The projects in the USD1 trading competition are indeed often incubated from large market projects, following the VC meme coin route, with the ultimate goal of targeting top-tier exchanges. The problem is that retail investors have no way of accessing insider information. When they see the chip structure, they get scared. Who dares to really join?

Recently, I’ve observed that the chip distribution of several projects is quite concentrated. One is a project starting with the character 安 (address 0x126976...), and another called big don (address 0x71429f...). Both show typical characteristics of market makers controlling the盘. To put it simply, this kind of gameplay is a routine for institutions and early participants to cut retail investors’ leeks. It looks lively, but the actual risk is too high.