Founders

1/ I need to address a few things concerning $GRND. 

I've gotten a few questions regarding the trading activity of GRND. While I may not focus on this, traders and investors do, and if I have nothing to hide then I should be able to address those concerns openly. 

So, I will.

2/ @ulexam asked privately about the sudden drops in price and whose wallet this was: 0x70cEB22B65490B884D5B81dF77fAb834764C850C

Last Thursday, in ~5 minutes, this wallet dumped ~3B $GRND to tank the price and hopefully, drain some liquidity from the shallow pool. 

 When I woke up to this, I was pissed.

Never bite the hand, of the one that fingers u... something like that
$DEGEN $CLANKER $TryIt!

I am not UNDRGRND. 

Founder @undrgrnd

Anti-hype since ‘93

3/ I thought I'd trace down the activity, figure out who it was but then what? @ulexam pointed out that it was concerning that this wallet only sells GRND, and never buys. 

https://basescan.org/tokentxns?a=0x70ceb22b65490b884d5b81df77fab834764c850c





3/ I wish I had a better answer than, "I don't know," but I don't know whose wallet this is. 

No one but me has more than 500M tokens in their possession.

3/ I wish I had a better answer than, "I don't know," but I don't know whose wallet this is. 

No one but me has more than 500M tokens in their possession. 

https://basescan.org/token/0xd94393cd7fcceb749cd844e89167d4a2cdc64541#balances 

4/ The first wallet listed is the SAFE wallet holding 50% of the supply with multi-sigs, 3/5 to transact, held with other executive board members. This amount represents a back-up supply to be burned or distributed depending on the needs based on future use cases for GRND. 

But that won't be my decision to make.

5/ The second wallet listed represents the UNDRGRND Wallet I use to send GRND to people for various promotions, will be divided up to use for tipping, airdrops, partnerships, earning, staking, liquidity pools, claims, etc. 

By the end of the year that will be distributed to most of you. 

216B GRND.

6/ The third listed is my personal wallet. I don't do a great job paying myself or taking care of myself for that matter. 

1% seems like a lot to me but based on what I'm giving others it matches. I also have plans to give it away, much later.

I'm open to critique though. 

7/ The next two wallets I believe are the liquidity pools on @uniswap and @aerodrome. These were put together with my own funds of DEGEN earned on this app. 

Everything else is holders of GRND who purchased or are providing liquidity to earn fees on trades. 

8/ So how is this person dumping ~3B GRND? Is it my burner? Or a friend? 

No, and no to the last two. UNDRGRND is my baby and I'm not going to shoot this in the foot for a couple hundred bucks. 

On a personal note, my wife, daughter and my convictions would never allow me to interact with a MAGA token.

9/ This is a dumping wallet. 

This person slowly buys up GRND in small pools to not trigger a spike in price, transfers GRND, and then quickly dumps it to make a profit. 

But they need to put money in to take it out. 

I didn't figure out the $ amount and I have no desire to. 

People fucking suck, that's it.

10/ The other question comes from a friend and advisor @madch0ps.

GRND shows up on Dexscreener as mintable. Typically this is a red flag because it means I can just mint more of GRND whenever I choose. 

But I won't and I can't.

11/ It shows up as mintable because non-dev builders like me need to use no-code solutions like Axelar Network to create tokens. 

It is considered an "interchain" token meaning the token is burned or minted when I transfer it to different chains. 

The supply remains the same and the contract remains the same.

12/ UNDRGRND will always be focused on being multi-chain as will GRND the token. 

For now it exists on BASE for obvious reasons and Optimism (16B) for less obvious reasons that will come to fruition with our partners @pagedao and the liquidity pool of $PAGE/$GRND.

12/ UNDRGRND will always be focused on being multi-chain as will GRND the token. 

For now it exists on BASE for obvious reasons and Optimism (16B) for less obvious reasons that will come to fruition with our partners @pagedao and the liquidity pool of $PAGE/$GRND.

https://pagedao.org/

13/ Hopefully, I've answered some questions and concerns through this. If you have more or I wasn't clear, just ask. I'm right here.

This space is filled with complete shit sometimes. 

We can only go far if we're honest with each other and trust each other.

I intend to continue doing it this way.

2/ @ulexam asked privately about the sudden drops in price and whose wallet this was: 0x70cEB22B65490B884D5B81dF77fAb834764C850C

Last Thursday, in ~5 minutes, this wallet dumped ~3B $GRND to tank the price and hopefully, drain some liquidity from the shallow pool. 

 When I woke up to this, I was pissed. 

Lover of the unloved, autistic artist and possibly filled with ghosts - looking to make friends with humans

Thank you for taking the time to explain this! Tho I've been in web3 since 2021, I've never interacted with tokens like this before at all, and I'm wanting to learn and understand everything xx

| Photographer | Artist |

Owner - /photodegens

https://openplainsstudios.com/

Thank you. People are still getting to know who I am and what I’m about. The best part of this job is that I can be exactly who I am and not worry about playing a role for sales or hype.

Appreciate you sharing! Never had no doubt with your intentions and glad to see you sharing. Let’s build!

Thank you for clearing, Joe! 🖤 
77 $DEGEN

No worries, there's always a few bogies every project.

Thank you for the transparency. In general, I have a lot to learn about this new tech, and things like this are definite learning lessons for me. It's nice to have clarity from your end. 🫡

This is super helpful. Thank you for being transparent about the process. I love what you’re doing. 100 GRND is still 100 GRND at the end of the day 🫡 200 $kat

Your openess and you being transparent about everything is what we appreciate the most about you and which is the reason why we didn't even think about if we wanna collab with you. Cuz it was a clear yes.

1 $Degen

Thanks for taking the time with this Joe. You've done well laying out what's happened ( I had no idea, I'm holding for the long haul)

Sucks they are doing this! But not surprising as the space is full of this crap.

I'm wondering if this same wallet is doing the same thing to other tokens?