Insider trading, concentrated chips, the popularity and controversy of Kanye Coin YZYZ coexist.

Today, the renowned rapper and internet celebrity Kanye West announced the launch of YZY MONEY and the Token YZY on social media.

After Kayne West’s official Twitter account announced the contract address for $YZY, $YZY briefly surpassed a market value of 3 billion dollars within half an hour, and then began to decline, currently with a market value of approximately 1.7 billion dollars.

Token Economics

According to the information from the YZY MONEY official website launched by Kanye West, the YZY Token economics are as follows:

· Public Offering: 20%

· Liquidity Pool: 10%

· Yeezy Investments LLC (Issuer): 30% (locked for 3 months, released linearly over 24 months)

· Team: 20% (locked for 6 months, released linearly over 24 months)

· Ecological Development Fund: 20% (locked for 12 months, released linearly over 24 months)

Ye Pay and YZY Card

In addition, launched alongside the YZY Token are “Ye Pay” and “YZY Card”. According to information on the YZY MONEY official website, “Ye Pay” is a cryptocurrency payment processor that allows merchants to accept credit card and cryptocurrency payments, with fees lower than the 3.5% typically charged by traditional platforms. Merchants can seamlessly integrate Ye Pay into their websites or applications, providing consumers with a simple and fast checkout experience.

Currently, yeezy.com supports cryptocurrency payments, and the option to pay directly with $YZY is also displayed as “COMING SOON.”

The “YZY Card” is a debit card used to spend YZY and USDC at millions of merchants worldwide. It is a non-custodial card that allows the direct use of cryptocurrency without the need to manually convert to fiat currency or rely on intermediaries. Currently, you can submit your email address on the YZY MONEY website to join the waiting list.

Insider doubts and chip concentration risks

Lookonchain posted on social media that although Kanye West officially announced the launch of YZY, currently only YZY has been added to the liquidity pool, with no USDC. Developers can sell YZY by adding/removing liquidity, similar to LIBRA.

Multiple insider wallets prepared funds in advance and immediately bought YZY after the announcement was released. Insider wallet 6MNWV8 knew the contract address beforehand and even tried to purchase it yesterday.

6MNWV8 Today spent 450,611 USDC to purchase 1.29 million YZY at a price of 0.35 dollars, and sold 1.04 million YZY for 1.39 million dollars, leaving 249,907 YZY (approximately 600,000 dollars), with profits exceeding 1.5 million dollars.

Two days ago, after Kanye West’s official Twitter account followed @YZY_MNY, the market began to speculate on Kanye West’s token issuance actions. A token deployed in February of this year, $YzY, saw its market value rise from over 5 million USD to nearly 15 million USD on August 19, and there was a large single purchase of 4207.9 SOL (approximately 767,000 USD).

However, according to the information on the YZY Money official website, in order to prevent sniping, they deployed 25 YZY contract addresses and randomly selected one as the final announcement address. They claim that “this action reduces the probability of selecting the correct CA to 1/25, thereby preventing attacks by snipers and returning power to real traders.”

Coinbase executive Conor Grogan posted on social media, “I estimate that at least 94% of YZY tokens are held by insiders; 87% of the tokens are held by a single multi-signature wallet (which has now been distributed to multiple wallets); over 3% of the tokens were purchased at market open by multiple (pre-prepared) wallets through a single large transaction; over 7% of the tokens are in the liquidity pool.”