Axis Robotics Responds to AXIS Sell-Off: Suspects OTC Counterparty Default and Dumping, Team and Investor Tokens Untouched

BlockBeats news, October 30 - Axis Robotics issued a statement regarding the large-scale selling of AXIS on-chain from October 28 to 29, stating that the core team, investors, and other locked allocations totaling 835 million AXIS, accounting for 83.5% of the total supply, remain in a vesting contract jointly managed with Binance and can be verified on-chain. None will unlock before the 12-month cliff, and this sell-off is not from the team or investors.

The project team stated that the tokens sold came from the initial circulating supply in the publicly released tokenomics, as part of the ecosystem allocation. Because some ecosystem recipients are non-crypto-native users, the allocation was delivered through a single OTC counterparty under a written agreement containing lock-up clauses. The sales were conducted via exchange deposit paths and through hundreds of new addresses within hours after delivery, and the project team believes it is highly suspected that the counterparty sold on the public market.

Previously, on-chain detective ZachXBT disclosed that insider addresses of Axis Robotics (AXIS) sold off, causing the token to plummet about 40%.