Aerodrome Finance Suspends Two Contributors for Insider Trading Allegations
Aerodrome Finance suspended two contributors due to insider trading allegations linked to the launch of Venice's VVV token. Internal monitoring detected suspicious trading activity within 30 minutes of the launch, prompting an internal investigation that resulted in the suspensions within three hours.
Key Points
- Internal monitoring flagged suspicious trading during VVV launch.
- Investigation led to suspension of two contributors.
- Erik Voorhees, founder of Venice, praised Aerodrome for transparency.
- Aerodrome has a total value locked (TVL) of $1.04 billion on Base.
VVV Token Launch Details
The VVV token launched on January 27 on Base, an Ethereum Layer 2 network. Liquidity is provided through a public pool on Aerodrome. Key aspects include:
- Half of the 100 million tokens allocated to Venice users and web3 AI projects.
- Focus on simplifying economic interactions for AI agents.
- 25% of the initial supply allocated to AI community protocol accounts on Base.
Since its launch in May 2024, Venice has gained 400,000 registered users and processes 15,000 inference requests per hour. Cookie DAO reported that VVV gained 18.32% of total mindshare within 24 hours post-launch.