Movement's behind-the-scenes advisor Sam爆料: Large amounts of $MOVE dumped by internally designated wallets
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Movement's behind-the-scenes advisor Sam爆料: Large amounts of $MOVE dumped by internally designated wallets
"To date, I have not received any compensation, and MVMT clearly has no intention of honoring the agreement to pay me the token rewards I am owed."
Navigating Web3 tides with focused insightsAuthor: Sam Thapaliya
Compiled by: TechFlow
Recently, Coindesk published an article describing my early involvement with the Movement project. This tweet thread is posted to clarify the facts.
Prior to Movement's founding, I met Cooper in person at Vanderbilt University and proposed incubating a Move-based project, which ultimately led to the creation of Satay. Satay is a yield aggregator that I funded and helped launch.
When Cooper shifted focus to establish MVMT Labs (before Rushi joined the team), he relied on my advice and support across fundraising, token economics, and emotional backing. I worked closely with Cooper to help kickstart the Movement project.
When Rushi joined Movement and took charge of the technical team, the project's vision began to truly take shape. I gradually stepped back from my role as Cooper’s close advisor, focusing primarily on go-to-market (GTM) efforts. This resulted in the Memorandum of Understanding (MOU) released by @vannacharma, negotiated and signed by Cooper. As the project approached its Token Generation Event (TGE), I collaborated closely with Cooper again, advising him particularly on the upcoming airdrop proposal.
Cooper commissioned me to find a data science team to audit the airdrop dataset based on testnet usage, as the Movement team realized their dependent dataset couldn't even accurately reflect actual testnet activity.
Due to numerous issues with the dataset, I advised Cooper to evenly distribute rewards among all airdrop participants. However, during this period, Cooper insisted on allocating the highest proportion of tokens to a specific group of 75,000 wallets.
You can locate these wallets at https://move-token-tracker.vercel.app and observe their distribution. These wallets were nearly the only ones that successfully claimed and bundled sales of over 60 million $MOVE during the Move token airdrop on December 9. The heatmap below shows how these wallets were bundled and rapidly sold off immediately after claiming:
During the claiming process, when we realized problems with these 75,000 wallets, I again suggested equal reward distribution to mitigate the impact of Sybil attackers bundling and dumping. However, Cooper chose to increase the claiming fee, which resulted in almost no users outside these 75,000 wallets being able to claim their airdrops.
After the airdrop had already started, Cooper adjusted the claiming fee, but he did not correspondingly raise the fee for these 75,000 "core-galxe" wallets to control the impact of Sybil behavior.
When users found they couldn't claim due to fees exceeding airdrop value, most opted to delay and wait to claim on a fee-free L2.
The problem was that the L2 failed to launch within the promised 30 days, leaving many users stranded.
The prevailing narrative is false. Nearly three years ago, Cooper sought my help, and I invested immense time and effort to help Cooper, Rushi, and the team make MVMT successful. In return, I have faced public attacks, lost significant opportunities, and suffered damage to social capital.
Over the past three years, I dedicated substantial time and energy to help MVMT get off the ground. To date, I have received no compensation, and MVMT clearly has no intention of honoring the agreement to provide me with my rightful token allocation.
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