On March 10, Victor Ji, co-founder of Manta Network, posted on social media to criticize crypto market makers, calling them “blood-sucking moths”. He said that the team receives daily invitations to buy and acquire from so-called active market makers and OTCs, but he believes that market makers “don’t look at the fundamentals of the project at all” and only profit from the project community.
Victor Ji argues that if more and more money in the industry does not focus on fundamentals, the industry will collapse faster, and market makers are the group of people who are most blatantly ignorant of fundamentals. He emphasized that real liquidity should come from real community trading, reflecting the bullish and bearish sentiment of the natural market.
He also disclosed his early experience, saying that Manta’s project Calamari provided more than 3% of the tokens to Three Arrows Capital for market making during the Polkadot ecosystem, but the other party then sold all the tokens. Victor Ji suggested that project parties should consider providing loans if they are concerned about insufficient liquidity, but the size should be limited to no more than 0.2% of the total number of tokens.
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