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Sniping or Tactics? Edel's Token Release Ignites Discussion on DeFi Equity

Sniping or Tactics? Edel's Token Release Ignites Discussion on DeFi Equity

Bitget-RWA2025/11/26 11:14
By:Bitget-RWA

- Edel Finance-linked wallets allegedly bought 30% of EDEL tokens via bot-driven "sniping" tactics, sparking DeFi fairness concerns. - The $11M acquisition involved 160 wallets funded through Binance/MEXC, with half distributed to 100 secondary wallets linked to MEXC. - Despite co-founder's defense of the strategy, EDEL's market cap dropped 62% as governance transparency and tokenomics centralization drew criticism. - The incident highlights risks in rapid token launches and regulatory scrutiny amid growin

Wallets associated with Edel Finance have come under investigation after reportedly securing 30% of the EDEL token supply during its launch on November 12,

. Reports suggest that around 160 wallets, funded through a coordinated approach involving Binance and MEXC, acquired the tokens using a method similar to "sniping," where automated bots purchase tokens immediately at launch. This $11 million acquisition has sparked debate about fairness and openness in DeFi projects centered on tokenized assets.

Bubblemaps revealed that these wallets received

(ETH) and were organized through several layers of new wallets before making trades. Half of the tokens bought were split among 100 additional wallets, all connected to MEXC, which the platform claims demonstrates a "direct connection between the team and the snipers." The analytics provider also noted that the token contract code specifically included these secondary wallets, implying deliberate concealment. , asserting that the actions were in line with the project's planned token distribution.

Sniping or Tactics? Edel's Token Release Ignites Discussion on DeFi Equity image 0

The EDEL token, which supports a lending platform for tokenized stocks and real-world assets (RWAs), has seen its market value fall to $14.9 million,

, according to CoinMarketCap. This sharp decline highlights the difficulties new DeFi ventures face, especially those operating at the intersection of traditional finance and blockchain technology. by lending out tokenized shares, a model gaining popularity as platforms such as Finance broaden their tokenized asset services. Still, the recent controversy may damage confidence in the project’s governance, which is vital for DeFi protocols that depend on community involvement.

The sniping controversy brings to light widespread concerns about how tokens are distributed in the crypto industry. While some believe that early adopters using bots are simply part of market behavior, others argue these strategies are unfair and manipulative. This discussion is especially relevant in DeFi, where decentralization is a fundamental value.

the intensifying race among projects to tokenize real-world assets, a movement gaining momentum as major institutions like BlackRock and Fidelity enter the space.

Edel’s co-founder has yet to elaborate on the token allocation process, leaving the community to speculate about the company’s motives. At the same time, the project’s tokenomics—featuring a total supply of 1 billion EDEL and a circulating supply of 1.4 million—point to significant centralization at launch

. Such arrangements are often criticized for concentrating value among early participants, which can hinder broader adoption over time.

This dispute adds to a turbulent year for tokenized assets, both in terms of regulation and market activity. In October, Ondo Finance expanded its tokenized products to the

Chain, while into (ZEC). These developments reflect a broader trend toward diversifying reserves and utilizing blockchain for institutional-grade solutions. However, the Edel situation demonstrates the risks of rapid token launches and the importance of strong governance to ensure fair participation.

As the cryptocurrency sector evolves, incidents like this are likely to impact investor confidence and attract regulatory attention. For now, Edel Finance’s response to these issues and its commitment to transparency will be crucial in shaping its future within the DeFi landscape.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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