Premeditated Concealment? Bubblemaps Alleges Edel Engaged in Token Sniping
- Blockchain firm Bubblemaps accuses Edel Finance of sniping 30% of EDEL tokens via 160 linked wallets during its Nov 12 launch, using bot-driven tactics and layered wallet structures to obscure the acquisition. - Edel co-founder James Sherborne denies the claims, stating 60% of tokens were lawfully locked in vesting contracts as disclosed, while criticizing Bubblemaps' analysis as a "Hayden Davis defense" referencing memecoin controversies. - EDEL's market cap has plummeted 62% to $14.9 million amid erodi
Blockchain analytics company
James Sherborne, co-founder of Edel Finance, rejected the accusations, explaining that the team secured 60% of the token supply, which was then locked in vesting contracts as publicly documented. He dismissed Bubblemaps’ findings as a “Hayden Davis defense”,
This dispute has coincided with a significant drop in EDEL’s market value.
This episode highlights the escalating friction between blockchain analytics groups and DeFi protocols.
As the situation develops, Edel Finance’s experience could shape how both regulators and investors evaluate token distribution protocols. While the project’s defense relies on prior disclosures, critics maintain that even “planned” allocations must be communicated transparently to prevent perceptions of favoritism
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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