Yzy Money, a same -based Solana based to you (formerly Kanye West)made his debut earlier Thursday with puffy gains and equally strong controversy.
On Thursday, Ye’s X account posted on the token at the beginning of Asian hours, which submitted immediate concerns concerning the fact that it is a compromised account. He then published a video showing that you speak and confirming the program (It is not clear if it is the real Ye or a generation of AI).
The token briefly affected $ 3.16 at the start of negotiations – an overvoltage of almost 6,800% compared to its issue price – some trackers claiming that it briefly ordered a market capitalization of $ 3 billion.
Behind the frenzy is supposed to be the wider Yzy ecosystem, which Ye’s team presented as including a Yzy Pay processor for transactions and a Yzy card for global expenses from Yzy and USDC.
Yzy’s structure was revealed for the first time by Coindesk in February, which indicated that 70% of the offer would go directly to you personally, with 10% for liquidity and 20% for public sale.
At the time, the initiates declared that Ye had initially demanded an 80% participation – the same allocation structure linked to the Trump token in Donald Trump – before being negotiated. The project also transported heavy luggage from the start. You had previously declared that “the coins prey to fans with media threw” before going back and approving Yzy.
Sources told Coindesk that the token was supposed to imitate the success of Trump, even if Argentina was turned by a similar scandal when the scale of the scale approved by President Javier Milei collapsed in pump-And-Dump.
The criticisms then pointed out – and now – that such heavy distributions of initiates completely include the risk for retail buyers, especially when associated with a unilateral liquidity pool.
The distribution of tokens shows 20% allocated to the public, 10% to liquidity and 70% in Yeezy Investments LLC, locked for 24 months as part of a structured acquisition agreement via Jupiter Lock.
To prevent manipulation based on bots, 25 contract addresses were initially deployed, with a single random selected as an official token. This anti -Sniping 1 in 25 configuration was presented as a more equitable launch – but the chain data suggests that initiates always had prior access.
The Lookonchain analysis account identified the 6MNWV8 portfolio as knowing the address of the contract in advance. The wallet even tried to buy Yzy before launch. Once live, he spent 450,611 USDC to acquire 1.29 million tokens at around $ 0.35 each. He then sold 1.04 million Yzy for 1.39 million USDC, leaving 249,907 tokens worth around $ 600,000 – reserving a profit of more than $ 1.5 million.
“Insider Wallet 6MNWV8 knew the address of the contract in advance and even tried to buy yesterday,” wrote Lookonchain on X.
The Onchain objective reported an even larger whale which invested 12,170 soil (approximately $ 2.28 million) For 2.67 million Yzy. Current assets are estimated at $ 8.29 million – an unrealized gain of approximately $ 6 million.
Only Yzy tokens were sown in the liquidity pool, without pairing against the USDC. This unique configuration allows developers or large holders to add and delete liquidity in a way that allowed them to be removed, a structure similar to the controversial balance token.
“Only $ Yzy was added to the liquidity pool without $ USDC. Dev can sell $ yzy by adding / deleting liquidity, similar to $ libra,” noted Lookonchain.
Media threshing and fast gains show how much speculation still leads to Solana’s mecoins.
Meanwhile, Yzy has already slipped to almost $ 1, some early buyers taking heavy strokes.
Channel data shows that the 6ZFNRH portfolio spent 1.55 million USDC to buy 996,453 Yzy at $ 1.56, to sell $ 1.06 for $ 1.05 million – reserving a loss of almost $ 500,000 in less than two hours.
Read more: you, “ nazi ‘self -proclaimed who said `corners prey of fans”, plans the yzy token
