Don't play with the Korean stick's coin!

1. Control situation of IP coin

The control ratio of IP coin is very high, about over 90%. The official claims that the circulation is 24.99% and that 10% of the coins will be airdropped to the community. However, the actual situation is that the community has only received 7,128,243 coins. By calculation:

7128243249900000=0.0285\frac{7128243}{249900000} = 0.02852499000007128243​=0.0285

This ratio is far lower than the official claim of 10%, and most of the tokens circulating in the market are still held by the project party.

2. Always hanging buy orders at a low price

According to a Twitter article by Chen Jian, there exists a large ghost buy order that is always below the market price by 0.02-0.03. These buy orders will not be executed regardless of market changes, but will convey a strong support signal to the market. Many quantitative strategies may be affected, mistakenly believing that there is strong support below the market.

3. Control strategy and funding rate

Currently, the project party has consumed most of the scarce chips in the market, and the control situation has approached 95%. At this time, they sell in the spot market while opening large long positions in the contract market, ensuring that the spot price is higher than the contract price, thus maintaining a negative funding rate. Through this operation, they can attract more short players to enter the market, thereby collecting funding rates.