âť—$WATER TGE, Distribution and Market-Making Operations
Overview
On the day of launch, some users might have seen this very "transparent" claim from some questionable sources:
"BREAKING! THE $WATER TEAM IS SELLING TOKENS!" with some big numbers.
We will not try to question the credibility of cush projects as "lookonchain" that seemingly use it to the advantage of its investors over the communities of various projects, but explain what exactly happened, what is a scam, and how to understand some actions we didn't explain much being busy with the issues themself.
This page provides an in-depth explanation of the $WATER Token Generation Event (TGE), detailing its distribution process, the role of Gotbit in market-making operations, and the outcomes of these actions. This information is structured in an FAQ format for easy navigation and understanding.
What is $WATER TGE?
The $WATER Token Generation Event (TGE) marks the official launch of the $WATER token, where tokens are distributed to Presale participants and become available for trading on various platforms.
That's the moment when the token starts to have value and it is a very important moment for any project as any news or problem can f*ck up everything for everyone!
So, what's the problem? Or why are "on-chain analysts" concerned about the $WATER team sales?
Some "analysts" raised concerns because they believed that token sales "by team" might negatively impact the community. However, these sales were conducted by Gotbit (Market Maker) as part of their market-making operations to stabilize the market and ensure fair opportunities for all investors.
To be transparent here are ALL Market Making wallets connected to price stabilisation actions:
4g2kx7wBxtfECYkLPFD45n4qa9LDAYxvHV2W7hqSik9d 7xgYXvGk3ZYopUHVjWHpNr4C2EyzTWCs1zGmDfCqXtML G4YtFB5ub2nqhWHun7iRrUfLqvVkLTio79P4Y9NYYW8t 4fJD9yTJLeLmL1DmetSFUEvMt5iUuvFdeYkEuRy1ykQN Hkis3upSquodZZF2dsJK6wJ8uVtzmEqMeh5BcQCbuV37 DfRAHXz8RwbZGf77C2FndfbhSkZNjxW7zbPPe9CXKBV7 GNWWsDfKXq2f4XSAUvFEMtAAHFj8cDHR5infHFonQeZ4 9tbbEZ8vCBtgy48FpAWJo2mYcN4xiins9h2W8fGoTDNA CGpQKcbPLX92UDZWhxB3hR3FPC3bAPRz7AiVhJom6m1r FPFkWbtFp4ry8sJMK6uYuRn64xXMqjuuiy8vHeWwe8oM 6MGnS7aGJ5RaFupGMjEiCa7HpEqkV1NQibewk2R1sm1b
Ok, but why they did do that? (Or what are snipers in the crypto world, and how do they affect token launches?)
At the moment of launch the $WATER coin was a target of snipers. Snipers are traders who use automated tools to buy large quantities of tokens immediately after they are listed, causing an initial price pump.
You all have seen how tokens started to cost more than 10 times the initial price in a matter of seconds.
It is not some kind of "magic" that makes prices high or low. These actions can harm the community by creating artificial price surges. During the $WATER TGE, several independent snipers triggered the initial price increase and we HAD to sell tokens to avoid the case of them making a sudden huge dump.
How did Gotbit handle the impact of snipers on the $WATER TGE?
Gotbit actively sold tokens during the initial price pump caused by snipers. This strategy takes assets out of the "pump" and redirects funds from snipers to support genuine presale investors, ensuring price stability and benefiting long-term holders to avoid a sudden "dump" for the whole community.
How was the $WATER token distribution process managed? Why it took so long?
The Solana chain does not always work very fast. If we take a huge automated distribution it's not as fast as a single swap (which can just fail sometimes, no?) or transaction.
The distribution process involved sending tokens to over 30,000 wallets on the Solana blockchain, which took several hours. The $WATER team adopted a "small to large" distribution model, where smaller investors received their tokens first, and 90% of the presale volume was distributed in the last 10 minutes to large investors who had invested between 180 and 200 SOL.
What was the purpose of Gotbit's market-making operations?
Gotbit aimed to provide equal opportunities for all presale investors. Maintaining the $WATER price at a high market cap could have led to a first-come, first-served selling competition among presale investors. Gotbit’s strategy ensured a more orderly market and fair chances for all participants.
How did Gotbit utilize tokens for market-making?
Gotbit used tokens from the Liquidity & Exchanges section of the $WATER project's tokenomics. They sold a total of $6 million worth of tokens at an average market cap of 300M to create a liquid and stable market.
What does that mean?
That means that there is not even a single presale investor who lost money.
What steps were taken to ensure community stability post-presale?
After achieving the presale market cap, Gotbit supported the price and provided liquidity to sellers. This allowed paper-hand investors to exit at breakeven points without causing significant harm to the $WATER community, maintaining price stability.
How can the community verify Gotbit's market-making operations?
Gotbit emphasizes transparency and encourages community members to verify their transactions using tools like Dexscreener. This transparency ensures trust and accountability in their operations.
Also, we provided all the wallets of Market Maker before, so any "On-chain analyst" can write the address completely and tell what it is and not just write "OMG TEAM SELLS TOKEN!".
What were the outcomes of the $WATER TGE?
The $WATER TGE was successful in several ways:
Removing paper-hand investors
Securing 2x to 3x returns for presale investors
Building a robust project treasury
Setting a new standard for market-making in token presales
What is the significance of Gotbit’s market-making strategy?
Gotbit’s innovative approach to market-making during the $WATER TGE has set a new benchmark for future TGEs. It demonstrates that with the right strategy, it is possible to ensure fair exits for investors and maintain market stability.
Our team wants to make a sustainable, long-term project and we treat our tokens as a valuable asset with long-term value. And because of that we are ready to shut any filthy mouth with facts about any claim of "team selling tokens" crap.
Stay hydrated! 🌊
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