What is the intention behind the project party's increase of 23,607,670,448 tokens!??
1. Lever Network: A decentralized leveraged trading platform for DeFi, based on the AMM model, supporting 3x spot leverage long and short trading. Users can deposit assets to earn interest or engage in collateralized borrowing, leveraging liquidity from DEXs like Uniswap, characterized by sufficient liquidity.
2. LEVER Token: The ERC-20 token of the LeverFi protocol serves as a medium of exchange and holders can participate in governance. The LeverFi lending pool offers 10x leverage, and LEVER tokens are used to reward users and contributors.
3. On-Chain Leverage: A tool for borrowing more funds to trade with a small amount of capital (margin), based on blockchain technology, featuring transparency and automated processes, enabling lending, liquidation, and other operations through smart contracts.
🔥 LEVER was once a top-performing meme coin, but during a market rally, it suddenly issued over 10 billion tokens, causing a crash that was even more unfavorable than the Alpaca project. Binance urgently halted deposits, which allowed some retail investors to hedge their risks. The project party exploited retail investors' belief in the cycle of meme coins, such as after three meme coins, BTC rebounded.
💥 Using 116,000 liquidity as bait, they made a smokescreen with old seasonal memes to withdraw funds. Despite the market being educated by the Alpaca experience, it remains difficult to guard against their counter-strategy of crashing prices. More dangerous than the explosive rise of meme coins is the project party's bottomless increase in issuance.
