One year later: one gigantic pump to just below ICO price (for 1 hour), $HBAR is stalled at ~30% of ICO with years more pain to come. It& #39;s safe to say it will never see 12c again.

But we& #39;re not here to talk about that. Today& #39;s horror show is the upcoming $GRT Graph Token:

1/x https://twitter.com/adanthar/status/1174829386677325824">https://twitter.com/adanthar/...

$GRT is an upcoming token sale with massive amounts of hype. It& #39;s being talked about everywhere because The Graph are one of the few teams with an actual product that people in crypto actually use IRL. I have absolutely nothing bad to say from a technical standpoint.

But...

2/x

The tokenomics on $GRT are venture capitalist hell.

The ICO is priced at 3c, fully unlocked.

The seed rounds? .001-.003, up 10x-30x day one. They& #39;re vested, though!...for six months. The VC dumpfest on this will be brutal.

But wait, there& #39;s more.

3/x

In between seed and public, $GRT also had a & #39;strategic round& #39; for people who actually use their software IRL. Each of their & #39;partners& #39; got a SAFT offer for that round.

The offer was .026 (10% off public, +800% from seed). With 1yr cliff+1yr vest.

4/x

Using the public sale to let the VCs exit is time honored tradition in crypto (& stonks). That& #39;s a terrible look, but caveat emptor.

But here, Graph& #39;ve gone the extra mile of graciously letting their best customers buy in at a 10% discount to public with +2 years lockup.

5/x

The fallout from this:

-VCs will immediately move on when they can
-The public will be dumped on, as always
-And as an extra bonus, the people this incredible tokenomics pisses off the hardest are the ones that $GRT has the most to lose by upsetting

6/x

I don& #39;t know who designed that sale. But the blatant nature of the cash grab is enough that I will go the extra mile and yell about this into the Twitter void. Which is hard for me to do about the rare company whose tech I actually like!

Looking forward to $GRT futures.

fin