- Plasma CEO Paul Faecks has publicly refuted rumors regarding sales of XPL tokens.
- A 3-year lockup for all allocations is confirmed.
- No insider sales have occurred.
Plasma CEO Paul Faecks has publicly addressed rumors on X (Twitter), confirming no insider sales of XPL tokens and a strict 3-year lockup period.
This statement aims to dispel investor fears and stabilize XPL amidst market fluctuations following its recent price drops.
Plasma CEO Paul Faecks has publicly refuted rumors regarding sales of XPL tokens, confirming a 3-year lockup for all allocations. His statement directly addressed allegations and reiterated the absence of insider sales.
During a formal announcement on X (Twitter), Paul outlined that despite price fluctuations, no team or investor tokens have been sold. The circulating supply stems from the public sale and liquidity allocations. View Tweet
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The XPL token saw a downturn in value following its September release, leading to rumors of insider market manipulation. These speculations were dispelled through the CEO’s confirmation of the lockup mechanics.
With a total of 10 billion tokens, public sale distribution amounted to 10%, secured by lockup protocols. On-chain data supports Faecks’ claims of no insider activities affecting market performance.
The XPL price decrease sparked initial uncertainty; however, transparency has helped stabilize the sentiment. Historical cases like Blast and Blur demonstrate similar recovery patterns post-rumor assessments.
Plasma’s operational stability continues, and market trends suggest gradual recovery. The 3-year lockup remains verified, alleviating concerns over potential financial mismanagement or fraudulent actions impacting the industry’s broader context.
“All investor and team XPL is locked… circulating supply has only come from the public sale and liquidity allocations.” — Paul Faecks, Co-founder & CEO, Plasma source
