Solana meme project EPIK is back in focus after creator Mando said nearly 60% of the token’s 1 billion total supply has been taken out of circulation. In a post on July 27, Mando said he has personally bought back 356 million EPIK and burned 154 million of those tokens, while another 81 million tokens from the liquidity pool have also been burned. Addressing criticism from community members over his large holdings, he said he did not receive 50% of the supply through an airdrop. Instead, he said he spent a seven-figure sum over the past three years to keep buying back tokens and support the project, leaving him with control of more than half of the supply. Mando also said he is considering distributing part of his holdings through phased airdrops to long-time community supporters and contributors. According to GMGN market data, EPIK’s market capitalization briefly climbed to about $27 million, with one-hour trading volume reaching roughly $6.5 million, before falling back to around $16 million.
Solana meme project EPIK drew market attention on July 27 after its creator, Mando, said nearly 60% of the token’s 1 billion total supply is now out of circulation.
Mando said he has personally bought back 356 million EPIK in total and burned 154 million of those tokens. He added that another 81 million tokens tied to the liquidity pool, or LP, have also been burned.
Responding to community criticism over his large token holdings, Mando said he did not receive 50% of the supply through an airdrop. He said he spent a seven-figure amount over the past three years on buybacks and project support, and now holds and controls more than 50% of the total supply.
He also said he originally created EPIK during a livestream and has continued to put money into maintaining the project over the long term. Mando said his approach differs from that of some KOLs, creators, or celebrities who sell after receiving tokens.
Mando said he is now considering phased airdrops of part of his holdings to long-term community supporters and contributors as a way to reward early participants.
According to GMGN market data, EPIK’s market capitalization briefly surged to about $27 million, while one-hour trading volume rose to around $6.5 million. The market cap later fell back to roughly $16 million.
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