Uncovering 1intro: Analyzing the Incident and Project-KOL Agreements
On the evening of April 14th, 1intro, claimed to be the first native LBP project on Solana, launched its token $1INTRO through the LBP mechanism. Solana, as one of the hottest trading blockchains this year, has seen many projects with significant wealth effects. However, it has also seen a large number of fraudulent projects, with many wild projects that initially promised pre-sale payments ultimately pulling the rug, causing players to suffer losses. Therefore, a native LBP on Solana seems timely, potentially filling the narrative and token issuance gap in the Solana ecosystem. But the higher the expectation, the greater the disappointment. If you search for 1intro on Twitter, you will find that many KOLs were promoting this project enthusiastically 1-2 weeks ago, placing high hopes on it. However, the price changes in the LBP process tell the most honest story. At the opening, $1INTRO surged to a high of $1.13, translating to a fully diluted valuation (FDV) of approximately $1 billion. However, its price quickly plummeted, with the token price dropping by over 90% within just one day. Additionally, with a pre-set token sale quantity of 200 million, only 62.27 million had been sold by the time of writing, showing slow progress.Overvaluation and KOLs Holding