MantraDao is listed on OKEx in succession. Here comes another RFUEL (Rio)

One month after OM went online, MantraDao’s second coin, Rio DeFi (RFUEL), was listed on OKEx again. An industry insider pointed out that “paying once and listing the coin multiple times is a really cost-effective business.”

For an introduction to MantraDao, please refer to the article "Scammer Penta transforms into MantraDAO, foreign actors go crazy on Chinese exchanges, Yi Lihua continues to promote it."

The predecessor of the MantraDao team was the 2018 project Penta, which was listed on Huobi, but quickly returned to zero a few months after its launch. The team is a group of foreign actors who have been engaged in ICO for many years, and the investors are also the notorious Yi Lihua and Liaode Capital in the circle. The project has issued two tokens, OM and Rio, in one month, claiming to be "the first Defi project on the Polkadot chain."

Rumor has it that Lede Capital made 30 million RMB on MantraDao, but there are also reports that this is unlikely because the market is too small. The private placement price of OM is about 0.04, and the current price is 0.17, and the previous highest price was 0.68. OM has fallen by 60% in the past month, and the team has also put all its efforts on this new token RFUEL.

The OM team said: Many projects have gone back to zero after a month, but OM still has 4 times the profit. It can't be said that they are cutting leeks.

MantraDao is characterized by its generous spending, and the reason is naturally because the financial backer is Calvin Ng, who is engaged in the gambling industry. OKEx still listed its second air coin within a month despite the overwhelming negative public opinion about the project, which shows the high listing fee or other amounts, as well as the irresponsible attitude of the listing team. Previously, there were market rumors that Rio was conducting private placement in the MLM industry, and some bigwigs in the CX industry also stood up.

Yi Lihua responded to Fengchao Finance: "We are not clear about the team background of MantraDAO. We are all investors, just like many other investors." Another investor mocked: It turns out that when investing now, you don’t even need to know the background of the team.

Wu said that everyone knows the fate of air coins, and it is just a game to see who runs faster. In the Chinese cryptocurrency market, there is a very bad phenomenon of bad money driving out good money. As a mainstream exchange, it should take the initiative to purify the industry instead of destroying its own brand for petty profits.

MantraDao also issued an announcement in response, stating that the Rio testnet has started to produce blocks and has undergone a code audit by Certik, and stated that FTX is their investor. As of press time, FTX has not responded to this.

MantraDao previously responded:

https://m.weibo.cn/status/4545444232830853#&gid=1&pid=1

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