Public chain project Solana’s meme coin project $LADYF announced the token contract this afternoon, but it was revealed that some people were able to pre-deploy purchases. Some individuals only spent 0.5 SOL (90 USD) and made nearly 800,000 USD in profit.
(Prior Summary:
Meme coin SLERF accidentally burned 50,000 SOL, founder apologizes: “I’m ready to go to jail”… Token skyrockets)
(Supplementary Background:
BOME sparked the “entrepreneurial dog wave” on Solana, KOLs collectively warn: be careful of being scammed, pay attention to risks!)
Solana’s recent meme coin BOME has sparked a frenzy of meme coin issuance similar to ICOs, with various projects starting public fundraising and attracting frenzied pursuit from the community. Against this backdrop, meme coin project $LADYS announced on the 18th that its new meme coin, Milady Wif Hat, has started pre-sale and has exceeded the fundraising target in a short period of time.
Originally, LADYS planned to return 75% of the extra funds raised to investors and invest 25% into the liquidity pool. However, perhaps fearing user backlash, they later stated that they will refund 100% of the excess funds, and all tokens will be directly distributed to participants, causing the community to exclaim, “They really have big plans!”
Plot twist: Front-running by insiders
Unexpectedly, the plot took a big twist. Today, when the official token contract was to be announced in the afternoon, the community discovered that some people were able to front-run purchases. According to on-chain data, a user (address: G95..) purchased 2.89 billion $LADYF tokens at the time of $LADYF token release by only spending 0.5 SOL (about 90 USD).
Less than two seconds later, the user sold 1.73 billion $LADYF tokens at a price of 6 SOL. In subsequent trades, the user sold 57 million $LADYF tokens at a price of 1,522 SOL (about 274,000 USD). Currently, this user still holds 58.7 million $LADYF tokens, worth about 287 SOL (about 516,000 USD), making a profit of 800,000 USD in a short period of time.
What is even more questionable is that the project provided liquidity on the decentralized exchange Raydium for only 1 SOL, and with many addresses pre-purchasing, the community feels very dissatisfied, believing that the project blatantly wants to scam retail investors.
Community KOLs criticize $LADYF
$LADYF’s opening saw holders of pre-deployed positions dumping, and the current price is at 0.00008314 USD, a decrease of over 97% from its peak.
LADYF|Source: Dexscreener
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