The developers got caught hiding coins and there were actually more than double double the supply advertised.
Be very careful with that project.
2/6) As questions & critiques started to pile up over the following weeks,
The official moderators kept insisting that there was no extra circulating supply.
Certain people grew more suspicious especially as Solana failed to update their Binance info & Coinmarketcap profile.
— Justin Bons (@Justin_Bons) November 5, 2021
4/6) They then promised to get these coins back and burn them within 30 days.
On numerous occasions in the following weeks did the Solana team guarantee that they would not release any new coins into the market without first announcing it beforehand.
— Justin Bons (@Justin_Bons) November 5, 2021
6/6) The total circulating supply was now 16M, double the supply promised in April!
After this they just moved on,
Not even publishing this release on any of their official announcement channels.
This is just one example of a pattern of behavior exposing SOL's bad character.
— Justin Bons (@Justin_Bons) November 5, 2021
h/t Johnny Balls