Delta says the 16500000 DELTA allocated in the early OTC have been sold

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Delta Team Statement: 2.6% of Tokens Transferred in Early OTC Deal, of Which 16500000 Have Been Sold

BlockBeats News, November 9, DeFi liquidity management protocol Delta issued a statement clarifying recent controversies. On August 24, during the project's early launch phase, the Pools platform's TVL was approximately 50000 USD, and DELTA's market capitalization was approximately 3000000 USD. The team made an over-the-counter transfer of 2.6% of the supply in exchange for operational funding and marketing, corresponding to 26000000 DELTA, distributed from the creator wallet to five receiving addresses. Of these, 16500000 tokens, approximately 1.65% of the total supply, have been sold, while another 9500000 tokens, approximately 0.95%, remain in two receiving wallets.

The team acknowledged that the transaction could have been handled better, that restrictions such as vesting periods and lock-ups could have been imposed, and that they placed too much trust in the counterparty. The counterparty was free to dispose of and sell its allocation; the team imposed no restrictions and could not control subsequent sales, but had expected communication before any major sell-off. Before the initial announcement, the team had contacted the counterparty and attempted to reach a resolution, and after failing to reach an agreement, published on-chain evidence.

On November 7, an address labeled Frogmanhaha Funding Wallet transferred 0.01 ETH to each of the aforementioned five receiving wallets within approximately 3 minutes, and three of those wallets collectively transferred approximately 101500 USDG back to that funding wallet. Delta stated that the OTC deal supported early operations and that the agreed support had been delivered, but the subsequent sell-off was not communicated in advance. The team said it takes responsibility for the decisions made.

Original link: https://m.theblockbeats.info/flash/376226

Key points

August 24, during the early launch phase of the Delta project, the TVL of the Pools platform was approximately 50000 USD, and the market capitalization of DELTA was approximately 3000000 USD.
The team conducted an over-the-counter transfer of 2.6% of the supply, corresponding to 26000000 DELTA, distributed to five receiving addresses.
Among them, 16500000 tokens, accounting for approximately 1.65% of the total supply, have been sold; 9500000 tokens, accounting for approximately 0.95% of the total supply, remain in the two receiving wallets.
The team stated that the transaction has no restrictions such as vesting periods or lock-ups.
On November 7, the address labeled Frogmanhaha Funding Wallet transferred 0.01 ETH to each of five receiving wallets, of which three wallets returned a total of approximately 101500 USDG.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

The Delta team explained in a statement that early in the project, 26000000 DELTA tokens were allocated as over-the-counter trading shares in exchange for operating funds and marketing. The team said that 16500000 of them have already been sold, while the remaining 9500000 are still in two wallets, and acknowledged that no lock-up or vesting restrictions were set at the time.

Why it matters to readers

No lock-up restriction has been set, and 9500000 tokens still remain in the receiving wallet; the market may focus on whether these tokens will continue to be transferred or sold.

Over-the-counter trading is a token transaction conducted directly between the project and a specific counterparty; lockups or vesting periods are typically used to restrict the immediate circulation of tokens.

Risks and unknowns

The relevant addresses and transaction details were not verified through independent channels in this evidence.
Whether the remaining 9500000 DELTA tokens will be transferred or sold is not stated in the evidence.
It is not specified in the evidence whether the team and the cooperating party have reached a subsequent solution.

Delta says the 16500000 DELTA allocated in the early OTC have been sold

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