NO PAINS, NO GAINS, LaoTouCoin is finally online!
On February 11, the official Meme project PAIN posted on social media that 80% of the refund will be issued to eligible wallets before PAIN tokens start trading. PAIN will also be airdropped to eligible wallets. The project will publish the official contract and token economic model on X and the Internet. There will be no claim link. In the early hours of this morning, 80% of the 185,976 SOLs raised by PAIN have been successfully refunded, and all funds sent after block 318346069 (the end of PAINSALES) have also been refunded.
According to community members, PAIN refunded 80% before the opening, and currently has a nearly 4-fold return, that is, if you invest 100 SOL, you will get 80 SOL back, and the airdropped coins can still be sold for nearly 80 SOL. But if you dont stay up late, you probably wont get such multiple returns, because the current market value of PAIN has fallen from a high of $2.3 billion to $180 million. However, the hype continues, and as of press time, the market value of PAIN has rebounded to $250 million.
Seeing this kind of candlestick chart actually gives me a bit of PTSD. How is it different from the trend of Argentina’s presidential currency LIBRA?
But there may be some difference between the two. The main reason for PAINs high opening is that there are too many snipers who rushed to buy at the opening and bought quickly before the team injected enough liquidity. The transaction speed is so fast that the liquidity of most market makers has not been fully on the chain, resulting in a short-term imbalance between supply and demand in the market.
In this case, although some preemptive robots successfully placed buy orders, there were not enough sell orders in the market to match. One of the preemptive robots even placed an order to sell tokens at a price of 2.2 billion US dollars, which was bought by other robots, causing the market price to fluctuate extremely for a short period of time. At this time, PAIN pre-sale investors had not yet received the airdrop, and the market had not yet formed an effective liquidity supply.
In this process, some people also suffered losses. According to Lookonchain monitoring, the sniper paid 2,501 SOL (US$430,000) and spent 15,000 SOL (US$2.58 million) to snipe 107,212 PAIN. Then he sold all 107,212 PAIN in exchange for 14,961 SOL (US$2.57 million), with a loss of 2,540 SOL (US$436,000).
As market makers gradually completed the deployment of buy and sell orders and all pre-sale participants received airdrops, the market price gradually returned to normal levels. However, some pre-sale robots suffered losses due to liquidity issues, and the market price also adjusted accordingly.
Token Economics Explained
According to official news, the token share of Harold, the prototype character of PAIN, will be locked for 20 years and will not be unlocked until 2045.
Its token economic model shows that the total supply of PAIN is 10 million, of which 50% is allocated to Harold himself, 20% is used for pre-sale, 15% is used for liquidity, 10% is allocated to the community, and 5% is allocated to partners.
In addition to the 50% PAIN held by Harold himself, which has been locked, the community/partners’ total 15% of tokens have not yet been transferred or sold.
The distribution of PAINs main liquidity pool is as follows: a total of $11.37 million worth of liquidity has been injected (accounting for 82% of the main liquidity pool under 1% handling fee), including 129,000 PAIN and 52,490 SOL, and the unclaimed handling fee income is as high as $344,000. Currently, only the [0.104251 - 0.205086] price range is still in effect, which is converted to US dollars as [17.88 US dollars - 35.2 US dollars], and the rest of the positions have been temporarily invalidated.
But as we all know, meme coins do not mean fairness. According to @ai_ 9684 xtpa monitoring, the address DjTrV...1 a 24 a sold 107,212 PAIN at an average price of $ 23.66. The source of its funds can be traced back to the teams pre-sale associated address, rather than the 20% coin holding address of the airdrop. The tokens were transferred three times before being shipped. In the past 7 hours, tokens worth $ 2.53 million have been sold.
