A theory about the 500 BTC buy wall

I’ve already wondered about the WTF buy wall on Poloniex. In case you haven’t seen it, here it is.

wtf-buywall

WTF, right?

Before I speculated that this may be funded by MaidSafe Inc, but I wasn’t sure why and how.

Now I think it may be part of their agreement with Yuanbao.

Something along the lines of the following:

  • Yuanbao buys X amount of MAID (e.g. at 1100 satoshi)
  • MaidSafe obliges to create a 500BTC buywall for MAID on Poloniex (e.g. at 1000 satoshi)

In this way Yuanbao still can dump the MAID on Poloniex, but they probably purchased it at a higher price than that and besides MaidSafe can monitor how many unspent MAID remain on the bitcoin address at which Yuanbao’s took delivery of the MAID they purchased.

I’m pretty sure it’s not exactly like this, but I think this could be quite close to the truth.

There is no one else who would want to create a 500 BTC buy wall for MAID. Few months from now the token is not going to be worth anything.

 

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