「Bai Gan」 Has Had No Income for Three Years, Behind-the-Scenes Advisor of Movement Reveals Shocking News

Original Author: Sam Thapaliya

Original Translation: DeepTech TechFlow

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

Prior to the establishment of Movement, I had met with Cooper offline at Vanderbilt University and proposed to incubate a Move-based project, which eventually led to the creation of Satay. Satay is a yield aggregator for which I provided funding and assisted in its launch. When Cooper transitioned to founding MVMT Labs (before Rushi joined the team), he relied on my advice and support in various aspects ranging from fundraising to tokenomics to emotional support. I closely collaborated with Cooper to drive the initiation of the Movement project.

When Rushi joined Movement and took over the technical team, the project's vision began to truly take shape. I gradually stepped back from my role as Cooper's close advisor, focusing primarily on Go-To-Market (GTM) efforts. This led to the release of a Memorandum of Understanding (MOU) by @vannacharma, negotiated and signed by Cooper. As the project approached the Token Generation Event (TGE), I once again closely collaborated with Cooper, particularly advising him on the upcoming airdrop proposal.

Cooper entrusted me to find a data science team to audit the airdrop dataset based on testnet usage, as the Movement team realized that the dataset they relied on could not accurately reflect the actual testnet usage.

Due to numerous issues with the dataset, I suggested to Cooper to evenly distribute rewards among all airdrop participants. However, during this time, Cooper insisted on having a specific set of 75,000 wallets receive the highest proportional token allocation per wallet.

You can find these wallets at https://move-token-tracker.vercel.app and observe their distribution. These wallets are nearly the sole holders who successfully claimed and bundled over 60 million $MOVE during the Move token airdrop on December 9th. The heatmap below shows how these wallets were bundled and quickly sold off after claiming the airdrop:

During the claiming process, when we realized the issue with these 75,000 wallets, I once again suggested spreading out the rewards to mitigate the impact of Sybil attacks (fake accounts) bundling and dumping. However, Cooper chose to increase the claiming fee, resulting in almost no users other than these 75,000 wallets being able to claim the airdrop reward.

After the airdrop had already started, Cooper adjusted the claiming fee but did not correspondingly increase the claiming fee for these 75,000 "core-galxe" wallets to control the impact of Sybil behavior. When users were unable to claim the airdrop because the claiming fee was higher than the airdrop amount, most users chose to wait and defer claiming the airdrop on the fee-less L2.

The issue was that L2 did not go live as planned within 30 days, leaving many users in a predicament. The current narrative being circulated is erroneous. Nearly three years ago, Cooper sought my help, and I put in a significant amount of effort and time to help Cooper, Rushi, and the team make MVMT successful. In return, I was subjected to public attacks, lost many opportunities and social capital.

Over the past three years, I have dedicated a considerable amount of time and effort to help MVMT get off the ground. To date, I have not received any compensation, and MVMT apparently has no intention of honoring the agreement by paying me the deserved token rewards.

Original Post Link