Victor Ji, co-founder of Manta Network, has publicly criticized crypto market makers, calling them 'leeches' and questioning their approach to liquidity and token distribution.
Why the Outcry Against Crypto Market Makers?
Ji's outburst on X was driven by frustration from constant proposals he receives from market makers and OTC traders. He claims these firms focus on acquiring tokens without regard for their fundamental value or potential, harming projects like Manta Network.
The 'Leech' Accusation: What's the Real Problem?
Ji's leech comparison is strong, pointing to market makers as parasitic entities that ignore project fundamentals, aggressively acquire tokens, and may dump them for profit.
Lessons from Calamari Network and Limiting Token Allocation
Ji shared Manta Network's experience with Calamari Network and suggested limiting token allocation to market makers to 0.2%. This reduces risks and encourages genuine partnerships.
Victor Ji's remarks highlight the need for a rigorous approach to market maker selection and strategies that promote sustainable growth in the crypto ecosystem.
