenshot
More abstract information: The top holder's position exceeds 97%, the official Twitter has changed names twice, and it is highly likely to be a phishing contract.
Apart from the abstract information on the official website, the holding structure of the AB token is also quite "peculiar", even making one exclaim after reading: Is Binance Alpha now able to launch projects so casually?
According to GMGN information, the AB token FDV is $1.5 billion, the liquidity pool is around $1.5 million, and the 24-hour trading volume has reached $1.4 billion (which differs from Alpha's reported $1 billion). The top wallet 0x762 controls approximately 97.29% of the tokens, while the second wallet on Binance holds only 0.71% of the tokens. According to the Binance Alpha interface, the total supply of the tokens is 98.82 billion, with a current circulation of 61.78 billion.
In addition, the indicators for the AB token contract such as Pi Xiu, open source, pool waiver, and lock-in are all unknown; the official X platform account has also undergone 2 name changes, namely @ABDAO_Global and @newton_project. What is surprising is that AB DAO is, in a sense, also a "veteran entrepreneur."
GMGN Token Information
This is a project full of槽点, and its main technical selling point looks rather impressive:
Its official website states that "AB is a high-performance, modular, heterogeneous blockchain network. The core token AB enables cross-chain deployment through AB Connect, embodying the concept of 'AB Anywhere'; Application scenarios: Its blockchain technology is used for stablecoin issuance, payment network infrastructure, and decentralized public welfare, building an open and trustworthy global value infrastructure. Transparency assurance: All fund flows are recorded on the blockchain, ensuring public verifiability and enhancing public trust."
It looks quite like the "retro narrative crypto projects" from the 2017 and 2018 ICO craze, where you just gather a makeshift team and bring in a white face to start fundraising, especially with the added "charity gimmick."
I have to say that the bizarre situations in the cryptocurrency circle are not uncommon, but rather too little known.
Summary: Binance Alpha urgently needs restructuring
At present, Binance Alpha has gradually lost its original intention of "tracking Alpha token projects" and has instead turned into a farcical game of "I pretend to list tokens, and you pretend to score points."
Just like abstract projects like AB can go on Alpha, it's no wonder that many cryptocurrency project founders are embracing Meme coins or jumping into the AI entrepreneurship craze. Of course, as a "score-farming project," if one adopts a fast-in-and-out trading approach, it might be a choice. However, on the flip side, if you're not careful and don't move fast enough, you might end up footing the bill for this feast.
Related Reading
Continue to brush Binance Alpha, which tokens have a better cost-performance ratio?