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Media: Polkadot and Dfinity tokens are sold in the OTC markets with a huge discount

The major holders of the tokens of the Polkadot and Dfinity projects sell significant amounts of these assets in over-the-counter markets. It is reported by The Block, citing cryptocurrency funds and investors who were offered to buy coins. So, to be precise, the original investors put up for sale SAFT-contracts, giving ownership of the not yet issued tokens. The publication claims that at the moment […]

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The major holders of the tokens of the Polkadot and Dfinity projects sell significant amounts of these assets in over-the-counter markets. It is reported by The Block , citing cryptocurrency funds and investors who were offered to buy coins.

So, to be precise, the original investors put up for sale SAFT-contracts , giving ownership of the not yet issued tokens.

The publication claims that at the moment four sellers offer from 15 to 60 thousand DOT. It is noteworthy that in one of such transactions Polkadot tokens were sold at a discount of 50% of their original value of $ 120.

A similar situation is with the Dfinity project tokens, SAFT contracts for which are also allegedly put up for sale on OTC platforms . This also applies to the acclaimed FileCoin, although the details have not yet been clarified.

Note that not only investors dissatisfied with the development of projects, but also those who purchased tokens on presales can sell their assets. The latter may seek to make a profit even before the public launches of the protocols.

However, such transactions involve extremely high risks, since sellers may violate the condition of most SAFT contracts to ban resale. Moreover, the buyer faces significant risks, since private keys and tokens will be distributed only in the future, and an unscrupulous seller may never hand over the key or save it for theft in the future.

At the same time, the billion-dollar capitalization of networks based on the protocols mentioned above now seems rather dubious, given the size of discounts on OTC markets.

Recall that the official launch of the Polkadot network took place in 2017. At the same time, a campaign to sell DOT tokens started, following which the project attracted $ 145 million. As media reported earlier this year, Polkadot intended to re-enter the ICO in an attempt to raise $ 60 million.

In early 2018, the Dfinity project, which is developing a decentralized "Internet computer", raised $ 61 million from venture capital firms Andreessen Horowitz and Polychain Capital. Subsequently, in the course of a closed tokensail team managed to raise another $ 102 million from accredited investors. It is expected that the launch of the test network will take place in the second quarter.

Back in 2017, the Filecoin project raised $ 257 million as part of a “regulated tokensale”, but so far it has not launched the main network.

Earlier, BitMEX CEO Arthur Hayes announced that the price of Telegram, Filecoin, DFINITY, Polkadot, tZero, Basis, Orchid Protocol, Hashgraph, Rootstock, Algorand, Cosmos and Oasis Labs tokens would collapse after the start of trading in secondary markets, and investors of the projects would suffer significant losses .

This forecast has already been partially justified in the case of tZero and Cosmos, and the Basis project has completely ceased to exist due to tight regulation in the USA.

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