“In summary, the only liquid tokens in the market came from Alameda Market Making (3%), IEO/IDO participants (0.3%), private investors (1.6%) and the liquidity mining rewards for our stable pools,” the team stated. This created constant sell-side liquidity for MER tokens on the open market, which is now deemed detrimental given the troubles at Alameda and FTX.
Source: https://www.coindesk.com/tech/2022/12/07/defi-project-mercurial-plots-revamp-and-new-tokens-following-toxic-association-with-ftx/?utm_medium=referral&utm_source=rss&utm_campaign=headlines