According to ChainCatcher news and DLnews reports, the blockchain data analysis company Bubblemaps discovered that in the token issuance of EDEL for the non-custodial lending protocol Edel Finance built on EVM on November 12, 60 wallets related to the project party were suspected of purchasing over 30% of the tokens, worth approximately 11 million dollars.
Co-founder James Sherborne did not deny this matter, claiming that it is a planned operation to put 60% of the tokens into the ownership contract, but there are no public records showing that this plan was announced in advance, and the official website's token economics page does not mention this arrangement.
During the transaction process, tokens were transferred to dozens of wallets and entered and exited the Uniswap liquidity pool, a technique often used to obscure transaction tracking. Sherborne did not explain why it was necessary to use a rush purchase method instead of directly transferring to the contract. Edel Finance also did not respond to the request for comment.
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