Original｜Odaily Planet Daily (@OdailyChina)
The turmoil surrounding Binance Alpha continues (see "KOGE, ZKJ suddenly collapse overnight, Binance Alpha forced to grow"), and the market's focus has shifted to "which Alpha token will play out a similar flash crash scenario as ZKJ and KOGE?"
Many speculate that the AB, featuring the former Prime Minister of Ireland and the former President of Serbia on its official homepage, might be the next project to suffer significant losses. How did a charity project created by an NGO registered in Ireland, which promotes "technology for good," transform into one of the top trading tokens on Binance Alpha? Why has this project, which officially launched on April 12 of this year, managed to become a listed project on Binance Alpha in just two months?
Odaily Planet Daily will provide a brief introduction to the AB DAO project in this article for readers' reference.
The most abstract episode of Binance Alpha: Former Serbian president as community auditor, token FDV reaches $1.5 billion
On June 7, Binance Alpha announced the latest listed project as the AB token, allowing users with a Binance Alpha score of 225 or higher to claim 9,882 AB tokens in an airdrop. At that time, the price of the AB token was around $0.01, and following the announcement of its listing on Binance Alpha, it experienced a slight decline; the token contract was launched on June 4 at around 1:46 PM.
Just ten days later, the AB token had surged to the top of Binance Alpha's trading volume—
According to the Dune data dashboard created by @pandajackson, on June 15, Binance Alpha's trading volume fell below $1 billion, reporting $777 million, continuing a decline since June 8; on that day, ZKJ's trading volume was $417 million, KOGE's was $91.72 million, and AB's was $65.69 million, ranking in the top three.
Dune data dashboard
After experiencing the flash crash events of the ZKJ and KOGE tokens, many in the market suddenly realized: the FDV of the AB token is as high as $1.5 billion, comparable to established projects like CAKE, LIDO, and S. If this is merely "surprising," then the following information about the project may seem somewhat "chilling."
Counting the abstract aspects of the AB token: Community members are mostly European political figures, with the top holder accounting for over 97%
To evaluate a project, its official website often serves as a primary source of information, and the AB DAO's website not only has a rather "retro" style but also contains extremely shocking information.
AB Community: Led by the former president of Serbia, a gathering of European political figures
According to information on the AB DAO official website, the project's main team members can be described as "a gathering of European political figures," including:
Board of Directors: Composed of several former national leaders from Europe, chaired by former Irish Prime Minister Bertie Ahern (who served three terms and facilitated the "Belfast Agreement"). Other members include: Lawrence Gonzi (former Prime Minister of Malta); Péter Medgyessy (former Prime Minister of Hungary); Danilo Türk (former President of Slovenia); Petar Stoyanov (former President of Bulgaria).
Senior Advisory Committee: Covering five continents, including nearly 30 current and former national leaders, heads of international organizations, and policy experts, forming a "global public welfare strategic engine." Some advisors include: Joanna Nurse (senior expert at the World Health Organization); Maha Ibrahim Mohamed Morsy (wife of former Egyptian Prime Minister Essam Sharaf, leader in social welfare and education); Kateryna Yushchenko (former First Lady of Ukraine, advocate for healthcare and children's welfare); Antonina Stoyanova (former First Lady of Bulgaria, UN legal expert); Milena Dobronic (wife of former Bolivian President Jorge Quiroga, advocate for social services and education).
Legal Support: A legal advisory team composed of several well-known law firms to ensure operational compliance.
Other important figures include: Olusegun Obasanjo (former President of Nigeria, former Chair of the African Union); Malcolm Byrne (current Irish MP, Chair of the Artificial Intelligence Committee); Jorge Quiroga (former President of Bolivia); Viktor Yushchenko (former President of Ukraine).
Additionally, the AB team includes senior strategic partner and founder of the World Outstanding Chinese Award, Ma Xingli; Executive Director of Fuchsia Capital and core contributor Zeng Junhao, as well as the previously mentioned community auditor of the AB public chain, former Serbian President Boris Tadić. In terms of team composition, AB spans both political and business sectors, essentially "holding half of Europe."
Screenshot of AB DAO official website
More abstract information: Top holder accounts for over 97%, official Twitter account renamed twice, highly likely a phishing contract
Aside from the abstract information on the official website, the holding structure of the AB token is also quite "peculiar," leading one to exclaim: Can Binance Alpha really list projects so casually now?
According to GMGN information, the FDV of the AB token is $1.5 billion, with a liquidity pool of about $1.5 million, and a 24-hour trading volume of $1.4 billion (which differs from the $1 billion reported by Alpha), with the top wallet 0x762 controlling approximately 97.29% of the tokens, while the second-ranked Binance wallet address holds only 0.71%; according to the Binance Alpha interface, the total supply of tokens is 98.82 billion, with a current circulating supply of 61.78 billion.
Moreover, the AB token contract's indicators for liquidity, open-source status, pool abandonment, and locking are all unknown; the official X platform account has also undergone two name changes, first to @ABDAOGlobal and then to @newtonproject. Unexpectedly, AB DAO is somewhat of a "veteran" in a certain sense.
GMGN token information
In such a project filled with red flags, its main technical selling point appears quite impressive:
The information on its official website states, "AB is a high-performance, modular, heterogeneous blockchain network, with the core token AB enabling cross-chain deployment through AB Connect, embodying the 'AB Anywhere' concept; application scenarios: its blockchain technology is used for stablecoin issuance, payment network infrastructure, and decentralized public welfare, building an open and trustworthy global value infrastructure. Transparency assurance: all fund flows are recorded on the blockchain, ensuring public verifiability and enhancing public trust."
It seems reminiscent of the "retro narrative crypto projects" from the 2017-2018 ICO frenzy, especially as it layers on the "charity gimmick."
One must say, the bizarre phenomena in the cryptocurrency circle are not that there aren't enough, but rather that too few are widely known.
Conclusion: Binance Alpha urgently needs restructuring
Currently, Binance Alpha has gradually lost its original intention of "tracking Alpha token projects" and has instead turned into a farcical game of "I pretend to list tokens, you pretend to boost scores."
With abstract projects like AB being able to go live on Alpha, it’s no wonder that many crypto project founders are embracing meme coins or shifting to the AI startup craze. Of course, as a "score-boosting project," if one adopts a quick in-and-out trading approach, it might be a choice, but conversely, if one is not careful and doesn't move fast enough, this feast may end up costing you.
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Continue to explore Binance Alpha, which tokens offer better value?
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