Synthetix founder: Market makers manipulate the market for profit through low-float models and option structures

On March 26, Synthetix and Infinex founder Kain Warwick posted on the social platform, "In the ICO era, the project party could hardly complete the financing without reaching an agreement with multiple" market makers ", and the monthly cost was as high as 50,000 to 300,000 US dollars. Today, these market making agreements have evolved into option structures, and some market makers manipulate the market through the low float model, short at the highest point of TGE, cover at the bottom, and then pull the market again and then call-over. SBF's low liquidity model further encourages this arbitrage strategy. Recently, the new gameplay is that the project party sells tokens to the liquidity fund at a discount price before TGE, and directs market makers to sell directly after low liquidity. DWF Labs used a similar method to operate Synthetix, first buying coins from the treasury and then selling them.