In-depth analysis of meme tokens behind 3AC data: "Old memes making a comeback" or "Institutions orchestrating"?
How much position does the team actually hold? Who is front-running the sniping? Have the pre-sale players already cashed out?Original author: 0xLouisT (L1D Partner)
Compiled by: Azuma, Odaily Planet Daily
Editor’s note: Based on the concept of the bankrupt fund Three Arrows Capital, the meme token Three Arrowz Capitel (3AC), backed by former partners Su Zhu and Kyle Davies, has unexpectedly surged in popularity recently. Dex Screener shows that the token once peaked at a price of $0.192, corresponding to a market cap of up to $170 million.
However, Bubblemaps data indicates that 80% of the token's supply is controlled by the same cluster. Additionally, according to the latest article by L1D partner 0xLouisT, there seems to be more to the story behind the launch of this token that is worth digging into.
Below is the full text by 0xLouisT, compiled by Odaily Planet Daily.
Three days ago, Su Zhu and Kyle Davies launched a meme fund called Three Arrowz Capitel, attached to the token 3AC (hereafter all mentions of 3AC refer to this token).
Analysts on Bubblemaps quickly discovered that 80% of the token's supply is concentrated within the same cluster (https://x.com/bubblemaps/status/1839771568953503957). On this basis, curiosity drove me to dig deeper—what exactly are Su Zhu and Kyle Davies doing? Do these former billionaires really want to make a comeback?
Presale
On-chain records show that 3AC raised 750 ETH (approximately $2 million) from about 25 investors in a private presale. The wallets participating in the presale are closely related to the Milady team, Bobo team (@bobocoineth), jez (@izebeleth), ctrl (@maybectrlfreak), Pandora (@PandoraERC 404), and OX.FUN team.
Issuance
The issuance of the 3AC token is quite interesting.
The team roughly split all private placement funds in half, allocating 317 ETH (approximately $850,000) to the liquidity pool on Uniswap V2, with a lock-up period of one year; the remaining 336 ETH (approximately $880,000) was dispersed across eight wallets, which belong to the teams that had previously targeted the launch of 3AC. Most of these wallets currently have profits ranging from 10 to 30 times their cost basis.
Additionally, there is a noteworthy sniper address, which may have been leaked by an insider. This address used BananaGun to purchase $320,000 worth of 3AC, which at its peak soared to $1.23 million. It cashed out at the peak but then changed its mind and bought back the same amount of tokens a few minutes later—now, those 3AC tokens that were once worth $1.23 million have dropped by over 50%.
Token Economic Model
If you think that "low circulation, high FDV" token chip data is quite bad, then 3AC's "low circulation, high conspiracy" token chip structure is even more exaggerated.
In addition to the eight wallets mentioned above that had previously targeted a large amount of token supply, 3AC also allocated 50% of its supply to itself (address: 0x9aA17AF45fE866f88A9a82Eb55fA250c2fF43597).
The token also imposes a 1% transaction tax on every buy and sell, with the tax collected going to a tax address (address: 0x9B427aC936B8B25266Cd9DA54C667A8ba2353C5B), which has accumulated over 7% of the total supply of 3AC.
A few hours ago, most (but not all) of the tokens in these wallets were consolidated into a main team and insider wallet (address: 0x60244d0DD5FDebE73E2E25577d78Ad1Ad07f2430).
At this point, we can simply summarize the token economic model of 3AC. In the diagram below, the shares of the team and insiders will be marked in red, while the community and liquidity shares will be marked in green.
8% Community;
8% Liquidity;
84% Team and insiders;
Presale participants have already begun receiving their allocations of 3AC tokens, with initial token allocations valued between $25,000 and $100,000. Notably, less than 25% of presale participants have sold their initial shares. Nevertheless, some presale participants have already cashed out multiple five-figure amounts.
At this point, it is not difficult to see that purchasing 3AC means you need to choose to trust a small group of insiders who control over 84% of the supply, which is why some people refer to it as a "cabal token."
Whether to participate in this gamble is up to you.
