Former Bitcoin Core developer, Jeff garzik’s, during the ICO project Metronome had sold almost half of the available tokens only to three investors.
Data from blockchain Ethereum confirmed holding a giant transaction that caused the outrage of potential investors who failed to buy tokens.
Metronome was first announced Bloq, garzik’s development of the blockchain, in October 2017, when the cryptocurrency market was in the early stages of a parabolic rally in the fourth quarter. Metronome (MET), according to supporters, was to become the first cryptocurrency focused on “institutional class.”
The developers decided to limit the emission of 10 million tokens Metronome, of which 8 million were available during the ICO. The rest were kept company Bloq. The sale was carried out by holding the “downward price” auction in which the price per token is reduced with time.
However, complaints in social networks began to appear even before the end of the sale (June 25):
“In the last minutes there was a very large whales,” commented one Reddit user, showing three transactions, about 3.3 million tokens. One of the “whales” has acquired almost 2 million tokens per transaction.”
While garzik’s Blog and have to comment on ICO, criticism is amplified more and more, focusing on the discontent of garzik’s structure “vast majority” altcoins, of which he himself said a few years ago.
ICO often come under fire because of discrepancies in the distribution of tokens and bad sales management. The developers of the project Civic in July of last year even distributed their tokens through a randomized queue, trying to avoid the “whales”.