so i bought a little BZRX after they had 5 threads a day on Zig Forums about a month ago
and i've been watching them ever since.
for those who don't know, they got hacked and they still owed ETH to the customers that were affected. the ETH on their platform is called iETH.
recently they offered an "iETH buyback program" that basically allowed you to buy their vested token (vBZRX) if you helped them plug the hole from the hack. the token allows you to collect fees just like BZRX does, but it's vested with 6 month cliff at which points it slowly unlocks over 4 years.
this is the contract address:
etherscan.io
take a good look. BZX sold 6000 worth of ETH of their vested token in a matter of days after they announced the buyback program!
now, you would think that this was just people taking advantage of the arb opportunity, correct? well, take a look again at any of the addresses that used the iETH->vBZRX conversion! none of them have sold. not a single one.
just look at uniswap liquidity for vBZRX:
uniswap.info
it literally went down after the sale concluded.
also, if you look at the balances of those who used the program, there's a lot of 6 and 7-figure accounts in there and most of the tokens are related to DeFi. stuff like PNK, BZRX, DMG, etc.
the DeFi masterminds believe in this so much that they haven't sold ONE DOLLAR worth out of over TWO AND A HALF MILLION!!!
it's been said enough about this platform that it's a AAVE and COMP but in a better package, DeFi king coming back to his throne, etc.
but this is another positive-- DeFi enthusiasts bought 2.5mm worth and are still holding a token that's vested for 4 years.
this makes me incredibly bullish about my holdings.
