LeverFi, the decentralized finance platform formerly known as RAMP DEFI, has ignited fresh concerns among investors after minting nearly 13.7 billion new LEVER tokens — a move that coincides with its upcoming removal from Binance.
According to blockchain activity, a portion of the freshly minted tokens has already been moved to Bybit, a major crypto exchange. However, the LeverFi team has not yet issued any official explanation regarding the timing or intent behind the transfers.
The sudden expansion of the token supply has drawn scrutiny, especially as it follows Binance’s decision to delist LEVER on July 4. The proximity of these two events has fueled speculation and raised red flags within the crypto community, with some observers questioning the rationale behind such a massive issuance days before a major liquidity channel is closed.
This token mint appears to be linked to LeverFi’s previously announced plans for its “LeverAI staking incentive program,” introduced in mid-May. At that time, the project disclosed intentions to raise its total token cap from 35 billion to over 55.7 billion LEVER. Today’s mint suggests those plans are now being implemented — though without the level of communication some investors expected.
LeverFi describes its mission as creating infrastructure for AI-powered decentralized applications (deAI) to operate across blockchain networks securely. Yet, despite its ambition, the project’s native token has seen a steep price collapse — currently trading at around $0.0003124, down over 94% from its 2022 peak.
As concerns over token dilution and exchange support grow, LeverFi’s next steps may determine whether the project can regain investor confidence or continues its downward spiral.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/this-altcoin-sparks-controversy-after-minting-billions-of-tokens-ahead-of-binance-exit/