# MileiMemeCoinControversy

$LIBRA memecoin over the weekend, with backers such as Kelsier Ventures, KIP Protocol, among others, with the stated goal of funding Argentina’s economic development.

The launch generated massive hype, pushing the coin’s fully diluted valuation (FDV) to an eye-watering $4.5 billion.

However, the tokenomics were heavily skewed in favor of insiders, with 95% of the supply unlocked for team members and early investors.

Here’s everything that happened since then.

Liquidity was initially provided through a single-sided LP on Meteora.