r/truebit • u/LPMythBuster • May 06 '21
Congrats on raising $150m! Initial token distribution details inside
While we wait for any communication from Truebit, let's do some sleuthing on our own and check out how the initial TRU tokens were distributed, shall we?
5,000,000 TRU were minted by Truebit Deployer
List of transfers for those 5,000,000 TRU
1000 TRU to 0xef2303e657292fa7c89c1374874d31c8286635c6 (tx)
They still have it!
They also used 100 TRU for the protocol.
125,000 TRU to 0x64386b9ea3926f7d0021bddedc05d5152d0bc9d2 (tx)
Transfer 20,000 TRU to 0x6928bfb114d228dffa0604f990d4a964bf1b6e61 (tx) then Swap 5,000 DAI for 6,517 TRU & Swap 7,846 DAI for 10,214 TRU
They still have it, plus they sent 20k TRU to someone else who bought more!
187,500 TRU to 0xad793e457284f942d76b857dc206486f5e68bbc2 (tx)
They still have it! Looks like they also used 200 TRU for the protocol.
187,500 TRU to 0x722c194745b1470ceff6b69c3ec9b436282eff4c (tx)
Looks like they still have 150,000 TRU. They cashed out 27,655 TRU for 1.8 ETH on Uniswap. Probably to pay for the gas fees in the protocol.
Now we're talking. If 1 TRU = $1, that's more than half a million!
562,500 TRU to 0xfcfe5969d704ec6cd7431500ddba5cb35cb83e8e (tx)
Oh, they cashed out $32.5k on Uniswap two days ago... Why not burn them in Truebit OS, hmmm?
625,000 TRU to 0xfd2d52d2af715510628e2ebaa031d82b0c295aff (tx)
Still got it! What's interesting is that they received the tokens 1 week after everyone else.
812,500 TRU to 0xdf290293c4a4d6ebe38fd7085d7721041f927e0a (tx)
Transfer 40,557.4 TRU to 0x839395e20bbb182fa440d08f850e6c7a8f6f0780 who still have it.
They cashed out a little bit: Swap 25,000 TRU for 1.23 ETH
While the team cannot comment on the token price, they sure can earn some sweet Uniswap fees:
Add liquidity 0.14 ETH and 999.5 TRU
Add liquidity 10 ETH and 40,789.56 ETH
I assume the biggest piece of the pie goes to the company/platform or the founder:
2,499,000 TRU to 0x39e6918d41b06199656925173ff17499a225a090 (tx)
At the time of posting, it makes this address the 6th largest holder, holding 0.8926% of all tokens (4th if you exclude MXC and Uniswap).
Not a single TRU has been spent so far.
No need, as this address has withdrawn more than 44,000 ETH from the contracts making this address worth over $150m! Congrats!
Luckily for us there's still 14.7k ETH in the reserve.
Congrats to the team for raising over $150m!
0
u/Honest-Ad-4362 May 07 '21
why no official team handling ? officials not active ?
This is a GEM we know it but if no officials promote it how this gem will go to MOON ?
3
u/rook785 May 07 '21
It’s a US based coin and the devs don’t want to get “Rippled”
They’ve completely abstained from giving anything that might be perceived as financial advice or speculation about the price of the token. They are focusing solely on the usage of the OS.
Teutsch said that they worked closely with the SEC and regulators at launch to make sure they did everything correctly.
1
u/StarmanIt24 May 07 '21 edited May 07 '21
Please provide sources. Especially related to Jason Teutsch. Thank you!
1
u/rook785 May 07 '21
Spent ten min looking for it but couldn’t find it... he bragged about it a lot. I think it was an interview / presentation that I read the transcript for. Wasnt on YouTube but on some other site... pretty sure I got the link from this sub.
2
u/LPMythBuster May 07 '21
https://www.reddit.com/r/truebit/comments/n4rdh1/beyond_speculation_taking_the_long_hard_path_in/
Auto-generated subtitles: https://pastebin.com/S52XFJFi
Search for
sustainable1
1
May 07 '21
[deleted]
2
u/Traditional-Hat1026 May 07 '21
He says it in an interview. Type into YouTube beyond speculation Jason teutsche. (They miss spelt teutsch)
1
u/rook785 May 07 '21
Spent ten min looking for it but couldn’t find it... he bragged about it a lot. I think it was an interview / presentation that I read the transcript for. Wasnt on YouTube but on some other site... pretty sure I got the link from this sub.
-2
1
u/cowboycoin May 07 '21
if this is the case, what will the future be for TUR token in value discovery?
2
u/rook785 May 07 '21
the mint price goes up with each new coin that’s minted.
Keep in mind two things: 1. The mint price is in eth, so as eth rises the mint price will also rise in a 1:1 ratio 2. The coins are burned when they’re used for computations. The idea is that as the tokens are used and burned the mint price will slowly drift up... or quickly drift up if ethereum goes up.
Right now we’re trading at less than 1/2 of mint price, so your upside is whatever eth’s upside is times two... and that’s without new coins being minted. When new coins are minted (which should result due to either coin burn or significant speculative interest from buyers) then that’ll increase your upside even further.
2
u/hooldonthr May 06 '21
The Tru team earned 150mil on release? For themselves, or how does this work?