The Binance Alpha turmoil continues (see 'KOGE, ZKJ Netted Overnight, Binance Alpha Forced to Grow'), with market focus shifting to "Which Alpha token will be the next to experience a ZKJ and KOGE-like flash crash?"
Many speculate that AB, featuring former Irish Prime Minister and Serbian President on its official homepage, might be the next project to suffer significant losses. How did a charity project created by an Irish NGO focused on "technology for good" become one of the top-traded tokens on Binance Alpha? How did a project launched on April 12th this year become a Binance Alpha listing in just two months? Odaily will provide a brief introduction to the AB DAO project for readers' reference.
Binance Alpha's Most Abstract Episode: Former Serbian President as Community Reviewer, Token FDV Reaches $1.5 Billion
On June 7th, Binance Alpha announced AB token as its latest listing, offering 9,882 AB token airdrops to users with Alpha scores of 225 or higher. At the time, AB token price was around $0.01, and the listing news was followed by a slight price drop. The token contract was launched around 13:46 on June 4th.
Ten days later, AB token had risen to the top of Binance Alpha trading volume - according to @pandajackson's Dune dashboard, Binance Alpha trading volume dropped below $1 billion on June 15th, reporting $777 million, continuously declining since June 8th. That day, ZKJ trading volume was $417 million, KOGE $91.72 million, and AB $65.69 million, ranking top three respectively.
After the ZKJ and KOGE token flash crashes, many suddenly realized that AB token's FDV is as high as $1.5 billion, comparable to established projects like CAKE, LIDO, and S. If this was merely "surprising", the following project information might be somewhat "shocking".
Listing AB Token's Abstract Aspects: Community Members Mostly European Politicians, Top Holder Owns Over 97%
To understand a project, its official website is often the primary source, and AB DAO's website not only has a "retro" style but also contains extremely eye-catching information.
AB Community: Led by Serbian President, European Politicians Gathered
According to AB DAO's official website, the project's main team members are a "gathering of European political figures", including:
Board of Directors: Composed of multiple former European national leaders, chaired by former Irish Prime Minister Bertie Ahern (served three terms, facilitated the Belfast Agreement). Other members include: Lawrence Gonzi (former Maltese Prime Minister); Péter Medgyessy (former Hungarian Prime Minister); Danilo Türk (former Slovenian President); Petar Stoyanov (former Bulgarian President).
Senior Advisory Committee: Covering five continents, including nearly 30 current and former national leaders, international organization heads, and policy experts, forming a "global public welfare strategic engine". Some advisors include: Joanna Nurse (World Health Organization senior expert); Maha Ibrahim Mohamed Morsy (wife of former Egyptian Prime Minister Essam Sharaf, social welfare and education leader); Kateryna Yushchenko (former Ukrainian First Lady, medical and child welfare advocate); Antonina Stoyanova (former Bulgarian First Lady, UN legal expert); Milena Dobronic (wife of former Bolivian President Jorge Quiroga, social services and education advocate).
Legal Support: A legal advisory team composed of multiple renowned law firms to ensure operational compliance.
Other important figures include: Olusegun Obasanjo (former Nigerian President, former African Union Chairman); Malcolm Byrne (current Irish parliamentarian, AI Committee Chair); Jorge Quiroga (former Bolivian President); Viktor Yushchenko (former Ukrainian President).
Additionally, AB team members include senior strategic partner Ma Xingli, founder of World Outstanding Chinese Award; Fuchsia Capital Executive Director and core contributor Zeng Junhao, and the previously mentioned AB blockchain community reviewer, Serbian President Boris Tadić. In terms of team lineup, AB truly spans politics and business, seemingly "controlling half of Europe".
More Abstract Information: Top Holder Owns Over 97%, Official Twitter Renamed Twice, Highly Likely a Fishing Contract
Beyond the website's abstract information, AB token's holding structure is also extremely "peculiar", making one wonder: Can Binance Alpha list projects so casually now?
According to GMGN, AB token's FDV is $1.5 billion, liquidity pool around $1.5 million, 24-hour trading volume reaching $1.4 billion (differing from Alpha's $1 billion), with the top wallet 0x762 controlling about 97.29% of tokens, while the second-ranked Binance wallet address holds only 0.71%; according to Binance Alpha interface, total token supply is 98.82 billion, with current circulation of 61.78 billion.
Moreover, AB token contract's rugpull, open-source, pool abandonment, and lock indicators are unknown; the official X platform account has undergone two name changes, previously @ABDAO_Global and @newton_project. Unexpectedly, AB DAO is also a "startup veteran" in a sense.
This project full of talking points has a technical selling point that sounds impressive: Its website states, "AB is a high-performance, modular, heterogeneous blockchain network, with core token AB achieving cross-chain deployment through AB Connect, practicing the 'AB Anywhere' concept; application scenarios include stablecoin issuance, payment network infrastructure, and decentralized public welfare, building an open, trustworthy global value infrastructure. Transparency guarantee: Recording all fund flows on blockchain to ensure public verifiability and enhance public trust."
It resembles a "retro narrative crypto project" from the 2017-2018 ICO craze, hastily assembling a team, bringing in white faces to raise funds, especially with the added "charity gimmick". It's not that there aren't enough strange situations in the cryptocurrency world, but rather that too few are widely known.
Summary: Binance Alpha Urgently Needs Rectification
Currently, Binance Alpha has gradually lost its original intent of "tracking Alpha token projects", instead becoming a farce game of "I'll list for show, you'll score for show".
With abstract projects like AB able to list on Alpha, it's no wonder many crypto project founders are embracing MEME coins or jumping into the AI entrepreneurship wave. Of course, as a "scoring project", adopting a quick in-and-out trading strategy might be an option, but conversely, if not quick enough, you might end up footing the bill for this feast.
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