The buying and selling platform Ox.enjoyable, related to Three Arrows founder Su Zhu, allegedly elevated the provision of OX tokens from roughly 4 billion to almost 9.8 billion with out making an official announcement.
Following the collapse of Three Arrows Capital (3AC), Su Zhu confronted imprisonment, additional fueling considerations about Ox.enjoyable’s credibility. Nonetheless, subsequent particulars supply further context.
Ox.enjoyable Will increase Whole Provide of OX Tokens
In accordance with posts on X, customers accused Ox.enjoyable of discreetly rising the overall provide of OX tokens from round 4 billion to greater than 9.8 billion with out prior disclosure. Knowledge from Ox.enjoyable’s official dashboard and Etherscan, a good blockchain evaluation device, verified this alteration.
Furthermore, in keeping with a December 2024 submit from Ox.enjoyable on Twitter, the unique OX provide was verified as 4.2 billion.
The provision improve has not but considerably impacted the worth of OX tokens on the time of this writing. Nonetheless, it has brought about the token’s market capitalization to surge from beneath $5 million to roughly $17 million. In different phrases, customers on-line mentioned the challenge quietly inflated its worth with none formal announcement.
Many group members argue that rising the token provide with out disclosure signifies opaque habits. They suppose it might be a sign for a rug pull.
Customers additionally expressed their frustration over the shortage of response initially from the challenge’s leaders.
“I like how @OXFUNHQ @zhusu proceed to be useless silent about doubling the circulating provide of $OX in a single day. I sincerely suppose they have been simply hoping that merely nobody would discover. True regards,” commented an X consumer.
Ox.enjoyable Claims It Introduced OX Provide Surge
Ox.enjoyable lastly responded to the accusations, stating that the rise had been beforehand disclosed. The challenge defined that the rise in provide to 9.8 billion tokens was introduced on April 1, 2025, as a part of the “Ox Seasons” program. In accordance with Ox.enjoyable, Ox Seasons was introduced via all social media platforms.
“Importantly, the tokens are locked within the OX treasury multisig (0x4B214e2a2a9716bfF0C20EbDA912B13c7a184E23) and can solely be distributed to customers on the finish of the Seasons program, precisely as outlined in our docs.” said Ox.enjoyable
The group emphasised that this transfer, by disabling the good contract’s mint operate, was supposed to make sure transparency and forestall future token minting.
Nonetheless, the group stays skeptical because of the delayed communication, questioning whether or not Ox.enjoyable has been as clear because it claims.
The group’s skepticism persists, given Su Zhu’s fame within the crypto house has been tarnished because the collapse of Three Arrows Capital (3AC). Moreover, in February 2025, Ox.enjoyable had some points with JefeDAO. Though the platform later supplied explanations, these incidents have raised ongoing considerations about its monetary stability.
Whereas the worth of OX tokens has not skilled vital fluctuations following this occasion, smaller buying and selling platforms like Ox.enjoyable are sometimes susceptible to market sentiment.
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