Curriculum·Sophomore·S202
Token Analysis and Tokenomics
Movement Labs and the MOVE token. MOVE debuted on exchanges on 9 December 2024.
Lesson 1 opens on
Ankr aBNBc, December 2022
On 2 December 2022 an attacker obtained the private key of Ankr's deployer account, reportedly through a combination of social engineering and a malicious code package attributed to a former team member. Because the aBNBc token contract was upgradeable, the attacker replaced its implementation with a malicious one and minted 10,000,000,000,000 aBNBc to their own address, then sold into the available liquidity.53, within hours.
The lessons
- S202-01Supply mechanicsDistinguish circulating, total and maximum supply, and say which of the three is a factabout 40 min · opens on Ankr aBNBc, December 2022
- S202-02Reading a vesting scheduleRead a vesting schedule as a forward supply curve and locate the cliffs on a calendarabout 41 min · opens on The low float and high FDV cohort, 2024
- S202-03Distribution and concentrationRead a holder list correctly by classifying addresses before counting themabout 31 min · opens on LIBRA, February 2025, read as a distribution problem
- S202-04Value accrualTrace the specific mechanism connecting protocol activity to token holders, or establish that none existsabout 31 min · opens on UNI and the fee switch, 2020 to 2025
- S202-05The sector mapPlace any token in a sector by what it does rather than by how it is marketedabout 31 min · opens on Axie Infinity and play-to-earn, 2021 to 2022
- S202-06Red flags and honest memecoin treatmentRun the eight-item red flag checklist, and distinguish a disqualifying finding from a questionabout 32 min · opens on The base rate on a launchpad, 2024 to 2026
Labs
S202-L
Full written teardown of a live asset: supply, distribution, unlocks, value accrual, contract permissions, liquidity depth, and a stated bull and bear case with the specific facts that would falsify each.