Former Serbian President joins, will AB become the next ZKJ under Binance Alpha?

Author: Wenser, Odaily Daily Report

The turmoil surrounding Binance Alpha continues, and the market focus has shifted to "Which Alpha token will play out a similar flash crash scenario as ZKJ and KOGE?"

Many people speculate that placing the former Prime Minister of Ireland and the former President of Serbia on the official website's homepage AB may be the next project to suffer huge losses. Why has a charity project created by an NGO registered in Ireland, which focuses on 'technology for good', transformed into a token that ranks among the top in trading volume on Binance Alpha? How has this project, which officially launched on April 12 of this year, managed to become a listed project on Binance Alpha in just two months?

Odaily will provide a brief introduction to the AB DAO project in this article for the readers' reference.

Binance Alpha The most abstract episode: Former Serbian president becomes community auditor, with a token FDV of 1.5 billion USD.

On June 7th, Binance Alpha announced its latest project launch for the AB token. Users with a Binance Alpha score of 225 or higher can claim an airdrop of 9,882 AB tokens. At that time, the price of the AB token was around $0.01, and after the news of its launch on Binance Alpha was released, it experienced a slight decline; the contract for this token was launched on June 4th at approximately 1:46 PM.

And 10 days later, the AB token has jumped to the forefront of trading volume on Binance Alpha —

According to the Dune data panel created by @pandajackson, on June 15th, Binance Alpha's trading volume fell below the $1 billion mark, reporting $777 million, continuing a decline since June 8th; on the same day, ZKJ trading volume was $417 million, KOGE trading volume was $91.72 million, and AB trading volume was $65.69 million, ranking the top three.

Dune Data Panel

After experiencing the flash crash of ZKJ and KOGE tokens, many people in the market suddenly realized that the FDV of AB tokens was as high as 1.5 billion US dollars, and the corresponding token projects of the same level were old projects such as CAKE, LIDO, S, etc. If this is just "surprising", then the following information about the project may be a little "scary".

Listing the abstract aspects of AB tokens: Most community members are European political figures, with the top holder's share exceeding 97%.

To evaluate a project, its official website often serves as a primary source of information, and the official website of AB DAO not only has a "retro" style, but the information within it is also quite shocking.

AB Community: Led by the President of Serbia, European politicians gather

According to information from the AB DAO official website, the main team members of this project can be described as "a gathering of European political figures", among which:

• Board of Directors: Composed of several former European national leaders, chaired by former Irish Prime Minister Bertie Ahern (who served three terms and facilitated the Belfast Agreement). Other members include: Lawrence Gonzi (former Prime Minister of Malta); Péter Medgyessy (former Prime Minister of Hungary); Danilo Türk (former President of Slovenia); Petar Stoyanov (former President of Bulgaria).
• Advisory Board: Covering five continents, it includes nearly 30 current and former national leaders, heads of international organizations, and policy experts, forming a "Global Public Welfare Strategy Engine." Some advisors include: Joanna Nurse (Senior Expert at the World Health Organization); Maha Ibrahim Mohamed Morsy (wife of former Egyptian Prime Minister Essam Sharaf, leader in social welfare and education); Kateryna Yushchenko (former First Lady of Ukraine, advocate for healthcare and children's welfare); Antonina Stoyanova (former First Lady of Bulgaria, legal expert at the United Nations); Milena Dobronic (wife of former Bolivian President Jorge Quiroga, advocate for social services and education).
• Legal Support: A legal advisory team composed of several renowned law firms ensures operational compliance.
• Other important figures include: Olusegun Obasanjo (former President of Nigeria, former Chairperson of the African Union); Malcolm Byrne (current member of the Irish Parliament, Chair of the Artificial Intelligence Committee); Jorge Quiroga (former President of Bolivia); Viktor Yushchenko (former President of Ukraine).

In addition, the AB team includes senior strategic partner and founder of the World Outstanding Chinese Award, Ma Xingli; Executive Director of Fuchsia Capital and core contributor, Zeng Junhao; as well as the AB public chain community auditor mentioned earlier, Serbian President Boris Tadić. In terms of team composition, AB spans both politics and business, claiming to "hold half of Europe."

AB DAO official website screenshot

More abstract information: Top holder has over 97% position, official Twitter renamed twice, high probability of being a phishing contract

Apart from the abstract information on the official website, the holding structure of the AB token is also very "peculiar," even making one exclaim after reading: Is Binance Alpha now able to launch projects so casually?

According to GMGN information, the FDV of the AB token is $1.5 billion, with a liquidity pool of around $1.5 million, and a 24-hour trading volume reaching $1.4 billion (which differs from the $1 billion reported by Alpha). The top wallet 0x762 controls approximately 97.29% of the tokens, while the second-ranked Binance wallet address holds only 0.71%. According to the Binance Alpha interface, the total supply of tokens is 98.82 billion, with a current circulating supply of 61.78 billion.

In addition, the indicators such as the Pixiu, open source, pool waiver, and lock-in of the AB token contract are all unknown; the official X platform account has also undergone two name changes, namely @ABDAO_Global and @newton_project. What is surprising is that AB DAO is, in a sense, also a "veteran entrepreneur."

GMGN Token Information

This is a project full of槽点, whose main technical selling points look quite impressive:

According to its official website, "AB is a high-performance, modular, heterogeneous blockchain network, with its core token AB enabling cross-chain deployment through AB Connect, embodying the concept of 'AB Anywhere'; Application scenarios: Its blockchain technology is used for stablecoin issuance, payment network infrastructure, and decentralized public welfare, building an open and trustworthy global value infrastructure. Transparency assurance: All fund flows are recorded on the blockchain to ensure public verifiability, enhancing public trust."

It seems quite reminiscent of the ICO frenzy of 2017 and 2018, where a makeshift team would gather and bring in a white face to kick off fundraising, a "retro narrative crypto project," especially since it has added a "charity gimmick."

I have to say that the bizarre situations in the cryptocurrency circle are not insufficient, but rather that too few are widely known.

Summary: Binance Alpha urgently needs restructuring.

At present, Binance Alpha has gradually lost its original intention of "tracking Alpha token projects," and has instead turned into a farcical game of "I pretend to list tokens, you pretend to score points."

Just like abstract projects such as AB can be listed on Alpha, it's no wonder that many founders of crypto projects are embracing Meme coins or turning to the AI startup craze. Of course, as a "score-boosting project," adopting a fast-in-fast-out trading interaction might be a choice, but conversely, if you're not careful and don't run fast enough, you might end up footing the bill for this feast.