Kaito Hasn’t Sold Any Tokens Since Ending Ties with the Market Maker
Kaito, an AI social media tokenization project, claimed today that it hasn’t sold any tokens since February. It terminated its agreement with Web3Port, a market maker, over unspecified disputes.
Nonetheless, KAITO has staged a remarkable comeback in the past month, climbing more than 150% in 30 days. Exchange listings and token staking may help build momentum, but the core product still has issues.
KAITO Token Controversy and Market Maker DisputeKaito made headlines with its prominent airdrop in February, but things have been very rocky since. The airdrop’s tokenomics attracted harsh criticism from the community, and immense selling pressure quickly blunted its momentum.
Today, the firm claimed that it hasn’t actually sold any KAITO tokens since the controversial events in February:
On February 17, Kaito entered into a market-making agreement with Web3Port and voluntarily terminated the deal on February 27.
The agreement was one of several market-making agreements Kaito entered into around the February 20 TGE to support initial trading price stability.…
