Movement behind-the-scenes consultant Sam revealed: a large number of $MOVEs were sold by designated internal wallets

Author: Sam Thapaliya

Source: Sam Thapaliya X Account

Compiled by: TechFlow

Recently, Coindesk published an article describing my early experiences with the Movement project. The purpose of this tweet is to clarify the facts.

Before Movement was founded, I met Cooper offline at Vanderbilt and proposed to incubate a Move-based project, which ultimately led to the birth of Satay. Satay is a revenue aggregator that I funded and helped it get started.

When Cooper turned to founding MVMT Labs (When Rushi wasn't on the team yet), he relied on my advice and help in everything from fundraising to token economics to emotional support. I worked closely with Cooper to promote the launch of the Movement project.

When Rushi joined Movement and took charge of the technical team, the vision for the project began to take shape. I gradually stepped down as an intimate Cooper consultant, focusing mainly on marketing (GTM) work. This led to a Memorandum of Understanding (MOU) issued by @vannacharma, which was negotiated and signed by Cooper. As the project approaches the Token Generation Event (TGE), I once again worked closely with Cooper, especially to advise him on the upcoming airdrop proposal.

Cooper commissioned me to find a data science team to audit airdrop datasets based on testnet usage, because the Movement team realized that the datasets they depend on could not even accurately reflect the actual use of the testnet.

Due to the many problems with the dataset, I suggest to Cooper that all airdrop participants will be spread out equally. During this period, however, Cooper insisted on getting a specific set of 75,000 wallets to get the highest proportion of token allocations per wallet.

You can find these wallets at https://move-token-tracker.vercel.app and observe their distribution. These wallets are nearly the only ones that successfully collected and bundled $ 60 million for sale, which happened during the December 9th Move token airdrop. From the heat map below, you can see how these wallets are tied up and sold quickly after receiving the airdrop:

During the collection process, when we realized the problem of these 75,000 wallets, I once again suggested spreading the rewards to reduce the impact of Sybil attacks (fake accounts) bundling and selling. However, Cooper chose to increase the collection fee, which resulted in few users who were able to receive airdrop rewards except for these 75,000 wallets.

After the airdrop had begun, Cooper adjusted the collection fee, but he did not increase the collection fee for the 75,000 "core-galxe" wallets accordingly to control the impact of Sybil's behavior.

When users are unable to claim airdrops, the collection fee is higher than the airdrop amount, which causes most users to choose to postpone and wait to claim airdrops on the fee-free L2.

The problem is that L2 has not been launched within 30 days as planned, causing many users to fall into trouble.

The current circulating statement is wrong. Cooper asked me for help nearly three years ago, and I put a lot of energy and time into helping Cooper, Rushi and the team make MVMT successful. In return, I was publicly attacked and lost many opportunities and social capital.

Over the past three years, I have invested a lot of time and effort to help MVMT get started. As of now, I have not received any compensation and MVMT has obviously no intention of fulfilling the agreement and paying me the token rewards they deserve.