Crypto Sleuthing Firm Bubblemaps Launches Token on Solana and BNB

Bubblemaps, a popular on-chain visualization tool and crypto sleuthing firm, has launched its BMT token on Solana ( SOL ) and Binance Smart Chain ( BNB) ahead of the launch of its investigation platform: Intel Desk.

But spectators weren’t happy with how the launch went down because it appeared the firm had command of 94 % of the offer. Bubblemaps, but, say this is very distinct from the frauds it has called out in the past—mostly due to its clarity.

BMT peaked at a$ 90 million market cap on Solana and$ 49 million on Binance Smart Chain, according to DEX Screener. Both have since dropped to a$ 26 million market cap. From release, the coin has been available to deal on consolidated markets ByBit, Kraken, and Bitget.

The gift will be used for management on the soon-to-launch Intel Desk analysis software. Proposers did post ideas for investigations—like a suspected fraud key release or dubious budget. Then BMT buyers can voting on which one will be investigated. Additional participants are allowed to contribute to the research and will be rewarded with BMT if they provide valuable information.

Intel Desk is set to launch in “early 2025”.

At release, according to the Bubblemaps device, a swarm connected to the BMT deployer budget controls nearly 94 % of the key supply on Solana. This immediately led to some people believing the gift was an “exit fraud” or the bill on X, previously Twitter, had been hacked.

The Bubblemaps group confirmed to that this was not the case.

Bubblemaps released an X string in reply, claiming that people were seeing signs of the tokenomics. The string explained that the deployer bag was holding 86 % of the Solana offer. The group said over the coming weeks, it will gradually move the currencies to the Vesting Contract Operator pocket that presently holds 5.6 % of the offer.

When moved, the cash will be distributed across the tokenomics distributions, as outlined in the Bubblemaps whitepaper.

Of the 1 billion BMT key offer, 26.3 % will be allocated to the ecosystem—which generally consists of cryptocurrencies for Intel Desk opportunities. Then, 24.3 % will be assigned to” Investors”, 22.2 % for a future airdrop, 12.2 % is for providing liquidity, 9 % is for the team, and 6 % for the protocol. According to the whitepaper, only 27.05 % of the offer is circulating at launch.

Nick Vaiman, co-founder and CEO of Bubblemaps, told that the company is testing the Vesting Contract Operator before depositing everything in that pocket. When ready, the money will be deposited and quietly released over a 4-year compensation interval, as outlined in the whitepaper.

But that’s not the only concern customers have had with the start.

” When other coins bag their provide you immediately move after them”, one anonymous X person, JeremyyBTC, replied to the string,” but when you pull the exact same crap suddenly it’s all good? Like a joke”.

They appeared to be alluding to the fact that the Bubblemaps group has positioned itself as the custodian of bitcoin, warning investors against projects that the company consider to be a fraud or possible floor take. A big factor in determining this, for Bubblemaps, is how much of the token supply a project holds.

For example, the firm warned against purchasing the infamous DJT token because one cluster held 67 % of the supply. Some ignored the warning, claiming that it didn’t matter. But the token eventually plummeted 92 % after 20 % of the supply was sold all at once.

When asked to clarify how the BMT supply control was different from malicious meme coin launches, Bubblemaps pointed to an X post stating,” the issue is when projects deliberately obscure how much they own—that’s when it becomes predatory”.

It appears the Bubblemaps team
believes that a slyly bundled meme coin launch is very different from a project admitting to holding a large portion of the supply to vest over multiple years. In fact, this is fairly standard for crypto projects looking to offer utility.

Solana, for example, allocated 22.9 % of its token supply to community as well as 19.2 % to seed and founding funding round participants set to vest over a long period of time, according to Tokenomist. Only recently 11.16 million Solana unlocked as part of this initial tokenomic plan.

” Intention matters”, Cecilia Dahlberg, CMO at Bubblemaps, said.