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Ok, Wormhole is down 50% since it's launch (VC's dumped on the community?). VC's got in with $225M at an undisclosed valuation and are part of the Wormhole foundation.

Currently Wormhole has a $6.8B valuation and it came out for purchase to community members at a valuation of ~$12B ...

Based on the tokenomics, only 3 pools of tokens are unlocked, the community which are the tokens sold during the listing, so can't really be them selling more to push the price below the listing price since they had to buy in the first place.

  1. Ecosystem and Incubation, could that be where the selling pressure is coming from? If so, then it's mismanagement of funds by the team.

  2. is the selling pressure coming from the foundation token pool? VC's are part of the foundation, I think that's the likely source of selling pressure where the team and VC's are dumping on retail investors... Which in my opinion needs to stop now. After the fisco of EigenLayer, I decided to start investigating projects with large VC backing to see if we are being taken advantage of, and the results appear to be pointing in that direction.

So, the VC's that are under my radar are the following:

  • Coinbase Ventures
  • Multicoin Capital
  • Arrington XRP Capital
  • ParaFi Capital
  • Jump Trading
  • Borderless Capital
  • Dialectic Capital
  • Brevan Howard Digital

EigenLayer's VC:

  • Polychain Capital
  • Blockchain Capital
  • Coinbase Ventures
  • Andreessen Horowitz (a16z)
  • Electric Capital
  • Ethereal Ventures
  • Robot Ventures
  • Hack VC
  • Figment Capital
  • dao5
  • P2P Validator

So, Coinbase Ventures is on both list, but I'm sure the pattern will emerge as I dig deeper into other failed token launch.

It is not clear if all of them needs to be avoided, or only a select few, and maybe there is something else here at play, but I intend on investigating further.

Regardless, I'd recommend extreme caution in being the exit liquidity of VC's & teams with short term thinking. Show Less


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