Original author: Aunt Ai (X: @ai_ 9684 xtpa )
I saw the news this morning that Wintermute becomes the third largest holder of $GOAT, holding 1% of the total supply of tokens. But just as airdropping tokens to Vitalik Buterin is a publicity stunt, airdropping tokens to market makers is nothing new.
So here comes the question:
- How to determine whether market makers are truly involved?
- Typical examples of market making
- Examples used only as promotional material
1/ Take GOAT as an example
1. Falsification: It is true that 10 million GOAT are held and the contract address is correct; do not underestimate this step, as many issuers promote market makers under the name of the same token.
2. Identify the source of funds: Tracing back, it was found that four addresses transferred millions of tokens to 7 GNPT….snUM 1, and all of them were early-stage addresses with extremely high returns, with a cumulative profit of 11.63 million US dollars!
Four early entry addresses for depositing coins to Wintermute:
3kjF7ZXfMYo1dqxFNE7WVtQ38zZSciptu1deWYibre1m (the source buying address of CAnS 7...JZT 86)
BNPntzDuH7EofLrHGA7gjbeNvJQbEvvrGrCPCTCNXf7v
9pLzvD3s5g7nWbMbURPvYQgHp4piosoVLrxiEgr58v3d
EUES49UdAkevnREj5YShNXpWjX5DN44uCJQo7yfaggot
3. Check the market makers operation: After receiving the token, it did two things. First, it transferred 1 token to Wintermute 1 and immediately transferred it back. This is an obvious confirmation address action. Second, all tokens were distributed to the Wintermute 3 address after two transfers.
Seeing this, it is basically certain that Wintermute is actively participating in GOAT market making. As for whether it is OTC coin buying/instructed by the project party or a spontaneous behavior, it is unknown.
4. Stay tuned: Ultimately, it depends on whether Wintermute 3 frequently conducts GOAT transactions. If so, it can be confirmed.
2/ Typical examples of market making
Wintermute participated in market making of capitalized $NEIRO: it once held 4.35% of the total supply of tokens and was once the largest holder. After receiving the tokens, it actively maintained frequent transactions with major exchanges and DEXs.
3/ Typical example of a product that is used only as a promotional tool
This type generally has several characteristics:
Direct airdrop by project owner/DEV
Usually airdropped to market makers and well-known founders in the cryptocurrency circle, such as Vitalik Buterin and Sun Ge.
The market maker does not take any action after receiving it (V God may sell it directly)
The community has made a high-profile announcement that a certain institution has participated in market making
As for pulling down and stepping down, I won’t give actual examples here. You can check these characteristics yourself.
