The Pinnako community accuses iZUMi Finance of dumping its tokens

ChainCatcher news, users from the Pinnako community of the encrypted derivatives trading platform accuse iZUMi Finance of dumping its tokens, causing a significant drop in token prices. iZUMi Finance launched a double reward mining event with Pinnako starting from July 7, with a total reward of 120,000 esPIKO and 1 million iZi. iZUMi is suspected of selling the staking reward token esPIKO held by PIKO holders and converting it into ETH to reward iZi holders.

Previously, ChainCatcher reported that the Arbitrum ecosystem chain game MetaLine accused the multi-chain DeFi protocol iZUMi Finance of misappropriating mining rewards and dumping its Token. iZUMi Finance misappropriated $10,000 worth of MTG, only including half of the MTG sent by MetaLine into the liquidity mining reward pool. In response, iZUMi stated that when cooperating with projects allowed to initiate dual incentive mining activities, the token incentives from the dual mining pool will be distributed in a certain proportion, and in this case, the unconsumed emissions will re-enter the mining pool to provide deeper liquidity. (source link)