Hunter Biden has published an independent audit report on the launch of the LAPTOP token, saying the team did not cash out after trading began. He said the founder allocation remains in a single address and has not moved since launch, while his own tokens are locked for six months and then scheduled to unlock over two years. The report says Market Maker 1 had $500,000 in starting capital but added only about $5,200 to the pool, which opened with fewer than 30,000 tokens, or roughly 0.003% of supply. LAPTOP then jumped from $0.05 to about $317 in two minutes before falling 98% within an hour. According to the report, Market Maker 1 removed liquidity 84 seconds after the price peak, taking the pool’s cash available for redemptions from $16,157 to zero. The report also says Market Maker 1 made about $686,000 on its DEX position, while DEX trades tied to Market Maker 2 generated more than $2.1 million in net profit. Biden said he would take responsibility for the failed launch and argued that the market maker involved should buy back and burn tokens. He also said most unclaimed tokens from the first airdrop, equal to 10% of total supply, will be burned next week.
Hunter Biden has released an independent audit report on the launch of the LAPTOP token and said the team did not cash out.
He said the founder token allocation is held in a single address and has not moved since launch. He also said his own tokens are locked for six months and will then unlock over a two-year period.
Liquidity and price moves after launch
The report says Market Maker 1 had $500,000 in starting capital but contributed only about $5,200 to the pool. The pool opened with fewer than 30,000 tokens, equal to about 0.003% of total supply.
According to the report, LAPTOP rose from $0.05 to about $317 in two minutes, a gain of more than 6,000x, and then fell 98% within one hour. Eighty-four seconds after the price peak, Market Maker 1 removed liquidity, and the cash available in the pool for redemptions dropped from $16,157 to zero.
Market maker profits and next steps
The report says Market Maker 1 made about $686,000 on its DEX position, while DEX trading tied to Market Maker 2 produced more than $2.1 million in net profit.
Hunter Biden said he would take responsibility for the failed launch and said the market maker that mishandled the launch should buy back and burn tokens.
He also said that next week he will burn most of the unclaimed tokens from the first airdrop. That airdrop accounted for 10% of total supply, and only a small portion was claimed on Substack.
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