Пол Фэкс защищает Plasma от обвинений в мошенничестве на фоне резкого падения XPL Translation: Paul Fexe defends Plasma against fraud accusations amid sharp decline of XPL

The creator of the stablecoin project Plasma, Paul Fex, has dismissed allegations of insider trading following a decline in the price of XPL exceeding 40%. However, some community members continue to question his statements.

«No team member sold any XPL. All their assets and coins belonging to investors are locked for three years with a one-year vesting period,» he stated.

On September 25, Plasma launched the beta version of its mainnet along with the native token. XPL debuted at $1.3 and reached an all-time high of $1.68 three days later. Since then, its price has dropped by 41.8%, according to CoinGecko.

At the time of writing, the asset is trading at $0.9.

The community suspects Plasma representatives of utilizing algorithmic sales through a Time-Weighted Average Price (TWAP) method, where large orders are broken down into smaller parts. A user named ManaMoon pointed out that over 600 million XPL were transferred from the team’s wallet to exchanges prior to the launch.

«I personally believe someone was conducting excessive volume TWAP sales that retail buyers couldn’t handle,» he remarked.

Another community member, crypto-popseye, also accused the market maker Wintermute of contributing to the XPL price drop.

«Plasma has destroyed its schedule and momentum, so I hope their project fails,» he asserted.

Fex denied any connection between the project and the platform, emphasizing that he possesses the same information as other users.

«We have not hired Wintermute as a market maker and have never entered into contracts with them for any services,» he stressed.

The community reacted skeptically to the founder’s statements. Crypto-popseye pointed out that while Fex excluded sales by the team, the status of tokens allocated for «the ecosystem and its growth» remained unclear.

«It’s obvious to everyone that they have been sold, yet you framed your tweet as if that didn’t happen. Stop lying, Polly, you can’t deceive on-chain,» he wrote.

User Melardev agreed with him, noting that there are more coins on exchanges than were sold in the presale.

«Of course, the team didn’t sell anything—their tokens are locked—but ecosystem coins were definitely dumped on the market. For the sake of transparency, disclose how you used the 800 million XPL,» he said.

In his post, Fex specifically mentioned that the Plasma team is «focused on creating the monetary system of the future» and will not provide further comments.

It’s worth recalling that in September, the stablecoin project announced the launch of the Plasma One neobank with an annual return exceeding 10%.