I propose to remove BOLT from Season 1 of Lightning Rewards programme and be disqualified from any future rounds.
The ZWAP rewards allocated to BOLT should be redistributed to the ZWAP LP pool instead.
There is overwhelming evidence that the BOLT team has been arbitrage trading ERC-20 tokens to ZRC-2 tokens. The way they are doing this is by minting new ZRC-2 BOLT and buying ERC-20 BOLT at 1/3 the cost.
The freshly minted ZRC-2 BOLT is then being sold on the market on ZilSwap, and the proceeds (in ZIL) is then transferred to what looks like a Binance deposit address.
Evidence listed below with titles -
1 Million ZRC–2 Bolt Minted
Bolt team approves token sale
The selling starts
Zilliqa transferred to unknown address
Album of photos from Co-Founder
Allowing arbitrage trading in the hands of teams with no set supply on selected platforms is a dangerous move, and this could easily happen again as BOLT is currently listed on ERC-20, ZRC-2, and BEP2 with no clear supply cap across all tokens generated on all 3 networks.
Therefore, I propose to remove BOLT from the Season 1 of the Lightning Rewards and from future rounds for creating tokens from thin air and selling on the community for their own gain.
By voting for “For” your voting for this proposal
By voting “Against” your voting against this proposal