They Acquired Up to 86% of the Supply in Nine Memecoins: Early-Second Advantage Revealed!
The Block examined nine memecoin launches on Robinhood Chain and found that token creators and wallets exempted from the buy fee acquired 82% to 86% of the supply at launch. The findings reveal the advantage granted to certain addresses in early buys.
The new investigation follows [Wazz’s research linking 53 altcoin launches to the same operation](https://koinbulteni.com/53-altcoin-lansmaninin-arkasinda-ayni-ekip-mi-var-18-milyon-dolarlik-para-izi-288033.html). The Block matched 10 Pons V2 launches on-chain and identified the same launch pattern in nine of them, starting in late August. Wazz’s claim that a total of $18.43 million was withdrawn was not independently recalculated in this investigation.
The fee designed to deter bots did not apply to certain wallets
Token launch platform Pons V2 charges a buy fee of up to 99% during the first seconds of a launch to make it harder for bots to scoop up the initial buys. The fee drops to zero in about five seconds, and up to 32 addresses designated by the token creator can be exempted. The tax mentioned here refers to the platform’s transaction fee, not a government tax.
In the nine launches examined, creators granted exemptions to 15 to 25 wallets. One to three blocks later, a single transaction made a bulk purchase on behalf of those wallets. The transaction used up the tokens in the initial sale mechanism, triggering the transition to a Uniswap v4 pool. By the end of the launch, the token creator’s address and the exempt wallets held a combined 82% to 86% of the supply.
How did one token’s funds finance another?
The Block also traced the flow of funds between DRAFT and DEED. On September 14, 98 wallets holding DRAFT sent a total of about 180 ETH to a shared address. A wallet that received some of these funds distributed about 16 ETH to 50 addresses on September 21. The recipients included the address that created DEED, the wallet that paid for the launch purchase, and 24 wallets that received exemptions.
DEED launched about 40 minutes later. After the launch purchase, the creator and exempt wallets held 86% of the supply, while sales from addresses that received funds from the funding wallet examined began one second after the launch.
The bulk purchases in all nine launches went through the same contract. However, Wazz says it is a commercial bulk-transaction tool also used by independent users, so using the same tool alone does not show that they belong to the same team. The stronger evidence for the investigation’s claim of a shared operation is the direct transfer of funds between launches. The Block reported that it had requested comment from Pons and Robinhood.